First Solar (NASDAQ:FSLR) Given New $285.00 Price Target at UBS Group

First Solar (NASDAQ:FSLR) had its price objective dropped by UBS Group from $360.00 to $285.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the solar cell manufacturer’s stock. UBS Group’s price target would indicate a potential upside of 76.35% from the stock’s current price.

Several other research firms also recently weighed in on FSLR. Bank of America decreased their price objective on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. BMO Capital Markets reaffirmed an “outperform” rating and set a $230.00 target price (down from $260.00) on shares of First Solar in a research note on Wednesday. Evercore ISI cut their target price on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Morgan Stanley lowered their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, Guggenheim reissued a “buy” rating and set a $335.00 target price on shares of First Solar in a research report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $268.00.

First Solar Price Performance

First Solar stock traded up $14.15 during midday trading on Wednesday, reaching $161.61. 5,353,528 shares of the stock were exchanged, compared to its average volume of 2,424,746. First Solar has a 52 week low of $144.28 and a 52 week high of $306.77. The firm has a market cap of $17.30 billion, a PE ratio of 13.92, a PEG ratio of 0.19 and a beta of 1.47. The company’s fifty day moving average is $174.55 and its 200-day moving average is $199.38. 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) last announced its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. On average, sell-side analysts forecast that First Solar will post 13.05 EPS for the current year.

Institutional Trading of First Solar

A number of hedge funds have recently bought and sold shares of FSLR. Norges Bank acquired a new stake in First Solar in the 4th quarter valued at about $317,399,000. Wellington Management Group LLP increased its holdings in 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 buying an additional 904,498 shares during the last quarter. Demars Financial Group LLC increased its holdings in First Solar by 17,404.5% during the fourth quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer’s stock worth $127,379,000 after buying an additional 718,631 shares during the last quarter. Mirova US LLC increased its holdings in shares of First Solar by 961.0% in the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock valued at $113,906,000 after purchasing an additional 585,394 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of First Solar by 1,757.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after purchasing an additional 516,783 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

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.