Analysts Set First Solar, Inc. (NASDAQ:FSLR) Target Price at $276.29

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) has received an average rating of "Buy" from the twenty-seven brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, twenty-three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $276.29.

FSLR has been the subject of a number of recent analyst reports. Piper Sandler upped their price objective on shares of First Solar from $210.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, December 2nd. Citigroup raised First Solar from a "neutral" rating to a "buy" rating and upped their target price for the company from $200.00 to $254.00 in a report on Tuesday, October 22nd. Janney Montgomery Scott upgraded First Solar from a "neutral" rating to a "buy" rating and set a $260.00 price target on the stock in a report on Tuesday, October 29th. Robert W. Baird reduced their price objective on First Solar from $307.00 to $267.00 and set an "outperform" rating for the company in a research note on Wednesday, December 18th. Finally, Barclays lowered their target price on First Solar from $275.00 to $273.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th.

Institutional Investors Weigh In On First Solar

Hedge funds and other institutional investors have recently modified their holdings of the stock. Truist Financial Corp grew its position in shares of First Solar by 10.9% during the 2nd quarter. Truist Financial Corp now owns 6,578 shares of the solar cell manufacturer's stock valued at $1,483,000 after purchasing an additional 648 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in First Solar during the second quarter valued at $650,000. Czech National Bank grew its position in First Solar by 6.9% during the third quarter. Czech National Bank now owns 21,812 shares of the solar cell manufacturer's stock worth $5,441,000 after buying an additional 1,415 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of First Solar by 9.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,859 shares of the solar cell manufacturer's stock valued at $464,000 after acquiring an additional 161 shares in the last quarter. Finally, Diversified Trust Co bought a new stake in shares of First Solar during the 3rd quarter valued at about $215,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Down 3.2 %

FSLR traded down $5.45 during mid-day trading on Friday, reaching $162.89. 2,583,256 shares of the stock were exchanged, compared to its average volume of 2,257,668. First Solar has a 1 year low of $141.70 and a 1 year high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock has a market capitalization of $17.44 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. The company has a 50 day moving average price of $183.24 and a two-hundred day moving average price of $203.69.

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.