Needham & Company LLC Increases First Solar (NASDAQ:FSLR) Price Target to $303.00

First Solar (NASDAQ:FSLR) had its price target hoisted by investment analysts at Needham & Company LLC from $286.00 to $303.00 in a report issued on Monday,MarketScreener reports. The firm presently has a “buy” rating on the solar cell manufacturer’s stock. Needham & Company LLC’s target price would indicate a potential upside of 26.04% from the company’s previous close.

Several other analysts have also weighed in on the stock. Morgan Stanley set a $275.00 target price on shares of First Solar in a research report on Friday, October 31st. UBS Group upped their price objective on First Solar from $275.00 to $330.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Barclays reaffirmed an “overweight” rating and issued a $279.00 price target on shares of First Solar in a research note on Monday, November 3rd. BMO Capital Markets set a $263.00 price objective on shares of First Solar in a report on Thursday, January 29th. Finally, Susquehanna lifted their price target on shares of First Solar from $285.00 to $292.00 and gave the stock a “positive” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $276.24.

First Solar Stock Down 0.6%

NASDAQ FSLR opened at $240.40 on Monday. The firm has a 50-day simple moving average of $246.03 and a 200 day simple moving average of $235.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.91. The stock has a market cap of $25.80 billion, a PE ratio of 18.63, a PEG ratio of 0.31 and a beta of 1.60. First Solar has a twelve month low of $116.56 and a twelve month high of $285.99.

Institutional Trading of First Solar

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Woodline Partners LP increased its stake in shares of First Solar by 40.7% during the first quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock worth $1,143,000 after purchasing an additional 2,615 shares during the period. Brookstone Capital Management bought a new position in First Solar during the second quarter worth about $219,000. Asset Management One Co. Ltd. raised its position in shares of First Solar by 0.8% in the 2nd quarter. Asset Management One Co. Ltd. now owns 49,100 shares of the solar cell manufacturer’s stock valued at $8,128,000 after buying an additional 378 shares in the last quarter. Moloney Securities Asset Management LLC acquired a new position in shares of First Solar during the second quarter worth $233,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of First Solar by 1.9% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 248,731 shares of the solar cell manufacturer’s stock valued at $41,175,000 after buying an additional 4,708 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.