Robert W. Baird restated their outperform rating on shares of First Solar Inc. (NASDAQ:FSLR) in a research report released on Saturday. The brokerage currently has a $33.00 target price on the solar cell manufacturer’s stock, down from their previous target price of $45.00.

A number of other research firms also recently commented on FSLR. JMP Securities set a $32.00 target price on First Solar and gave the stock a sell rating in a report on Saturday, September 17th. Vetr raised First Solar from a hold rating to a buy rating and set a $50.01 target price on the stock in a report on Tuesday, July 26th. S&P Equity Research downgraded First Solar from a buy rating to a hold rating and reduced their target price for the stock from $75.00 to $55.00 in a report on Friday, August 5th. Mizuho reduced their target price on First Solar from $67.00 to $46.00 and set a neutral rating on the stock in a report on Wednesday, August 10th. Finally, Roth Capital downgraded First Solar from a buy rating to a neutral rating and reduced their target price for the stock from $55.00 to $40.00 in a report on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $52.43.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

Shares of First Solar (NASDAQ:FSLR) traded down 6.26% on Friday, reaching $29.21. The company had a trading volume of 7,522,578 shares. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 5.97 and a beta of 2.20. The stock has a 50 day moving average price of $37.44 and a 200-day moving average price of $42.75. First Solar has a 12 month low of $28.60 and a 12 month high of $74.29.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Wednesday, November 2nd. The solar cell manufacturer reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.48. First Solar had a return on equity of 9.58% and a net margin of 14.72%. The firm earned $688 million during the quarter, compared to analyst estimates of $980.48 million. During the same quarter last year, the firm earned $3.41 EPS. First Solar’s quarterly revenue was down 45.9% on a year-over-year basis. Analysts forecast that First Solar will post $4.48 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Investment Management Company LLC boosted its position in First Solar by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 2,924 shares of the solar cell manufacturer’s stock worth $142,000 after buying an additional 11 shares during the period. HBK Sorce Advisory LLC boosted its position in First Solar by 0.4% in the third quarter. HBK Sorce Advisory LLC now owns 6,011 shares of the solar cell manufacturer’s stock worth $237,000 after buying an additional 23 shares during the period. Oregon Public Employees Retirement Fund boosted its position in First Solar by 0.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 7,812 shares of the solar cell manufacturer’s stock worth $308,000 after buying an additional 41 shares during the period. IBM Retirement Fund boosted its position in First Solar by 0.6% in the second quarter. IBM Retirement Fund now owns 7,643 shares of the solar cell manufacturer’s stock worth $371,000 after buying an additional 49 shares during the period. Finally, Scotia Capital Inc. boosted its position in First Solar by 1.2% in the second quarter. Scotia Capital Inc. now owns 4,459 shares of the solar cell manufacturer’s stock worth $216,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 57.01% of the company’s stock.

First Solar Company Profile

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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