First Solar (NASDAQ:FSLR) Trading 1% Higher – Should You Buy?

First Solar, Inc. (NASDAQ:FSLR) shares were up 1% on Monday . The stock traded as high as $135.70 and last traded at $133.80. Approximately 531,927 shares changed hands during trading, a decline of 80% from the average daily volume of 2,678,321 shares. The stock had previously closed at $132.51.

Analysts Set New Price Targets

Several analysts recently issued reports on FSLR shares. Barclays reduced their price target on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Wells Fargo & Company reduced their price objective on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Guggenheim decreased their target price on First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Seaport Res Ptn upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $230.00 price target (down from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Stock Up 2.3 %

The company has a fifty day moving average price of $162.48 and a 200 day moving average price of $191.07. The company has a market cap of $14.51 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. As a group, analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity at First Solar

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,739 shares of company stock valued at $4,289,403. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of First Solar by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock valued at $2,259,697,000 after acquiring an additional 120,289 shares during the last quarter. State Street Corp boosted its holdings in First Solar by 2.2% in the third quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after purchasing an additional 108,984 shares during the last quarter. Geode Capital Management LLC grew its position in First Solar by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer’s stock worth $469,154,000 after purchasing an additional 63,739 shares during the period. Wellington Management Group LLP raised its stake in First Solar by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock valued at $415,899,000 after buying an additional 262,482 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of First Solar by 13.9% in the 4th quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer’s stock worth $323,410,000 after purchasing an additional 223,933 shares during the period. 92.08% of the stock is currently owned by institutional investors.

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.