Barclays Cuts First Solar (NASDAQ:FSLR) Price Target to $236.00

First Solar (NASDAQ:FSLR) had its price objective cut by Barclays from $273.00 to $236.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the solar cell manufacturer’s stock.

Several other analysts have also issued reports on FSLR. Deutsche Bank Aktiengesellschaft set a $265.00 price target on First Solar in a report on Thursday. Robert W. Baird lowered their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. UBS Group lowered their price objective on First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday. Guggenheim lowered their price objective on First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Mizuho upgraded First Solar from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $218.00 to $259.00 in a research report on Tuesday, February 11th. Three investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

First Solar Stock Performance

NASDAQ:FSLR opened at $136.18 on Friday. The stock has a 50-day simple moving average of $172.38 and a two-hundred day simple moving average of $198.11. First Solar has a 52-week low of $133.90 and a 52-week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The firm has a market capitalization of $14.58 billion, a PE ratio of 11.73, a P/E/G ratio of 0.19 and a beta of 1.47.

First Solar (NASDAQ:FSLR) last released 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). 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 for the quarter, compared to the consensus estimate of $1.48 billion. Analysts forecast that First Solar will post 13.05 EPS for the current year.

Institutional Investors Weigh In On First Solar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSLR. Strengthening Families & Communities LLC purchased a new stake in First Solar during the third quarter valued at approximately $25,000. Kennebec Savings Bank purchased a new stake in First Solar during the third quarter valued at approximately $29,000. Larson Financial Group LLC raised its position in First Solar by 214.0% during the third 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 during the period. Smartleaf Asset Management LLC raised its position in 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 period. Finally, Crews Bank & Trust purchased a new stake in First Solar during the fourth quarter valued at approximately $53,000. 92.08% of the stock is currently owned by hedge funds and other 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.