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

First Solar (NASDAQ:FSLR) had its target price lowered by equities researchers at Susquehanna from $280.00 to $252.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “positive” rating on the solar cell manufacturer’s stock. Susquehanna’s target price points to a potential upside of 33.69% from the stock’s current price.

FSLR has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their target price on shares of First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Bank of America cut their price objective on shares of First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a report on Wednesday. Roth Mkm lowered their target price on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. William Blair assumed coverage on First Solar in a report on Thursday, August 29th. They issued a “market perform” rating on the stock. Finally, Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and an average target price of $284.71.

First Solar Stock Performance

Shares of First Solar stock traded down $11.18 during mid-day trading on Wednesday, hitting $188.49. 1,455,885 shares of the stock were exchanged, compared to its average volume of 2,396,645. First Solar has a 12 month low of $129.21 and a 12 month high of $306.77. The company has a 50-day simple moving average of $223.18 and a 200 day simple moving average of $224.11. The company has a market capitalization of $20.18 billion, a P/E ratio of 19.45, a P/E/G ratio of 0.34 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the business posted $2.50 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. Sell-side analysts anticipate that First Solar will post 13.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the company’s 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 owns 3,468 shares of the company’s stock, valued at approximately $769,896. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,885 shares of company stock valued at $2,405,757 in the last quarter. Insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

Hedge funds have recently modified their holdings of the company. Brookstone Capital Management acquired a new position in First Solar during the first quarter worth $244,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of First Solar by 6.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer’s stock worth $43,749,000 after acquiring an additional 15,430 shares during the period. First Trust Direct Indexing L.P. bought a new position in shares of First Solar in the 1st quarter valued at $215,000. Everett Harris & Co. CA acquired a new position in First Solar during the first quarter worth about $219,000. Finally, Van ECK Associates Corp lifted its stake in First Solar by 3.2% in the 1st quarter. Van ECK Associates Corp now owns 48,926 shares of the solar cell manufacturer’s stock valued at $8,259,000 after purchasing an additional 1,524 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.