First Solar, Inc. (NASDAQ:FSLR) Receives $277.75 Consensus Target Price from Brokerages

Shares of First Solar, Inc. (NASDAQ:FSLR - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twenty-seven brokerages that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $277.75.

A number of brokerages recently weighed in on FSLR. Piper Sandler boosted their price objective on shares of First Solar from $210.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, December 2nd. Morgan Stanley decreased their price objective on shares of First Solar from $329.00 to $297.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Roth Mkm cut their target price on shares of First Solar from $320.00 to $280.00 and set a "buy" rating for the company in a research report on Tuesday, October 15th. Janney Montgomery Scott raised shares of First Solar from a "neutral" rating to a "buy" rating and set a $260.00 target price for the company in a research report on Tuesday, October 29th. Finally, Jefferies Financial Group cut their target price on shares of First Solar from $271.00 to $266.00 and set a "buy" rating for the company in a research report on Thursday, October 10th.

Institutional Trading of First Solar

Several hedge funds have recently made changes to their positions in FSLR. AlphaMark Advisors LLC purchased a new stake in shares of First Solar during the 3rd quarter valued at about $25,000. Strengthening Families & Communities LLC purchased a new stake in shares of First Solar during the 3rd quarter valued at about $25,000. Kennebec Savings Bank purchased a new stake in shares of First Solar during the 3rd quarter valued at about $29,000. Itau Unibanco Holding S.A. purchased a new stake in shares of First Solar during the 2nd quarter valued at about $38,000. Finally, Larson Financial Group LLC raised its position in shares of First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer's stock valued at $39,000 after buying an additional 107 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Price Performance

FSLR stock opened at $189.24 on Monday. The firm has a 50 day moving average price of $191.64 and a 200-day moving average price of $211.08. First Solar has a 52-week low of $135.88 and a 52-week high of $306.77. The firm has a market capitalization of $20.26 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 0.35 and a beta of 1.49. 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 (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share 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 firm had revenue of $887.70 million during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the previous year, the firm earned $2.50 earnings per share. First Solar's revenue was up 10.7% on a year-over-year basis. Equities research analysts forecast that First Solar will post 13.15 EPS 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.