UBS Group Has Lowered Expectations for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its target price lowered by investment analysts at UBS Group from $285.00 to $240.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the solar cell manufacturer’s stock. UBS Group’s target price would indicate a potential upside of 89.24% from the company’s current price.

Several other brokerages have also recently issued reports on FSLR. Royal Bank of Canada decreased their target price on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Robert W. Baird reduced their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Bank of America lowered their price objective on shares of First Solar from $236.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $251.63.

First Solar Stock Performance

NASDAQ:FSLR opened at $126.82 on Monday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm’s fifty day simple moving average is $138.39 and its 200 day simple moving average is $174.42. The stock has a market cap of $13.58 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. First Solar has a twelve month low of $116.56 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 the consensus estimate of $4.81 by ($1.16). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, research analysts predict that First Solar will post 13.05 EPS for the current year.

Insider Activity at First Solar

In other First Solar news, CTO Markus Gloeckler sold 380 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $50,825.00. Following the transaction, the chief technology officer now owns 17,594 shares of the company’s stock, valued at $2,353,197.50. This represents a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,311 shares of company stock worth $4,767,158. Company insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Several institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB grew its holdings in First Solar by 12.3% during the 1st quarter. Handelsbanken Fonder AB now owns 421,217 shares of the solar cell manufacturer’s stock worth $53,254,000 after acquiring an additional 46,207 shares in the last quarter. Fiduciary Financial Group LLC purchased a new stake in shares of First Solar in the 1st quarter worth approximately $218,000. City Holding Co. boosted its stake in shares of First Solar by 13.8% during the first quarter. City Holding Co. now owns 1,896 shares of the solar cell manufacturer’s stock valued at $240,000 after purchasing an additional 230 shares in the last quarter. Courier Capital LLC increased its holdings in First Solar by 2.5% during the first quarter. Courier Capital LLC now owns 10,131 shares of the solar cell manufacturer’s stock valued at $1,281,000 after buying an additional 249 shares during the period. Finally, Bangor Savings Bank grew its stake in First Solar by 5.3% in the first quarter. Bangor Savings Bank now owns 5,124 shares of the solar cell manufacturer’s stock valued at $648,000 after purchasing an additional 257 shares during the last quarter. Hedge funds and other institutional investors 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.