First Solar (NASDAQ:FSLR) Price Target Lowered to $236.00 at Bank of America

First Solar (NASDAQ:FSLR) had its price target cut by equities research analysts at Bank of America from $246.00 to $236.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the solar cell manufacturer’s stock. Bank of America‘s price objective suggests a potential upside of 48.94% from the stock’s previous close.

Several other equities analysts have also recently weighed in on FSLR. Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. BMO Capital Markets reiterated an “outperform” rating and set a $260.00 target price (down from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Susquehanna lowered their price objective on shares of First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group decreased their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group dropped their price objective on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $276.29.

First Solar Trading Down 3.6 %

FSLR traded down $5.85 during midday trading on Tuesday, hitting $158.46. 1,186,535 shares of the company were exchanged, compared to its average volume of 2,233,665. The firm’s 50 day moving average price is $188.49 and its 200-day moving average price is $207.43. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar has a 1-year low of $135.88 and a 1-year high of $306.77. The firm has a market capitalization of $16.96 billion, a P/E ratio of 13.66, a P/E/G ratio of 0.20 and a beta of 1.49.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). The business had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $2.50 earnings per share. As a group, equities analysts forecast that First Solar will post 13.07 EPS for the current fiscal year.

Institutional Trading of First Solar

A number of large investors have recently modified their holdings of FSLR. Wellington Management Group LLP raised its stake in First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after purchasing an additional 904,498 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of First Solar by 1,757.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after buying an additional 516,783 shares in the last quarter. Merewether Investment Management LP lifted its holdings in shares of First Solar by 993.4% during the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock worth $80,553,000 after acquiring an additional 293,400 shares during the last quarter. Erste Asset Management GmbH purchased a new position in First Solar in the third quarter worth $67,652,000. Finally, International Assets Investment Management LLC increased its stake in First Solar by 24,844.0% in the third quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock valued at $542,560,000 after acquiring an additional 216,640 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

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.