Guggenheim Cuts First Solar (NASDAQ:FSLR) Price Target to $253.00

First Solar (NASDAQ:FSLR - Get Free Report) had its price target lowered by equities research analysts at Guggenheim from $304.00 to $253.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the solar cell manufacturer's stock. Guggenheim's price objective indicates a potential upside of 100.91% from the company's current price.

Other research analysts also recently issued research reports about the stock. Mizuho upgraded shares of First Solar from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. UBS Group lowered their target price on shares of First Solar from $360.00 to $285.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft set a $265.00 price target on First Solar in a research note on Thursday, February 27th. JPMorgan Chase & Co. reduced their target price on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada decreased their price target on First Solar from $280.00 to $251.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $256.08.

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First Solar Trading Up 3.1 %

FSLR traded up $3.74 during trading on Monday, hitting $125.93. The company's stock had a trading volume of 2,689,100 shares, compared to its average volume of 2,733,280. 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 twelve month low of $116.56 and a twelve month high of $306.77. The stock's fifty day moving average price is $139.83 and its 200-day moving average price is $176.18. The firm has a market capitalization of $13.48 billion, a P/E ratio of 10.85, a PEG ratio of 0.19 and a beta of 1.48.

First Solar (NASDAQ:FSLR - Get Free Report) last posted 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. Analysts anticipate that First Solar will post 13.05 EPS for the current year.

Insider Buying and Selling at First Solar

In other news, CEO Mark R. Widmar sold 1,272 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $169,125.12. Following the transaction, the chief executive officer now directly owns 109,000 shares in the company, valued at approximately $14,492,640. This represents a 1.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the transaction, the insider now directly owns 3,549 shares in the company, valued at $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock valued at $4,767,158 in the last three months. Company insiders own 0.58% of the company's stock.

Institutional Investors Weigh In On First Solar

A number of institutional investors have recently made changes to their positions in FSLR. Clear Harbor Asset Management LLC lifted its stake in First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer's stock worth $1,623,000 after purchasing an additional 55 shares during the last quarter. Doliver Advisors LP lifted its stake in shares of First Solar by 1.2% in the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer's stock valued at $831,000 after acquiring an additional 56 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after acquiring an additional 63 shares during the period. Independent Advisor Alliance grew its position in First Solar by 3.1% during the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer's stock worth $368,000 after acquiring an additional 63 shares during the last quarter. Finally, Huntington National Bank increased its stake in First Solar by 15.3% in the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer's stock worth $90,000 after purchasing an additional 68 shares during the period. Hedge funds and other 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.