First Solar (NASDAQ:FSLR) Upgraded to "Outperform" at Mizuho

First Solar (NASDAQ:FSLR - Get Free Report) was upgraded by stock analysts at Mizuho from a "neutral" rating to an "outperform" rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a $259.00 price target on the solar cell manufacturer's stock, up from their prior price target of $218.00. Mizuho's target price would indicate a potential upside of 61.79% from the stock's current price.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group reduced their price objective on shares of First Solar from $311.00 to $279.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Wells Fargo & Company cut their price target on shares of First Solar from $240.00 to $209.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. StockNews.com raised shares of First Solar from a "sell" rating to a "hold" rating in a report on Thursday, January 2nd. Morgan Stanley cut their price target 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. Finally, Roth Mkm cut their price target on shares of First Solar from $320.00 to $280.00 and set a "buy" rating for the company in a report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $276.38.

First Solar Stock Performance

First Solar stock traded down $0.25 during mid-day trading on Tuesday, reaching $160.09. The company's stock had a trading volume of 900,283 shares, compared to its average volume of 2,185,741. First Solar has a 12-month low of $141.70 and a 12-month high of $306.77. The company has a market capitalization of $17.14 billion, a P/E ratio of 13.79, a PEG ratio of 0.19 and a beta of 1.47. 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 firm's fifty day moving average price is $180.71 and its two-hundred day moving average price is $202.62.

Hedge Funds Weigh In On First Solar

Hedge funds have recently modified their holdings of the company. Western Financial Corp CA purchased a new position in shares of First Solar in the third quarter valued at about $1,209,000. Whalen Wealth Management Inc. increased its position in shares of First Solar by 47.0% in the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer's stock valued at $856,000 after acquiring an additional 1,554 shares during the period. Stifel Financial Corp increased its position in shares of First Solar by 36.9% in the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer's stock valued at $5,350,000 after acquiring an additional 5,780 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of First Solar by 9.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer's stock valued at $104,910,000 after acquiring an additional 49,074 shares during the period. Finally, Paragon Capital Management Inc. purchased a new position in shares of First Solar in the fourth quarter valued at about $1,240,000. Hedge funds and other institutional investors 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.