First Solar (NASDAQ:FSLR) Raised to “Hold” at StockNews.com

First Solar (NASDAQ:FSLR) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

A number of other analysts have also recently weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Roth Mkm cut their price target on shares of First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. BMO Capital Markets restated an “outperform” rating and issued a $260.00 price objective (down previously from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Robert W. Baird cut their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, Bank of America decreased their target price on First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $279.04.

First Solar Price Performance

First Solar stock opened at $176.24 on Thursday. The stock has a market cap of $18.87 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 0.35 and a beta of 1.46. The company has a fifty day simple moving average of $192.90 and a 200-day simple moving average of $214.76. 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 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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm earned $2.50 earnings per share. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. Equities analysts expect that First Solar will post 13.15 EPS for the current fiscal year.

Institutional Investors Weigh In On First Solar

Hedge funds have recently added to or reduced their stakes in the company. Western Financial Corp CA purchased a new position in shares of First Solar during the 3rd quarter worth approximately $1,209,000. Stifel Financial Corp grew its holdings in First Solar by 36.9% during the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock worth $5,350,000 after acquiring an additional 5,780 shares during the period. Harbour Capital Advisors LLC raised its position in First Solar by 224.0% in the third quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock worth $1,301,000 after acquiring an additional 3,607 shares in the last quarter. iA Global Asset Management Inc. raised its position in First Solar by 802.1% in the third quarter. iA Global Asset Management Inc. now owns 20,460 shares of the solar cell manufacturer’s stock worth $5,104,000 after acquiring an additional 18,192 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in First Solar by 6.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,140 shares of the solar cell manufacturer’s stock valued at $60,898,000 after acquiring an additional 14,597 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

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.