First Solar (NASDAQ:FSLR) Price Target Cut to $240.00 by Analysts at UBS Group

First Solar (NASDAQ:FSLR - Free Report) had its price target reduced by UBS Group from $285.00 to $240.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the solar cell manufacturer's stock.

A number of other equities analysts have also recently issued reports on FSLR. Roth Mkm reiterated a "buy" rating and issued a $280.00 price target on shares of First Solar in a research note on Wednesday, February 26th. StockNews.com raised shares of First Solar from a "sell" rating to a "hold" rating in a research report on Thursday, January 2nd. Mizuho raised shares of First Solar from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. Redburn Atlantic started coverage on shares of First Solar in a report on Monday, March 3rd. They set a "neutral" rating for the company. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $230.00 price target (down previously from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $251.63.

First Solar Stock Performance

FSLR stock traded up $3.60 during mid-day trading on Monday, hitting $127.98. The company had a trading volume of 2,278,470 shares, compared to its average volume of 2,740,584. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The firm has a market cap of $13.70 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. First Solar has a 12 month low of $116.56 and a 12 month high of $306.77. The stock's fifty day moving average price is $136.14 and its two-hundred day moving average price is $172.03.

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

Insiders Place Their Bets

In other news, CFO Alexander R. Bradley sold 599 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 $80,116.25. Following the completion of the sale, the chief financial officer now directly owns 45,717 shares in the company, valued at $6,114,648.75. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the sale, the chief executive officer now directly owns 103,403 shares in the company, valued at $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,311 shares of company stock valued at $4,767,158. Company insiders own 0.48% of the company's stock.

Institutional Investors Weigh In On First Solar

A number of hedge funds have recently modified their holdings of FSLR. Smartleaf Asset Management LLC increased its holdings 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 valued at $47,000 after purchasing an additional 63 shares during the last quarter. Princeton Global Asset Management LLC acquired a new position in shares of First Solar during the 1st quarter valued at about $51,000. Crews Bank & Trust purchased a new stake in shares of First Solar in the fourth quarter valued at about $53,000. Hudson Edge Investment Partners Inc. purchased a new stake in shares of First Solar in the 4th quarter valued at approximately $53,000. Finally, Banque Transatlantique SA acquired a new stake in First Solar during the fourth quarter worth $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.