Shares of First Solar, Inc. (NASDAQ:FSLR) have been assigned an average rating of “Hold” from the twenty-four analysts that are currently covering the company, MarketBeat reports. Twelve research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $53.04.

A number of brokerages recently issued reports on FSLR. Roth Capital set a $70.00 target price on shares of First Solar and gave the stock a “buy” rating in a research report on Friday. Needham & Company LLC raised their target price on shares of First Solar to $65.00 and gave the stock a “buy” rating in a research report on Friday. Zacks Investment Research lowered shares of First Solar from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Vetr upgraded shares of First Solar from a “sell” rating to a “buy” rating and set a $64.01 target price on the stock in a research report on Tuesday, October 31st. Finally, ValuEngine lowered shares of First Solar from a “strong-buy” rating to a “buy” rating in a research report on Friday.

A number of hedge funds have recently made changes to their positions in FSLR. Teachers Retirement System of The State of Kentucky grew its holdings in First Solar by 21.2% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 13,700 shares of the solar cell manufacturer’s stock worth $371,000 after acquiring an additional 2,400 shares in the last quarter. LS Investment Advisors LLC boosted its holdings in shares of First Solar by 14.4% in the 2nd quarter. LS Investment Advisors LLC now owns 6,036 shares of the solar cell manufacturer’s stock valued at $241,000 after buying an additional 761 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of First Solar by 3.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the solar cell manufacturer’s stock valued at $814,000 after buying an additional 700 shares during the period. Aperio Group LLC boosted its holdings in shares of First Solar by 22.7% in the 2nd quarter. Aperio Group LLC now owns 101,620 shares of the solar cell manufacturer’s stock valued at $4,053,000 after buying an additional 18,824 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of First Solar by 25.7% in the 2nd quarter. US Bancorp DE now owns 31,753 shares of the solar cell manufacturer’s stock valued at $1,266,000 after buying an additional 6,497 shares during the period. 51.17% of the stock is owned by institutional investors.

First Solar (NASDAQ FSLR) traded down $1.80 during mid-day trading on Thursday, hitting $60.30. 1,777,478 shares of the stock traded hands, compared to its average volume of 1,649,532. The firm has a market capitalization of $6,297.31, a price-to-earnings ratio of 14.78 and a beta of 2.03. First Solar has a twelve month low of $25.56 and a twelve month high of $63.10. The company has a quick ratio of 6.47, a current ratio of 6.85 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 EPS for the quarter, beating the consensus estimate of $0.84 by $1.11. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $859.22 million. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The company’s quarterly revenue was up 59.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.22 earnings per share. sell-side analysts expect that First Solar will post 2.47 EPS for the current year.

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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 a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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