JPMorgan Chase & Co. Lowers First Solar (NASDAQ:FSLR) Price Target to $268.00

First Solar (NASDAQ:FSLR) had its price objective trimmed by JPMorgan Chase & Co. from $282.00 to $268.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the solar cell manufacturer’s stock.

Other analysts also recently issued research reports about the company. Morgan Stanley cut their price target on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Barclays cut their target price on First Solar from $275.00 to $273.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Guggenheim restated a “buy” rating and set a $335.00 price target on shares of First Solar in a research report on Wednesday, January 22nd. The Goldman Sachs Group cut their price objective on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Citigroup reduced their target price on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday. Three 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.00.

First Solar Stock Performance

First Solar stock opened at $156.84 on Wednesday. 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 $144.28 and a 12 month high of $306.77. The company has a fifty day moving average price of $174.00 and a two-hundred day moving average price of $199.08. The company has a market cap of $16.79 billion, a PE ratio of 13.51, a P/E/G ratio of 0.19 and a beta of 1.47.

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

Institutional Trading of First Solar

Large investors have recently added to or reduced their stakes in the business. Strengthening Families & Communities LLC bought a new position in shares of First Solar in the third quarter valued at $25,000. Kennebec Savings Bank acquired a new position in shares of First Solar in the 3rd quarter worth $29,000. Larson Financial Group LLC raised its position in shares of First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 107 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares during the last quarter. Finally, Crews Bank & Trust acquired a new position in shares of First Solar in the 4th quarter valued at $53,000. 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.