First Solar Inc. (NASDAQ:FSLR) was upgraded by equities researchers at JMP Securities from an “underperform” rating to a “market perform” rating in a research note issued on Thursday.

Several other research firms also recently weighed in on FSLR. Deutsche Bank AG reiterated a “hold” rating and issued a $44.00 target price on shares of First Solar in a research note on Thursday, August 4th. Robert W. Baird reiterated an “outperform” rating and issued a $60.00 target price on shares of First Solar in a research note on Thursday, August 4th. Vetr downgraded shares of First Solar from a “strong-buy” rating to a “buy” rating and set a $54.99 target price for the company. in a research note on Wednesday, August 3rd. Morgan Stanley set a $59.00 target price on shares of First Solar and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. Finally, Roth Capital reiterated a “buy” rating and issued a $55.00 target price (down previously from $70.00) on shares of First Solar in a research note on Friday, August 5th. Twenty investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $53.03.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

First Solar (NASDAQ:FSLR) opened at 32.82 on Thursday. The firm’s 50-day moving average is $37.94 and its 200-day moving average is $43.01. First Solar has a 52 week low of $30.85 and a 52 week high of $74.29. The company has a market cap of $3.41 billion, a PE ratio of 6.70 and a beta of 2.20.

First Solar (NASDAQ:FSLR) last posted its earnings results on Wednesday, November 2nd. The solar cell manufacturer reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.48. The firm earned $688 million during the quarter, compared to the consensus estimate of $980.48 million. First Solar had a net margin of 14.72% and a return on equity of 9.58%. The company’s revenue was down 45.9% on a year-over-year basis. During the same quarter last year, the company earned $3.41 earnings per share. On average, analysts expect that First Solar will post $4.42 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in FSLR. Capital World Investors boosted its position in shares of First Solar by 147.0% in the third quarter. Capital World Investors now owns 7,100,000 shares of the solar cell manufacturer’s stock worth $280,379,000 after buying an additional 4,225,000 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of First Solar by 3.2% in the second quarter. Vanguard Group Inc. now owns 6,645,256 shares of the solar cell manufacturer’s stock worth $322,162,000 after buying an additional 208,676 shares during the last quarter. State Street Corp boosted its position in shares of First Solar by 0.5% in the second quarter. State Street Corp now owns 2,589,167 shares of the solar cell manufacturer’s stock worth $125,528,000 after buying an additional 11,925 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of First Solar by 25.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,534,789 shares of the solar cell manufacturer’s stock worth $122,884,000 after buying an additional 509,527 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of First Solar by 50.9% in the second quarter. AQR Capital Management LLC now owns 2,130,033 shares of the solar cell manufacturer’s stock worth $103,264,000 after buying an additional 718,308 shares during the last quarter. 57.01% of the stock is currently owned by hedge funds and other institutional investors.

About First Solar

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Company operates through two segments: components and systems.

5 Day Chart for NASDAQ:FSLR

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