First Solar (NASDAQ:FSLR)‘s stock had its “neutral” rating reaffirmed by research analysts at Bank of America in a research report issued on Thursday, MarketBeat Ratings reports. They currently have a $70.00 price objective on the solar cell manufacturer’s stock. Bank of America’s target price points to a potential upside of 3.11% from the stock’s current price.

Several other research firms also recently weighed in on FSLR. Zacks Investment Research downgraded shares of First Solar from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 13th. Deutsche Bank upgraded shares of First Solar from a “hold” rating to a “buy” rating and increased their price target for the stock from $50.00 to $65.00 in a research report on Friday, September 15th. Robert W. Baird reiterated a “hold” rating and issued a $50.00 price target on shares of First Solar in a research report on Friday, September 1st. Vetr downgraded shares of First Solar from a “strong-buy” rating to a “buy” rating and set a $51.52 price target on the stock. in a research report on Wednesday, October 18th. Finally, JMP Securities set a $67.00 price target on shares of First Solar and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. First Solar has a consensus rating of “Buy” and a consensus target price of $61.47.

First Solar (FSLR) traded down $0.59 on Thursday, reaching $67.89. 1,512,113 shares of the company’s stock traded hands, compared to its average volume of 2,786,629. The company has a quick ratio of 6.47, a current ratio of 6.85 and a debt-to-equity ratio of 0.06. First Solar has a fifty-two week low of $25.56 and a fifty-two week high of $71.80. The company has a market capitalization of $7,196.48, a P/E ratio of 16.89 and a beta of 2.03.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $1.11. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $859.22 million. During the same period last year, the firm earned $1.22 earnings per share. The company’s quarterly revenue was up 59.5% on a year-over-year basis. research analysts expect that First Solar will post 2.46 earnings per share for the current year.

In other news, CEO Mark R. Widmar sold 20,270 shares of the firm’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $64.40, for a total transaction of $1,305,388.00. Following the sale, the chief executive officer now directly owns 100,754 shares in the company, valued at approximately $6,488,557.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Public Employees Retirement Association of Colorado grew its stake in First Solar by 1.1% during 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 acquiring an additional 165 shares in the last quarter. Intellectus Partners LLC grew its stake in First Solar by 1.2% during the second quarter. Intellectus Partners LLC now owns 17,450 shares of the solar cell manufacturer’s stock valued at $696,000 after acquiring an additional 200 shares in the last quarter. Alliancebernstein L.P. grew its stake in First Solar by 0.8% during the second quarter. Alliancebernstein L.P. now owns 47,767 shares of the solar cell manufacturer’s stock valued at $1,905,000 after acquiring an additional 360 shares in the last quarter. Pacer Advisors Inc. grew its stake in First Solar by 4.9% during the second quarter. Pacer Advisors Inc. now owns 10,117 shares of the solar cell manufacturer’s stock valued at $403,000 after acquiring an additional 470 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in First Solar by 1.5% during the second quarter. Arizona State Retirement System now owns 33,000 shares of the solar cell manufacturer’s stock valued at $1,316,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 51.21% of the company’s stock.

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About First Solar

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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