First Solar (NASDAQ:FSLR) Price Target Lowered to $240.00 at Robert W. Baird

First Solar (NASDAQ:FSLR) had its target price decreased by Robert W. Baird from $267.00 to $240.00 in a report published on Tuesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the solar cell manufacturer’s stock.

A number of other brokerages have also recently weighed in on FSLR. Piper Sandler decreased their price objective on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and increased their price target for the company from $218.00 to $259.00 in a research report on Tuesday, February 11th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Wells Fargo & Company decreased their target price on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 price target on shares of First Solar in a report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average price target of $251.63.

First Solar Stock Down 3.4 %

Shares of First Solar stock opened at $126.82 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The stock has a market cap of $13.58 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 0.19 and a beta of 1.48. The firm’s 50-day moving average is $138.39 and its two-hundred day moving average is $174.42. First Solar has a 1 year low of $116.56 and a 1 year high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($1.16). The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, research analysts expect that First Solar will post 13.05 earnings per share for the current fiscal year.

Insider Activity at First Solar

In other First Solar news, insider Georges Antoun sold 229 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the completion of the transaction, the insider now directly owns 52,836 shares of the company’s stock, valued at approximately $7,066,815. The trade was a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the sale, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock worth $4,767,158 over the last three months. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On First Solar

Several large investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in shares of First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after acquiring an additional 63 shares during the period. Princeton Global Asset Management LLC purchased a new position in shares of First Solar in the first quarter valued at approximately $51,000. Crews Bank & Trust acquired a new stake in shares of First Solar in the fourth quarter worth approximately $53,000. Hudson Edge Investment Partners Inc. purchased a new stake in shares of First Solar during the fourth quarter worth approximately $53,000. Finally, Banque Transatlantique SA acquired a new position in First Solar in the 4th quarter valued at $53,000. 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.