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

Shares of First Solar, Inc. (NASDAQ:FSLR) have earned a consensus rating of “Moderate Buy” from the twenty-seven research firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, twenty-three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $279.04.

A number of research analysts have commented on the company. Susquehanna decreased their price objective on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. BMO Capital Markets reiterated an “outperform” rating and issued a $260.00 price objective (down from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Citigroup raised First Solar from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. Morgan Stanley reduced their target price on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of First Solar to a “hold” rating in a research note on Tuesday, November 5th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its holdings in shares of First Solar by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 131,634 shares of the solar cell manufacturer’s stock valued at $32,835,000 after buying an additional 12,439 shares during the last quarter. Peapack Gladstone Financial Corp lifted its stake in First Solar by 33.3% in the third quarter. Peapack Gladstone Financial Corp now owns 24,553 shares of the solar cell manufacturer’s stock valued at $6,125,000 after acquiring an additional 6,135 shares during the last quarter. Blankinship & Foster LLC bought a new position in shares of First Solar in the 3rd quarter valued at about $935,000. Morse Asset Management Inc increased its stake in shares of First Solar by 10.7% during the 3rd quarter. Morse Asset Management Inc now owns 12,449 shares of the solar cell manufacturer’s stock worth $3,105,000 after purchasing an additional 1,199 shares during the last quarter. Finally, Virtu Financial LLC raised its holdings in shares of First Solar by 38.5% in the 3rd quarter. Virtu Financial LLC now owns 8,041 shares of the solar cell manufacturer’s stock valued at $2,006,000 after purchasing an additional 2,235 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Performance

First Solar stock opened at $192.57 on Friday. The stock has a 50-day simple moving average of $209.90 and a 200 day simple moving average of $225.58. The stock has a market capitalization of $20.62 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 0.34 and a beta of 1.48. 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 has a 12-month low of $135.88 and a 12-month high of $306.77.

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

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.