Mizuho Lowers First Solar (NASDAQ:FSLR) Price Target to $257.00

First Solar (NASDAQ:FSLR) had its price objective reduced by equities research analysts at Mizuho from $274.00 to $257.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the solar cell manufacturer’s stock. Mizuho’s price target would suggest a potential upside of 25.40% from the stock’s previous close.

FSLR has been the subject of a number of other research reports. Oppenheimer boosted their target price on shares of First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Piper Sandler dropped their price objective on First Solar from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Wednesday. DZ Bank raised 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. Wells Fargo & Company lowered their target price on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and an average target price of $281.13.

First Solar Stock Performance

Shares of FSLR stock opened at $204.94 on Thursday. The firm has a 50 day moving average of $221.68 and a two-hundred day moving average of $223.93. The stock has a market capitalization of $21.94 billion, a PE ratio of 17.65, a P/E/G ratio of 0.34 and a beta of 1.44. The company has a quick ratio of 1.65, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar has a 52 week low of $129.21 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business posted $2.50 EPS. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, research analysts predict that First Solar will post 13.18 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On First Solar

Institutional investors and hedge funds have recently modified their holdings of the company. AlphaMark Advisors LLC purchased a new position in shares of First Solar during the 3rd quarter worth $25,000. Atlas Capital Advisors LLC grew its holdings in First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares during the period. Summit Securities Group LLC acquired a new position in shares of First Solar during the 2nd quarter valued at about $36,000. Itau Unibanco Holding S.A. purchased a new position in shares of First Solar during the 2nd quarter worth about $38,000. Finally, Alta Advisers Ltd acquired a new stake in shares of First Solar in the second quarter worth approximately $45,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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.