First Solar Inc. (NASDAQ:FSLR) was downgraded by analysts at Avondale Partners from a “market perform” rating to an “underperform” rating in a report issued on Thursday. They presently have a $20.00 price objective on the solar cell manufacturer’s stock. Avondale Partners’ target price points to a potential downside of 31.53% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Morgan Stanley set a $59.00 price target on First Solar and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $56.00 price target on shares of First Solar in a research note on Friday, August 5th. Vetr upgraded First Solar from a “hold” rating to a “buy” rating and set a $50.01 price target for the company in a research note on Tuesday, July 26th. Williams Capital began coverage on First Solar in a research note on Friday, September 30th. They set a “buy” rating and a $50.00 price target for the company. Finally, Goldman Sachs Group Inc. downgraded First Solar from a “buy” rating to a “neutral” rating and cut their price target for the company from $58.00 to $42.00 in a research note on Thursday, October 6th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $48.99.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

First Solar (NASDAQ:FSLR) opened at 29.21 on Thursday. First Solar has a 52-week low of $28.60 and a 52-week high of $74.29. The firm has a market cap of $3.04 billion, a P/E 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 (NASDAQ:FSLR) last issued its earnings results on Wednesday, November 2nd. The solar cell manufacturer reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.48. The company earned $688 million during the quarter, compared to the consensus estimate of $980.48 million. First Solar had a return on equity of 9.58% and a net margin of 14.72%. The firm’s revenue for the quarter was down 45.9% compared to the same quarter last year. During the same period last year, the business posted $3.41 EPS. Equities analysts predict that First Solar will post $4.64 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Northwestern Mutual Investment Management Company LLC increased 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 last quarter. HBK Sorce Advisory LLC increased 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 last quarter. Oregon Public Employees Retirement Fund increased 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 last quarter. IBM Retirement Fund increased 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 last quarter. Finally, Scotia Capital Inc. increased 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 last quarter. 55.67% of the stock is owned by hedge funds and other institutional investors.

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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