By otakuyassine3@gmail.com 
First Solar (NASDAQ:FSLR – Free Report) had its price target reduced by Barclays from $236.00 to $204.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the solar cell manufacturer’s stock.
Other analysts also recently issued reports about the company. Wells Fargo & Company decreased their price target on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. BMO Capital Markets reiterated an “outperform” rating and issued a $230.00 price target (down from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Robert W. Baird dropped their target price on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, Citigroup reduced their price target on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $256.08.
Get Our Latest Analysis on FSLR
First Solar Trading Up 3.1 %
NASDAQ FSLR opened at $125.93 on Friday. First Solar has a one year low of $116.56 and a one year high of $306.77. The firm has a 50 day simple moving average of $139.83 and a 200-day simple moving average of $175.63. The firm has a market cap of $13.48 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 0.19 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.
First Solar (NASDAQ:FSLR – Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Equities research analysts anticipate that First Solar will post 13.05 EPS for the current fiscal year.
Insider Activity at First Solar
In related news, insider Georges Antoun sold 229 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the transaction, the insider now owns 52,836 shares in the company, valued at $7,066,815. This trade represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the sale, the chief executive officer now owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock worth $4,767,158 over the last ninety days. 0.58% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares in the last quarter. Princeton Global Asset Management LLC acquired a new position in First Solar in the first quarter worth approximately $51,000. Crews Bank & Trust acquired a new position in First Solar in the fourth quarter worth approximately $53,000. Hudson Edge Investment Partners Inc. bought a new position in shares of First Solar in the fourth quarter valued at $53,000. Finally, Banque Transatlantique SA acquired a new stake in shares of First Solar during the 4th quarter valued at $53,000. 92.08% of the stock is owned by institutional investors and hedge funds.
About First Solar
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.
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