Roth Capital set a $80.00 target price on First Solar (NASDAQ:FSLR) in a report published on Monday morning. The brokerage currently has a buy rating on the solar cell manufacturer’s stock.

Several other research firms have also commented on FSLR. Zacks Investment Research lowered First Solar from a strong-buy rating to a hold rating in a research report on Friday, October 13th. Deutsche Bank upgraded First Solar from a hold rating to a buy rating and upped their target price for the stock from $50.00 to $65.00 in a research note on Friday, September 15th. Robert W. Baird restated a hold rating and issued a $50.00 target price on shares of First Solar in a research note on Friday, September 1st. Vetr downgraded First Solar from a strong-buy rating to a buy rating and set a $51.52 target price on the stock. in a research note on Wednesday, October 18th. Finally, JMP Securities set a $67.00 target price on First Solar and gave the stock a buy rating in a research note on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. First Solar presently has an average rating of Buy and an average target price of $60.13.

First Solar (NASDAQ:FSLR) traded up $0.03 on Monday, hitting $70.05. The stock had a trading volume of 3,810,400 shares, compared to its average volume of 2,796,978. The company has a market cap of $7,312.40, a price-to-earnings ratio of 17.16 and a beta of 2.03. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06. First Solar has a 52-week low of $25.56 and a 52-week high of $71.80.

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, topping the Thomson Reuters’ consensus estimate of $0.84 by $1.11. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The business’s revenue for the quarter was up 59.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 EPS. research analysts forecast that First Solar will post 2.47 earnings per share for the current fiscal year.

In related news, CEO Mark R. Widmar sold 20,270 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $64.40, for a total value of $1,305,388.00. Following the completion of the transaction, the chief executive officer now directly owns 100,754 shares in the company, valued at $6,488,557.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of FSLR. Suffolk Capital Management LLC purchased a new position in shares of First Solar during the third quarter worth $1,576,000. Scott & Selber Inc. purchased a new position in First Solar in the third quarter valued at $1,472,000. Commerzbank Aktiengesellschaft FI raised its stake in First Solar by 72.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 190,386 shares of the solar cell manufacturer’s stock valued at $7,593,000 after buying an additional 79,987 shares in the last quarter. American International Group Inc. raised its stake in First Solar by 4.1% in the third quarter. American International Group Inc. now owns 166,620 shares of the solar cell manufacturer’s stock valued at $7,645,000 after buying an additional 6,610 shares in the last quarter. Finally, Gotham Asset Management LLC acquired a new stake in First Solar in the second quarter valued at $14,135,000. Institutional investors own 51.21% of the company’s stock.

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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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