First Solar, Inc. (NASDAQ:FSLR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of First Solar, Inc. (NASDAQ:FSLR) have been given an average recommendation of “Moderate Buy” by the twenty-seven ratings firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, twenty-three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $279.04.

A number of brokerages have issued reports on FSLR. Barclays decreased their price target on First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. William Blair initiated coverage on First Solar in a report on Thursday, August 29th. They issued a “market perform” rating for the company. Wells Fargo & Company reduced their target price on First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price for the company in a report on Thursday, August 1st. Finally, UBS Group boosted their target price on First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 31st.

Hedge Funds Weigh In On First Solar

Several hedge funds have recently bought and sold shares of FSLR. Morse Asset Management Inc boosted its holdings in shares of First Solar by 10.7% during the third 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. Virtu Financial LLC boosted its holdings in First Solar by 38.5% in the third quarter. Virtu Financial LLC now owns 8,041 shares of the solar cell manufacturer’s stock valued at $2,006,000 after acquiring an additional 2,235 shares during the last quarter. TCW Group Inc. raised its position in First Solar by 27.4% in the third quarter. TCW Group Inc. now owns 16,374 shares of the solar cell manufacturer’s stock valued at $4,084,000 after purchasing an additional 3,526 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in First Solar by 60.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 122,843 shares of the solar cell manufacturer’s stock valued at $30,643,000 after purchasing an additional 46,475 shares during the period. Finally, Toronto Dominion Bank raised its position in First Solar by 68.0% in the third quarter. Toronto Dominion Bank now owns 60,083 shares of the solar cell manufacturer’s stock valued at $14,987,000 after purchasing an additional 24,312 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Trading Up 2.3 %

NASDAQ:FSLR opened at $186.05 on Friday. The firm has a market cap of $19.92 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 0.32 and a beta of 1.48. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The stock has a fifty day moving average price of $212.65 and a 200 day moving average price of $225.56. 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 quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $2.50 earnings per share. Sell-side analysts anticipate that First Solar will post 13.15 earnings per share for the current fiscal year.

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.