First Solar (NASDAQ:FSLR) Price Target Lowered to $267.00 at Robert W. Baird

First Solar (NASDAQ:FSLR) had its price target reduced by Robert W. Baird from $307.00 to $267.00 in a research report sent to investors on Wednesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the solar cell manufacturer’s stock.

Other equities research analysts have also issued research reports about the stock. Guggenheim cut their price target on shares of First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and set a $260.00 price target (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Wells Fargo & Company reduced their target price on First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Evercore ISI dropped their price target on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded shares of First Solar to a “hold” rating in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $279.04.

First Solar Trading Down 2.4 %

NASDAQ FSLR traded down $4.40 during trading on Wednesday, hitting $179.87. 634,858 shares of the company’s stock traded hands, compared to its average volume of 2,495,150. The firm has a market cap of $19.26 billion, a P/E ratio of 15.49, a PEG ratio of 0.35 and a beta of 1.46. The stock has a fifty day moving average of $197.18 and a two-hundred day moving average of $221.61. 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 has a 12-month low of $135.88 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The company had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. First Solar’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $2.50 earnings per share. As a group, sell-side analysts expect that First Solar will post 13.15 EPS for the current year.

Hedge Funds Weigh In On First Solar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV increased its holdings in shares of First Solar by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after purchasing an additional 45 shares in the last quarter. Davis Investment Partners LLC increased its holdings in First Solar by 0.6% in the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock worth $1,805,000 after buying an additional 46 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in First Solar by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock worth $2,068,000 after buying an additional 49 shares during the last quarter. Gilman Hill Asset Management LLC lifted its stake in First Solar by 2.8% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock valued at $455,000 after acquiring an additional 50 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of First Solar by 6.4% during the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after acquiring an additional 55 shares during the last quarter. 92.08% of the stock is 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.