UBS Group Boosts First Solar (NASDAQ:FSLR) Price Target to $80.00

First Solar (NASDAQ:FSLR) had its price target hoisted by UBS Group to $80.00 in a research note published on Friday, The Fly reports. They currently have a buy rating on the solar cell manufacturer’s stock.

A number of other equities research analysts have also weighed in on the company. Barclays reaffirmed a buy rating on shares of First Solar in a research report on Friday. Zacks Investment Research lowered First Solar from a hold rating to a sell rating in a research report on Monday, April 29th. ValuEngine raised First Solar from a hold rating to a buy rating in a research report on Wednesday, May 1st. BidaskClub raised First Solar from a hold rating to a buy rating in a research report on Wednesday, June 5th. Finally, Argus boosted their price target on First Solar to $66.00 and gave the stock an average rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $70.11.

FSLR traded down $5.87 during trading hours on Friday, reaching $60.76. 92,291 shares of the company’s stock traded hands, compared to its average volume of 993,835. The company’s 50-day moving average price is $65.10. First Solar has a 52-week low of $36.51 and a 52-week high of $69.24. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.38 and a quick ratio of 3.83. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 44.10, a PEG ratio of 1.20 and a beta of 1.30.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, August 1st. The solar cell manufacturer reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.20). The firm had revenue of $585.00 million for the quarter, compared to the consensus estimate of $656.80 million. First Solar had a net margin of 0.95% and a return on equity of 0.46%. The company’s revenue for the quarter was up 89.3% on a year-over-year basis. During the same period last year, the firm earned ($0.46) earnings per share. Sell-side analysts forecast that First Solar will post 2.39 EPS for the current fiscal year.

In related news, insider Georges Antoun sold 8,476 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $57.85, for a total transaction of $490,336.60. Following the transaction, the insider now directly owns 97,546 shares of the company’s stock, valued at approximately $5,643,036.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher Bueter sold 27,490 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $61.00, for a total value of $1,676,890.00. Following the transaction, the executive vice president now directly owns 21,022 shares in the company, valued at $1,282,342. The disclosure for this sale can be found here. Insiders have sold a total of 52,918 shares of company stock worth $3,279,617 over the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC increased its position in First Solar by 2.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,520 shares of the solar cell manufacturer’s stock valued at $428,000 after buying an additional 155 shares in the last quarter. S&CO Inc. grew its stake in First Solar by 1.6% during the 1st quarter. S&CO Inc. now owns 10,741 shares of the solar cell manufacturer’s stock valued at $568,000 after purchasing an additional 165 shares during the last quarter. ETF Managers Group LLC grew its stake in First Solar by 10.3% during the 1st quarter. ETF Managers Group LLC now owns 2,017 shares of the solar cell manufacturer’s stock valued at $107,000 after purchasing an additional 189 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of First Solar by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 20,200 shares of the solar cell manufacturer’s stock worth $1,067,000 after buying an additional 200 shares during the last quarter. Finally, Winfield Associates Inc. boosted its stake in shares of First Solar by 3.9% in the first quarter. Winfield Associates Inc. now owns 5,300 shares of the solar cell manufacturer’s stock worth $280,000 after buying an additional 200 shares during the last quarter. 61.53% of the stock is currently owned by institutional investors.

About First Solar

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.

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Analyst Recommendations for First Solar (NASDAQ:FSLR)

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