First Solar (NASDAQ:FSLR) Given New $257.00 Price Target at Mizuho

First Solar (NASDAQ:FSLR - Free Report) had its price target decreased by Mizuho from $274.00 to $257.00 in a research note released on Thursday, Benzinga reports. Mizuho currently has a neutral rating on the solar cell manufacturer's stock.

A number of other research firms have also issued reports on FSLR. DZ Bank upgraded First Solar from a "hold" rating to a "buy" rating and set a $280.00 price target for the company in a research report on Thursday, August 1st. BMO Capital Markets reaffirmed an "outperform" rating and issued a $260.00 target price (down from $286.00) on shares of First Solar in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of First Solar from $262.00 to $282.00 and gave the company an "overweight" rating in a research report on Tuesday, July 16th. Citigroup upgraded shares of First Solar from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group decreased their target price on shares of First Solar from $271.00 to $266.00 and set a "buy" rating on the stock in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $281.13.

First Solar Price Performance

Shares of FSLR stock traded down $3.02 during mid-day trading on Thursday, hitting $194.48. 2,856,101 shares of the stock were exchanged, compared to its average volume of 2,425,465. First Solar has a 52-week low of $129.21 and a 52-week high of $306.77. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The company has a market cap of $20.82 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 0.34 and a beta of 1.44. The firm has a fifty day moving average of $222.68 and a 200 day moving average of $223.93.

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

Insider Buying and Selling

In related news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares in the company, valued at $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Byron Michael Jeffers sold 1,766 shares of the firm's stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the sale, the chief accounting officer now owns 500 shares of the company's stock, valued at approximately $108,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the company's stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares of the company's stock, valued at $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,885 shares of company stock worth $2,405,757. Company insiders own 0.58% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FSLR. Vanguard Group Inc. grew its holdings in shares of First Solar by 0.9% during the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer's stock worth $2,068,991,000 after purchasing an additional 105,236 shares during the last quarter. Electron Capital Partners LLC increased its position in First Solar by 81,947.0% during the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer's stock worth $1,729,223,000 after buying an additional 7,660,409 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in First Solar by 11.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer's stock valued at $472,963,000 after buying an additional 279,719 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of First Solar by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 795,393 shares of the solar cell manufacturer's stock valued at $179,478,000 after acquiring an additional 64,265 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of First Solar by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 652,354 shares of the solar cell manufacturer's stock worth $147,080,000 after acquiring an additional 2,378 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

About First Solar

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.