First Solar (NASDAQ:FSLR) had its price target increased by analysts at Deutsche Bank to $75.00 in a report released on Wednesday. The brokerage currently has a “buy” rating on the solar cell manufacturer’s stock. Deutsche Bank’s target price suggests a potential upside of 22.53% from the stock’s previous close.

FSLR has been the subject of a number of other reports. Cowen reiterated a “buy” rating and set a $57.00 price objective on shares of First Solar in a report on Sunday, September 3rd. Roth Capital reiterated a “buy” rating and set a $60.00 price objective on shares of First Solar in a report on Tuesday, September 26th. Robert W. Baird reiterated a “hold” rating and set a $53.00 price objective on shares of First Solar in a report on Friday, October 27th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price objective on shares of First Solar in a report on Friday, December 1st. Finally, JMP Securities reiterated an “outperform” rating and set a $50.00 price objective (down from $67.00) on shares of First Solar in a report on Tuesday, September 26th. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. First Solar currently has an average rating of “Buy” and a consensus target price of $55.79.

First Solar (NASDAQ:FSLR) traded up $3.94 during trading hours on Wednesday, hitting $61.21. The company had a trading volume of 5,429,100 shares, compared to its average volume of 2,772,069. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. The company has a market capitalization of $5,980.88, a P/E ratio of 14.04 and a beta of 2.03. First Solar has a fifty-two week low of $25.56 and a fifty-two week high of $63.10.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $1.11. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. First Solar’s quarterly revenue was up 59.5% on a year-over-year basis. During the same period last year, the company earned $1.22 earnings per share. research analysts anticipate that First Solar will post 2.47 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSLR. Public Employees Retirement Association of Colorado lifted its position in shares of First Solar by 1.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 15,100 shares of the solar cell manufacturer’s stock valued at $602,000 after buying an additional 165 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of First Solar by 330.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 30,190 shares of the solar cell manufacturer’s stock valued at $1,204,000 after buying an additional 23,180 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of First Solar by 38.3% in the second quarter. Janney Montgomery Scott LLC now owns 13,553 shares of the solar cell manufacturer’s stock valued at $540,000 after buying an additional 3,753 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of First Solar by 0.5% in the second quarter. Daiwa Securities Group Inc. now owns 24,125 shares of the solar cell manufacturer’s stock valued at $962,000 after buying an additional 125 shares during the last quarter. Finally, World Asset Management Inc acquired a new stake in shares of First Solar in the second quarter valued at approximately $221,000. 51.21% of the stock is owned by institutional investors.

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First Solar Company Profile

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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