First Solar, Inc. (NASDAQ:FSLR) Receives $276.29 Average Price Target from Brokerages

Shares of First Solar, Inc. (NASDAQ:FSLR) have earned an average recommendation of “Buy” from the twenty-seven analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, twenty-four have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $276.38.

A number of brokerages recently weighed in on FSLR. Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a research report on Tuesday, October 29th. Evercore ISI reduced their price target on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $218.00 to $259.00 in a report on Tuesday. Wells Fargo & Company reduced their target price on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group cut their price target 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.

First Solar Stock Performance

Shares of First Solar stock opened at $161.60 on Friday. The company’s 50 day moving average price is $182.32 and its two-hundred day moving average price is $203.23. The firm has a market capitalization of $17.30 billion, a P/E ratio of 13.92, a P/E/G ratio of 0.19 and a beta of 1.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar has a fifty-two week low of $141.70 and a fifty-two week high of $306.77.

Institutional Trading of First Solar

Large investors have recently made changes to their positions in the company. Western Financial Corp CA bought a new stake in shares of First Solar during the third quarter worth about $1,209,000. Whalen Wealth Management Inc. grew its holdings 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 in the last quarter. Stifel Financial Corp increased its position in shares of First Solar by 36.9% during 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 last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in First Solar by 9.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock worth $104,910,000 after acquiring an additional 49,074 shares during the period. Finally, Golden State Equity Partners boosted its position in First Solar by 41,342.9% in the fourth quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer’s stock worth $511,000 after purchasing an additional 2,894 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.