First Solar, Inc. (NASDAQ:FSLR) Given Average Recommendation of “Buy” by Analysts

Shares of First Solar, Inc. (NASDAQ:FSLR) have been given a consensus rating of “Buy” by the twenty-seven brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, twenty-four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $276.38.

FSLR has been the topic of several recent analyst reports. Robert W. Baird cut their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. The Goldman Sachs Group cut their price objective on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Royal Bank of Canada cut their price objective on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $218.00 to $259.00 in a research report on Tuesday. Finally, Morgan Stanley dropped their price target on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th.

Institutional Investors Weigh In On First Solar

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Western Financial Corp CA bought a new stake in First Solar during the 3rd quarter worth approximately $1,209,000. Whalen Wealth Management Inc. raised its stake in First Solar by 47.0% during the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock worth $856,000 after acquiring an additional 1,554 shares during the period. Stifel Financial Corp raised its stake in First Solar by 36.9% during the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock worth $5,350,000 after acquiring an additional 5,780 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in First Solar by 9.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock worth $104,910,000 after acquiring an additional 49,074 shares during the period. Finally, Paragon Capital Management Inc. bought a new stake in First Solar during the 4th quarter worth approximately $1,240,000. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of FSLR stock opened at $160.34 on Friday. First Solar has a one year low of $141.70 and a one year high of $306.77. The company’s 50-day moving average is $180.71 and its 200 day moving average is $202.62. The company has a market capitalization of $17.17 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth 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.

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.