First Solar, Inc. (NASDAQ:FSLR) Receives $279.04 Consensus PT from Brokerages

First Solar, Inc. (NASDAQ:FSLR) has received a consensus rating of “Moderate Buy” from the twenty-seven research firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $279.04.

A number of research analysts have recently commented on FSLR shares. Evercore ISI lowered their price objective on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Barclays lowered their price target on First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. William Blair assumed coverage on shares of First Solar in a research note on Thursday, August 29th. They issued a “market perform” rating for the company. Mizuho lowered their target price on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th.

First Solar Stock Performance

Shares of FSLR stock opened at $192.57 on Friday. The firm has a market cap of $20.62 billion, a P/E ratio of 16.59, a PEG ratio of 0.34 and a beta of 1.48. 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 $135.88 and a fifty-two week high of $306.77. The stock’s 50-day moving average is $209.90 and its two-hundred day moving average is $225.58.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). The business had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 EPS. Analysts predict that First Solar will post 13.15 earnings per share for the current fiscal year.

Institutional Trading of First Solar

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

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.