First Solar (NASDAQ:FSLR) Price Target Lowered to $275.00 at Barclays

First Solar (NASDAQ:FSLR) had its price target lowered by Barclays from $290.00 to $275.00 in a research report report published on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the solar cell manufacturer’s stock.

Several other brokerages have also recently issued reports on FSLR. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday. Evercore ISI reduced their target price on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. UBS Group boosted their price target on shares of First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Seaport Res Ptn upgraded First Solar to a “hold” rating in a research note on Tuesday, November 5th. Finally, Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $254.00 in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.50.

First Solar Trading Up 0.3 %

Shares of FSLR stock traded up $0.55 during trading hours on Wednesday, hitting $182.68. The company had a trading volume of 128,343 shares, compared to its average volume of 2,504,401. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The stock has a market capitalization of $19.56 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 0.32 and a beta of 1.48. The company’s fifty day moving average is $217.04 and its 200 day moving average is $225.37. First Solar has a fifty-two week low of $135.88 and a fifty-two week high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company earned $2.50 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Research analysts expect that First Solar will post 13.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Solar

Hedge funds and other institutional investors have recently made changes to their positions in the business. Public Sector Pension Investment Board boosted its stake in First Solar by 12.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 5,371 shares of the solar cell manufacturer’s stock worth $1,340,000 after buying an additional 600 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of First Solar by 7.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,330,675 shares of the solar cell manufacturer’s stock worth $331,924,000 after acquiring an additional 90,249 shares during the period. Fiduciary Trust Co boosted its position in shares of First Solar by 41.7% in the third quarter. Fiduciary Trust Co now owns 7,511 shares of the solar cell manufacturer’s stock worth $1,874,000 after acquiring an additional 2,210 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in First Solar by 4.1% in the third quarter. Glenmede Trust Co. NA now owns 2,328 shares of the solar cell manufacturer’s stock valued at $581,000 after purchasing an additional 91 shares during the period. Finally, Bridgewater Associates LP increased its position in First Solar by 5,397.2% during the third quarter. Bridgewater Associates LP now owns 89,989 shares of the solar cell manufacturer’s stock worth $22,447,000 after purchasing an additional 88,352 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

About First Solar

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.