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

First Solar (NASDAQ:FSLR) had its price objective trimmed by Guggenheim from $304.00 to $253.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the solar cell manufacturer’s stock.

FSLR has been the topic of several other research reports. Roth Mkm restated a “buy” rating and set a $280.00 price objective on shares of First Solar in a report on Wednesday, February 26th. BMO Capital Markets reiterated an “outperform” rating and set a $230.00 price objective (down from $260.00) on shares of First Solar in a report 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. JPMorgan Chase & Co. dropped their price target on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Robert W. Baird dropped their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $258.29.

First Solar Trading Up 1.1 %

Shares of FSLR stock opened at $130.05 on Monday. The company has a market capitalization of $13.92 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 0.19 and a beta of 1.48. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $144.76 and a 200 day moving average price of $180.27. First Solar has a twelve month low of $120.60 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.48 billion. Research analysts forecast that First Solar will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction 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 completion of the transaction, the insider now owns 3,549 shares of the company’s stock, valued at $484,793.40. The trade was a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the sale, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock worth $4,767,158 in the last ninety days. 0.58% of the stock is owned by insiders.

Institutional Investors Weigh In On First Solar

Several large investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its holdings 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 worth $47,000 after acquiring an additional 63 shares during the period. Crews Bank & Trust acquired a new stake in shares of First Solar in the fourth quarter valued at approximately $53,000. Hudson Edge Investment Partners Inc. bought a new stake in shares of First Solar during the fourth quarter valued at approximately $53,000. Banque Transatlantique SA acquired a new position in shares of First Solar during the fourth quarter worth approximately $53,000. Finally, CoreFirst Bank & Trust acquired a new stake in First Solar in the 4th quarter valued at approximately $54,000. 92.08% of the stock is owned by institutional investors and hedge funds.

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.