First Solar (NASDAQ:FSLR) Price Target Cut to $236.00 by Analysts at Bank of America

First Solar (NASDAQ:FSLR - Free Report) had its target price decreased by Bank of America from $246.00 to $236.00 in a research note published on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the solar cell manufacturer's stock.

FSLR has been the subject of a number of other research reports. Seaport Res Ptn upgraded First Solar from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 15th. BMO Capital Markets reissued an "outperform" rating and set a $260.00 price target (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Hsbc Global Res raised shares of First Solar to a "strong-buy" rating in a report on Wednesday, October 9th. 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 note on Tuesday, October 29th. Finally, StockNews.com upgraded shares of First Solar from a "sell" rating to a "hold" rating in a research report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $276.29.

First Solar Stock Performance

Shares of NASDAQ:FSLR traded up $0.13 on Tuesday, reaching $167.52. 1,791,358 shares of the company's stock were exchanged, compared to its average volume of 2,164,644. The business's 50-day moving average is $186.89 and its two-hundred day moving average is $205.93. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. The firm has a market capitalization of $17.93 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 0.19 and a beta of 1.49.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $1.07 billion. During the same quarter last year, the company earned $2.50 EPS. First Solar's revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts forecast that First Solar will post 13.05 EPS for the current year.

Institutional Investors Weigh In On First Solar

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its position in shares of First Solar by 75.8% during the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer's stock worth $523,166,000 after purchasing an additional 904,498 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in First Solar by 1,757.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer's stock worth $136,242,000 after buying an additional 516,783 shares during the period. Merewether Investment Management LP lifted its stake in First Solar by 993.4% during the third quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer's stock valued at $80,553,000 after buying an additional 293,400 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of First Solar in the third quarter worth about $67,652,000. Finally, International Assets Investment Management LLC increased its position in shares of First Solar by 24,844.0% in the third quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer's stock worth $542,560,000 after acquiring an additional 216,640 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

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.