First Solar (NASDAQ:FSLR) Given New $335.00 Price Target at Guggenheim

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

A number of other equities research analysts also recently commented on the company. The Goldman Sachs Group decreased their target price on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research report on Wednesday. Clarkson Capital began coverage on shares of First Solar in a research report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price target on the stock. Janney Montgomery Scott upgraded shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Tuesday. Susquehanna reduced their target price on shares of First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a report on Wednesday. Finally, Roth Mkm lowered their price target 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. Two analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $281.83.

First Solar Trading Down 1.1 %

FSLR stock opened at $197.50 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65. First Solar has a 1-year low of $129.21 and a 1-year high of $306.77. The business has a 50 day simple moving average of $222.68 and a two-hundred day simple moving average of $223.93. The company has a market capitalization of $21.14 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 0.34 and a beta of 1.44.

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

Insider Transactions at First Solar

In related 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 value of $382,339.00. Following the completion of the sale, the chief accounting officer now owns 500 shares in the company, valued at approximately $108,250. 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. In related news, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction dated Wednesday, August 7th. The stock was 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 directly owns 500 shares in the company, valued at $108,250. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Solar

A number of large investors have recently bought and sold shares of FSLR. Massmutual Trust Co. FSB ADV boosted its position in First Solar by 14.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock valued at $89,000 after acquiring an additional 45 shares in the last quarter. Davis Investment Partners LLC lifted its stake in shares of First Solar by 0.6% during the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock worth $1,805,000 after purchasing an additional 46 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in First Solar by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock valued at $2,068,000 after purchasing an additional 49 shares in the last quarter. Cambridge Trust Co. grew its stake in First Solar by 1.6% in the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock valued at $546,000 after purchasing an additional 50 shares during the last quarter. Finally, Gilman Hill Asset Management LLC raised its holdings in First Solar by 2.8% in the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock worth $455,000 after purchasing an additional 50 shares in the last quarter. 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.