Brokerages Set First Solar, Inc. (NASDAQ:FSLR) Price Target at $279.04

First Solar, Inc. (NASDAQ:FSLR) has been given an average recommendation of “Moderate Buy” by the twenty-seven ratings firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, twenty-three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $279.04.

FSLR has been the topic of several research analyst reports. Seaport Res Ptn raised shares of First Solar to a “hold” rating in a research note on Tuesday, November 5th. UBS Group upped their price objective on shares of First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Roth Mkm decreased their price objective on shares of First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Oppenheimer upped their target price on shares of First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st.

First Solar Stock Performance

NASDAQ FSLR opened at $192.32 on Friday. The stock has a market cap of $20.59 billion, a P/E ratio of 16.57, a PEG ratio of 0.33 and a beta of 1.48. The company’s 50-day simple moving average is $211.84 and its 200 day simple moving average is $225.80. First Solar has a twelve month low of $135.88 and a twelve month high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). The firm had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. First Solar’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.50 earnings per share. As a group, research analysts forecast that First Solar will post 13.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FSLR. Electron Capital Partners LLC increased its stake in shares of First Solar by 81,947.0% during the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after purchasing an additional 7,660,409 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of First Solar by 75.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after purchasing an additional 904,498 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of First Solar by 1,757.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock worth $136,242,000 after purchasing an additional 516,783 shares during the last quarter. Merewether Investment Management LP increased its stake in shares of First Solar by 993.4% during the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock worth $80,553,000 after purchasing an additional 293,400 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new position in shares of First Solar during the 3rd quarter worth about $67,652,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.