First Solar (NASDAQ:FSLR) Raised to “Outperform” at Mizuho

First Solar (NASDAQ:FSLR) was upgraded by equities researchers at Mizuho from a “neutral” rating to an “outperform” rating in a research note issued to investors on Tuesday, MarketBeat reports. The firm currently has a $259.00 price objective on the solar cell manufacturer’s stock, up from their prior price objective of $218.00. Mizuho’s price objective points to a potential upside of 63.29% from the company’s current price.

FSLR has been the subject of a number of other research reports. Wells Fargo & Company decreased their target price on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Tuesday, October 29th. Guggenheim restated a “buy” rating and set a $335.00 target price on shares of First Solar in a research note on Wednesday, January 22nd. Bank of America decreased their price target on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Susquehanna dropped their price target on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, First Solar currently has an average rating of “Buy” and an average price target of $276.38.

First Solar Stock Performance

FSLR stock opened at $158.61 on Tuesday. First Solar has a one year low of $141.70 and a one year high of $306.77. The firm has a market cap of $16.98 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 0.19 and a beta of 1.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The firm has a 50-day simple moving average of $181.46 and a two-hundred day simple moving average of $202.92.

Institutional Investors Weigh In On First Solar

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of First Solar by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock valued at $2,259,697,000 after purchasing an additional 120,289 shares during the period. State Street Corp raised its position in shares of First Solar by 2.2% in the third quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after acquiring an additional 108,984 shares during the period. Geode Capital Management LLC boosted its stake in shares of First Solar by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer’s stock worth $469,154,000 after acquiring an additional 63,739 shares in the last quarter. Wellington Management Group LLP grew its position in shares of First Solar by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock valued at $415,899,000 after acquiring an additional 262,482 shares during the period. Finally, Amundi increased its stake in shares of First Solar by 31.0% in the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock valued at $336,871,000 after purchasing an additional 426,797 shares in the last quarter. Hedge funds and other 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.