First Solar’s (FSLR) “Buy” Rating Reaffirmed at Roth Mkm

First Solar (NASDAQ:FSLR)‘s stock had its “buy” rating restated by research analysts at Roth Mkm in a research note issued on Wednesday,Benzinga reports. They currently have a $280.00 price objective on the solar cell manufacturer’s stock. Roth Mkm’s price target would suggest a potential upside of 98.33% from the company’s current price.

Several other research analysts have also recently commented on the company. Guggenheim reiterated a “buy” rating and issued a $335.00 price target on shares of First Solar in a research note on Wednesday, January 22nd. The Goldman Sachs Group cut their target price on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Susquehanna dropped their price target on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Evercore ISI cut their price target on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $263.63.

First Solar Stock Performance

First Solar stock opened at $141.18 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar has a one year low of $140.84 and a one year high of $306.77. The stock’s 50 day moving average price is $173.30 and its 200 day moving average price is $198.68. The firm has a market capitalization of $15.11 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share 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 firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. As a group, sell-side analysts expect that First Solar will post 13.05 EPS for the current fiscal year.

Hedge Funds Weigh In On First Solar

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in First Solar during the 4th quarter worth $317,399,000. Wellington Management Group LLP lifted its holdings in First Solar by 75.8% in the third 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 period. Demars Financial Group LLC lifted its holdings in First Solar by 17,404.5% in the fourth quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer’s stock worth $127,379,000 after purchasing an additional 718,631 shares during the period. Mirova US LLC grew its position in First Solar by 961.0% in the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock valued at $113,906,000 after buying an additional 585,394 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in 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 valued at $136,242,000 after buying an additional 516,783 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.