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

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

FSLR has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on First Solar in a report on Thursday. Royal Bank of Canada dropped their price objective on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a report on Wednesday. Citigroup dropped 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. Morgan Stanley dropped their price objective on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Roth Mkm restated a “buy” rating and issued a $280.00 price objective on shares of First Solar in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Price Performance

NASDAQ FSLR opened at $136.18 on Thursday. The company has a 50 day simple moving average of $172.38 and a 200-day simple moving average of $197.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm has a market capitalization of $14.58 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. First Solar has a 52-week low of $133.90 and a 52-week high of $306.77.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FSLR. Raymond James & Associates lifted its position in First Solar by 10.1% in the third quarter. Raymond James & Associates now owns 13,040 shares of the solar cell manufacturer’s stock worth $3,253,000 after purchasing an additional 1,197 shares during the period. Private Advisor Group LLC lifted its position in First Solar by 4.9% in the third quarter. Private Advisor Group LLC now owns 3,877 shares of the solar cell manufacturer’s stock worth $967,000 after purchasing an additional 180 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in First Solar by 12.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,912 shares of the solar cell manufacturer’s stock worth $1,475,000 after purchasing an additional 636 shares during the period. State of Alaska Department of Revenue lifted its position in First Solar by 6.8% in the third quarter. State of Alaska Department of Revenue now owns 12,434 shares of the solar cell manufacturer’s stock worth $3,101,000 after purchasing an additional 795 shares during the period. Finally, New York State Teachers Retirement System lifted its position in First Solar by 10.9% in the third quarter. New York State Teachers Retirement System now owns 104,400 shares of the solar cell manufacturer’s stock worth $26,042,000 after purchasing an additional 10,232 shares during the period. 92.08% of the stock is 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.