First Solar, Inc. (NASDAQ:FSLR) Receives $277.75 Average PT from Analysts

First Solar, Inc. (NASDAQ:FSLR) has earned an average rating of “Buy” from the twenty-seven research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, twenty-three have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $277.75.

Several analysts have recently commented on FSLR shares. Jefferies Financial Group lowered their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Barclays dropped their target price on First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and raised their price target for the company from $200.00 to $254.00 in a report on Tuesday, October 22nd. Hsbc Global Res raised First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Bank of America reduced their target price on shares of First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th.

Hedge Funds Weigh In On First Solar

A number of large investors have recently bought and sold shares of FSLR. Victory Capital Management Inc. lifted its position in First Solar by 0.5% during the 2nd quarter. Victory Capital Management Inc. now owns 43,606 shares of the solar cell manufacturer’s stock worth $9,831,000 after buying an additional 219 shares in the last quarter. Private Advisor Group LLC bought a new stake in First Solar during the second quarter worth about $834,000. Acadian Asset Management LLC acquired a new position in First Solar during the second quarter valued at approximately $794,000. Quest Partners LLC grew its stake in First Solar by 8,375.0% in the second quarter. Quest Partners LLC now owns 678 shares of the solar cell manufacturer’s stock valued at $153,000 after purchasing an additional 670 shares in the last quarter. Finally, Choreo LLC acquired a new position in shares of First Solar during the 2nd quarter worth approximately $282,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $192.88 on Monday. The firm has a market capitalization of $20.65 billion, a PE ratio of 16.61, a PEG ratio of 0.21 and a beta of 1.49. First Solar has a 1-year low of $135.88 and a 1-year high of $306.77. The business’s 50 day moving average is $190.18 and its 200-day moving average is $209.83. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

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 the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm earned $2.50 EPS. First Solar’s quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts predict that First Solar will post 13.09 earnings per share for the current year.

First Solar Company Profile

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.