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

First Solar (NASDAQ:FSLR - Get Free Report) had its price objective lowered by investment analysts at Robert W. Baird from $267.00 to $240.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the solar cell manufacturer's stock. Robert W. Baird's target price would suggest a potential upside of 87.53% from the stock's current price.

Several other equities research analysts have also issued reports on the stock. Bank of America reduced their target price on shares of First Solar from $236.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company reduced their target price on First Solar from $240.00 to $209.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Seaport Res Ptn upgraded shares of First Solar from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 15th. Susquehanna decreased their price target on First Solar from $223.00 to $217.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. cut their price objective on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $251.63.

First Solar Stock Performance

FSLR traded up $3.60 during mid-day trading on Tuesday, reaching $127.98. 2,278,470 shares of the company traded hands, compared to its average volume of 2,742,666. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar has a 52-week low of $116.56 and a 52-week high of $306.77. The stock has a market capitalization of $13.70 billion, a P/E ratio of 11.02, a P/E/G ratio of 0.19 and a beta of 1.48. The company's fifty day moving average price is $136.14 and its 200-day moving average price is $172.46.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. On average, sell-side analysts expect that First Solar will post 13.05 EPS for the current year.

Insider Transactions at First Solar

In other news, CTO Markus Gloeckler sold 380 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $50,825.00. Following the completion of the transaction, the chief technology officer now owns 17,594 shares of the company's stock, valued at $2,353,197.50. The trade was a 2.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the transaction, the insider now owns 3,549 shares of the company's stock, valued at approximately $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,311 shares of company stock valued at $4,767,158. Corporate 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 increased its stake in shares of First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after purchasing an additional 63 shares in the last quarter. Princeton Global Asset Management LLC acquired a new position in shares of First Solar in the first quarter valued at approximately $51,000. Crews Bank & Trust purchased a new stake in First Solar during the 4th quarter worth about $53,000. Hudson Edge Investment Partners Inc. acquired a new position in shares of First Solar during the fourth quarter worth about $53,000. Finally, Banque Transatlantique SA acquired a new stake in First Solar in the fourth quarter valued at approximately $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.