Analysts Set First Solar, Inc. (NASDAQ:FSLR) Price Target at $277.75

First Solar, Inc. (NASDAQ:FSLR) has been given a consensus rating of “Moderate Buy” by the twenty-seven research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $277.75.

Several analysts have recently weighed in on the company. The Goldman Sachs Group reduced their price target on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Truist Financial assumed coverage on shares of First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 target price on the stock. Wells Fargo & Company dropped their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Barclays reduced their price objective on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Finally, Mizuho lowered their target price on First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st.

First Solar Trading Up 0.8 %

Shares of First Solar stock opened at $186.82 on Monday. The firm has a market capitalization of $20.00 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 0.35 and a beta of 1.49. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $190.46 and its 200 day moving average is $210.33. First Solar has a 1 year low of $135.88 and a 1 year high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) 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 company 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 posted $2.50 earnings per share. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. Equities research analysts forecast that First Solar will post 13.15 earnings per share for the current fiscal year.

Institutional Trading of First Solar

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Trust Co. of Vermont grew its holdings in shares of First Solar by 4.6% during the fourth quarter. Trust Co. of Vermont now owns 7,687 shares of the solar cell manufacturer’s stock valued at $1,355,000 after buying an additional 336 shares during the last quarter. Trium Capital LLP lifted its position in First Solar by 22.4% in the 4th quarter. Trium Capital LLP now owns 7,498 shares of the solar cell manufacturer’s stock valued at $1,321,000 after acquiring an additional 1,371 shares in the last quarter. Boston Common Asset Management LLC boosted its stake in First Solar by 9.2% during the 4th quarter. Boston Common Asset Management LLC now owns 75,811 shares of the solar cell manufacturer’s stock valued at $13,361,000 after purchasing an additional 6,377 shares during the last quarter. Bouvel Investment Partners LLC increased its holdings in First Solar by 1.1% during the 4th quarter. Bouvel Investment Partners LLC now owns 16,514 shares of the solar cell manufacturer’s stock worth $2,910,000 after purchasing an additional 185 shares in the last quarter. Finally, Beech Hill Advisors Inc. increased its holdings in First Solar by 2.6% during the 4th quarter. Beech Hill Advisors Inc. now owns 27,123 shares of the solar cell manufacturer’s stock worth $4,780,000 after purchasing an additional 683 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

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.