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

First Solar, Inc. (NASDAQ:FSLR) has earned a consensus recommendation of “Buy” from the twenty-seven research firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $276.29.

FSLR has been the topic of several recent analyst reports. Guggenheim restated a “buy” rating and set a $335.00 price objective on shares of First Solar in a research report on Wednesday, January 22nd. The Goldman Sachs Group lowered their price objective on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Citigroup raised First Solar from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, Barclays reduced their price objective on shares of First Solar from $275.00 to $273.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th.

First Solar Trading Up 0.4 %

First Solar stock opened at $168.34 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar has a 12-month low of $141.70 and a 12-month high of $306.77. The firm has a market capitalization of $18.02 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 0.19 and a beta of 1.47. The firm has a 50 day moving average of $184.14 and a 200 day moving average of $204.06.

Institutional Investors Weigh In On First Solar

A number of institutional investors and hedge funds have recently modified their holdings of FSLR. State Street Corp increased its stake in First Solar by 2.2% in the third quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after purchasing an additional 108,984 shares during the period. Geode Capital Management LLC grew its holdings in shares of First Solar by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock worth $647,440,000 after purchasing an additional 24,143 shares during the last quarter. Wellington Management Group LLP increased its stake in First Solar by 75.8% in the 3rd 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 period. Amundi lifted its holdings in First Solar by 31.0% during the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock valued at $336,871,000 after buying an additional 426,797 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in First Solar by 0.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock valued at $434,977,000 after buying an additional 15,890 shares during the period. 92.08% of the stock is owned by institutional investors.

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.