Guggenheim Cuts First Solar (NASDAQ:FSLR) Price Target to $356.00

First Solar (NASDAQ:FSLR) had its price target decreased by equities research analysts at Guggenheim from $359.00 to $356.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the solar cell manufacturer’s stock. Guggenheim’s price objective would suggest a potential upside of 98.52% from the company’s current price.

Several other equities analysts have also recently commented on FSLR. Jefferies Financial Group upped their price target on First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a report on Thursday. Janney Montgomery Scott assumed coverage on First Solar in a report on Friday, April 12th. They issued a “buy” rating and a $236.00 price target for the company. Susquehanna reissued a “positive” rating and issued a $258.00 target price on shares of First Solar in a report on Friday, April 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 target price on shares of First Solar in a report on Wednesday, February 28th. Finally, UBS Group increased their target price on First Solar from $250.00 to $252.00 and gave the stock a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $238.16.

First Solar Stock Performance

FSLR traded up $1.75 on Thursday, hitting $179.33. 2,877,448 shares of the stock traded hands, compared to its average volume of 2,071,469. The business has a fifty day moving average price of $164.89 and a two-hundred day moving average price of $157.84. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $19.20 billion, a PE ratio of 23.04, a P/E/G ratio of 0.30 and a beta of 1.37. First Solar has a 52 week low of $129.21 and a 52 week high of $232.00.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, beating the consensus estimate of $1.90 by $0.30. The firm had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The company’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 EPS. On average, research analysts predict that First Solar will post 13.55 EPS for the current fiscal year.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 2,400 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the transaction, the insider now directly owns 37,412 shares in the company, valued at approximately $6,584,512. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Georges Antoun sold 2,400 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total transaction of $422,400.00. Following the sale, the insider now owns 37,412 shares of the company’s stock, valued at approximately $6,584,512. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kuntal Kumar Verma sold 787 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total value of $125,920.00. Following the sale, the insider now directly owns 4,920 shares in the company, valued at approximately $787,200. The disclosure for this sale can be found here. Insiders have sold 26,620 shares of company stock worth $4,269,540 in the last three months. Insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

Several hedge funds have recently added to or reduced their stakes in the business. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of First Solar in the 1st quarter valued at about $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of First Solar in the 4th quarter valued at about $27,000. Baystate Wealth Management LLC acquired a new stake in shares of First Solar in the 4th quarter valued at about $29,000. Estabrook Capital Management acquired a new stake in shares of First Solar in the 3rd quarter valued at about $29,000. Finally, Riverview Trust Co acquired a new stake in shares of First Solar in the 1st quarter valued at about $32,000. Institutional investors and hedge funds 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.