First Solar (NASDAQ:FSLR) Price Target Raised to $250.00 at Piper Sandler

First Solar (NASDAQ:FSLR) had its price objective hoisted by Piper Sandler from $210.00 to $250.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the solar cell manufacturer’s stock.

Several other brokerages also recently weighed in on FSLR. Guggenheim decreased their target price on shares of First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Morgan Stanley cut their price objective on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and raised their target price for the company from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company dropped their target price on First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Susquehanna reduced their price target on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $280.71.

First Solar Stock Up 4.3 %

Shares of NASDAQ FSLR opened at $207.92 on Monday. The stock has a fifty day moving average price of $208.12 and a 200 day moving average price of $225.92. The company has a market cap of $22.26 billion, a P/E ratio of 17.16, a P/E/G ratio of 0.35 and a beta of 1.48. First Solar has a 12-month low of $135.88 and a 12-month high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last posted its 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 company 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%. First Solar’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.50 EPS. Research analysts anticipate that First Solar will post 13.15 EPS for the current fiscal year.

Institutional Investors Weigh In On First Solar

Several large investors have recently added to or reduced their stakes in FSLR. Electron Capital Partners LLC grew its position in shares of First Solar by 81,947.0% during the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after acquiring an additional 7,660,409 shares during the last quarter. State Street Corp boosted its stake in First Solar by 2.2% during the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after purchasing an additional 108,984 shares during the period. Geode Capital Management LLC grew its position in First Solar by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock worth $647,440,000 after purchasing an additional 24,143 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of 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 valued at $523,166,000 after purchasing an additional 904,498 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of First Solar by 0.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock valued at $434,977,000 after buying an additional 15,890 shares during the last quarter. 92.08% of the stock is 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.