First Solar (NASDAQ:FSLR) Price Target Lowered to $335.00 at Guggenheim

First Solar (NASDAQ:FSLR) had its price objective lowered by Guggenheim from $368.00 to $335.00 in a research report report published on Wednesday morning, Benzinga reports. Guggenheim currently has a buy rating on the solar cell manufacturer’s stock.

A number of other equities analysts have also recently commented on FSLR. Citigroup raised First Solar from a “neutral” rating to a “buy” rating and raised their target price for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. Truist Financial began coverage on First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 price target on the stock. BMO Capital Markets reissued an “outperform” rating and set a $260.00 price target (down from $286.00) on shares of First Solar in a report on Wednesday. Bank of America decreased their price target on First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada decreased their price target on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $281.13.

First Solar Stock Performance

FSLR stock opened at $204.94 on Wednesday. The company has a market cap of $21.94 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 0.34 and a beta of 1.44. First Solar has a 1 year low of $129.21 and a 1 year high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.65. The stock’s fifty day moving average price is $221.68 and its 200-day moving average price is $223.93.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS 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 during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business posted $2.50 earnings per share. First Solar’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities analysts forecast that First Solar will post 13.18 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the transaction, the chief accounting officer now owns 500 shares in the company, valued at $108,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Patrick James Buehler sold 8,619 shares of the business’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 completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the completion of the sale, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,885 shares of company stock worth $2,405,757 over the last 90 days. Company insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

A number of large investors have recently modified their holdings of the company. Brookstone Capital Management purchased a new stake in First Solar during the first quarter worth $244,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in First Solar by 6.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer’s stock worth $43,749,000 after buying an additional 15,430 shares during the period. First Trust Direct Indexing L.P. purchased a new stake in First Solar during the first quarter worth $215,000. Everett Harris & Co. CA purchased a new stake in First Solar during the first quarter worth $219,000. Finally, Van ECK Associates Corp lifted its holdings in First Solar by 3.2% during the first quarter. Van ECK Associates Corp now owns 48,926 shares of the solar cell manufacturer’s stock worth $8,259,000 after buying an additional 1,524 shares during the period. 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.