Guggenheim Lowers First Solar (NASDAQ:FSLR) Price Target to $304.00

First Solar (NASDAQ:FSLR) had its target price lowered by Guggenheim from $335.00 to $304.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the solar cell manufacturer’s stock.

Several other research analysts also recently commented on FSLR. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $218.00 to $259.00 in a research note on Tuesday, February 11th. Robert W. Baird decreased their target price on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada cut their price target on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research report on Wednesday. Citigroup decreased their price objective on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company lowered their target price on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $263.63.

First Solar Stock Performance

NASDAQ FSLR opened at $141.18 on Thursday. The company has a market capitalization of $15.11 billion, a P/E ratio of 12.16, a P/E/G ratio of 0.19 and a beta of 1.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar has a 52-week low of $140.84 and a 52-week high of $306.77. The company has a fifty day moving average of $173.30 and a 200-day moving average of $198.68.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strengthening Families & Communities LLC bought a new position in shares of First Solar during the third quarter valued at $25,000. Kennebec Savings Bank purchased a new stake in First Solar during the 3rd quarter valued at about $29,000. Larson Financial Group LLC increased its stake in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after buying an additional 63 shares during the last quarter. Finally, Crews Bank & Trust bought a new position in shares of First Solar in the fourth quarter worth approximately $53,000. Institutional investors own 92.08% of the company’s stock.

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.