First Solar, Inc. (NASDAQ:FSLR) Receives Consensus Recommendation of “Buy” from Brokerages

First Solar, Inc. (NASDAQ:FSLR) has earned a consensus rating of “Buy” from the twenty-seven ratings firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $277.75.

FSLR has been the subject of a number of recent analyst reports. Truist Financial assumed coverage on First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 target price for the company. Roth Mkm dropped their price objective on shares of First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and upped their price target for the stock from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Bank of America reduced their price objective on shares of First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada lowered their price target on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th.

Hedge Funds Weigh In On First Solar

Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its holdings in First Solar by 0.5% during the 2nd quarter. Victory Capital Management Inc. now owns 43,606 shares of the solar cell manufacturer’s stock valued at $9,831,000 after buying an additional 219 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of First Solar in the second quarter valued at $834,000. Acadian Asset Management LLC bought a new stake in First Solar in the second quarter worth $794,000. Quest Partners LLC raised its stake in First Solar by 8,375.0% during the second quarter. Quest Partners LLC now owns 678 shares of the solar cell manufacturer’s stock valued at $153,000 after purchasing an additional 670 shares in the last quarter. Finally, Choreo LLC bought a new position in First Solar during the second quarter valued at $282,000. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Up 1.0 %

Shares of NASDAQ:FSLR opened at $192.88 on Monday. The firm has a fifty day moving average of $190.18 and a 200 day moving average of $209.63. First Solar has a 52-week low of $135.88 and a 52-week high of $306.77. 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 market capitalization of $20.65 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 0.21 and a beta of 1.49.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data 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 analysts’ expectations of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.50 EPS. As a group, research analysts anticipate that First Solar will post 13.09 EPS for the current fiscal year.

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.