First Solar (NASDAQ:FSLR) Given Buy Rating at Roth Mkm

Roth Mkm restated their buy rating on shares of First Solar (NASDAQ:FSLR) in a research note released on Wednesday,Benzinga reports. They currently have a $280.00 price target on the solar cell manufacturer’s stock.

Several other equities analysts have also issued reports on the company. Citigroup decreased their target price on First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research report on Wednesday. Truist Financial restated a “buy” rating and set a $285.00 price objective (down previously from $300.00) on shares of First Solar in a report on Wednesday. The Goldman Sachs Group cut their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Robert W. Baird decreased their price target on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Finally, Susquehanna lowered their price objective on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $268.00.

First Solar Trading Up 6.4 %

Shares of NASDAQ FSLR opened at $156.84 on Wednesday. The company’s 50 day simple moving average is $174.00 and its 200 day simple moving average is $199.08. 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 fifty-two week low of $144.28 and a fifty-two week high of $306.77. The firm has a market capitalization of $16.79 billion, a P/E 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 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. On average, analysts predict that First Solar will post 13.05 EPS for the current year.

Hedge Funds Weigh In On First Solar

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of First Solar by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock valued at $2,259,697,000 after acquiring an additional 120,289 shares during the last quarter. State Street Corp grew its stake in First Solar by 2.2% in the third quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after purchasing an additional 108,984 shares in the last quarter. Geode Capital Management LLC increased its position in shares of First Solar by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer’s stock worth $469,154,000 after purchasing an additional 63,739 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of First Solar by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock worth $415,899,000 after purchasing an additional 262,482 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of First Solar by 13.9% in the 4th quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer’s stock valued at $323,410,000 after buying an additional 223,933 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.