Susquehanna Cuts First Solar (NASDAQ:FSLR) Price Target to $252.00

First Solar (NASDAQ:FSLR) had its price objective reduced by Susquehanna from $280.00 to $252.00 in a report published on Wednesday morning, Benzinga reports. They currently have a positive rating on the solar cell manufacturer’s stock.

Several other equities analysts also recently issued reports on the stock. DZ Bank raised shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target for the company in a report on Thursday, August 1st. Morgan Stanley reduced their target price on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research note on Wednesday. BMO Capital Markets dropped their price target on shares of First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $315.00 price objective on shares of First Solar in a research report on Wednesday, July 31st. Finally, Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $281.13.

First Solar Price Performance

FSLR opened at $204.94 on Wednesday. The company has a quick ratio of 1.65, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $221.68 and its 200 day moving average price is $223.93. First Solar has a fifty-two week low of $129.21 and a fifty-two week high of $306.77. The firm has a market cap of $21.94 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 0.34 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company posted $2.50 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, sell-side analysts expect that First Solar will post 13.18 earnings per share for the current year.

Insider Transactions at First Solar

In related news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, the insider now directly owns 3,468 shares in the company, valued at $769,896. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares in the company, valued at approximately $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,885 shares of company stock valued at $2,405,757 in the last three months. 0.58% of the stock is currently owned by corporate insiders.

Institutional Trading of First Solar

A number of hedge funds have recently modified their holdings of FSLR. Massmutual Trust Co. FSB ADV raised its position in First Solar by 14.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock valued at $89,000 after buying an additional 45 shares during the period. Davis Investment Partners LLC increased its holdings in shares of First Solar by 0.6% in the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock valued at $1,805,000 after purchasing an additional 46 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of First Solar by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock worth $2,068,000 after purchasing an additional 49 shares in the last quarter. Cambridge Trust Co. boosted its holdings in shares of First Solar by 1.6% during the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after purchasing an additional 50 shares during the period. Finally, Gilman Hill Asset Management LLC grew its position in First Solar by 2.8% during the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock valued at $455,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.