Shares of First Solar, Inc. (NASDAQ:FSLR – Get Free Report) have received an average recommendation of “Moderate Buy” from the twenty-seven brokerages that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, twenty-three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $279.04.
A number of brokerages recently weighed in on FSLR. Citigroup raised shares of First Solar from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Truist Financial assumed coverage on First Solar in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 price objective on the stock. Susquehanna decreased their target price on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Hsbc Global Res raised First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Roth Mkm reduced their price objective on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th.
Get Our Latest Analysis on FSLR
First Solar Trading Up 2.2 %
First Solar (NASDAQ:FSLR – Get Free Report) last announced its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). The company had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.50 earnings per share. On average, analysts expect that First Solar will post 13.15 EPS for the current year.
Institutional Investors Weigh In On First Solar
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Oddo BHF Asset Management Sas bought a new stake in shares of First Solar in the 3rd quarter worth $18,406,000. Franklin Resources Inc. grew its position in First Solar by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 131,634 shares of the solar cell manufacturer’s stock worth $32,835,000 after purchasing an additional 12,439 shares in the last quarter. Peapack Gladstone Financial Corp lifted its position in shares of First Solar by 33.3% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 24,553 shares of the solar cell manufacturer’s stock worth $6,125,000 after buying an additional 6,135 shares in the last quarter. Blankinship & Foster LLC purchased a new position in shares of First Solar in the 3rd quarter worth approximately $935,000. Finally, Morse Asset Management Inc grew its holdings in shares of First Solar by 10.7% in the third quarter. Morse Asset Management Inc now owns 12,449 shares of the solar cell manufacturer’s stock valued at $3,105,000 after acquiring an additional 1,199 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.
First Solar Company Profile
First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.
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