First Solar, Inc. (NASDAQ:FSLR) Receives $276.29 Average PT from Brokerages

Shares of First Solar, Inc. (NASDAQ:FSLR) have been given a consensus rating of “Buy” by the twenty-seven analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, twenty-four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $276.38.

Several research firms have recently issued reports on FSLR. Piper Sandler boosted their price target on shares of First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Bank of America lowered their price target on shares of First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company lowered their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $218.00 to $259.00 in a research report on Tuesday. Finally, Guggenheim reissued a “buy” rating and issued a $335.00 price target on shares of First Solar in a research report on Wednesday, January 22nd.

Institutional Investors Weigh In On First Solar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in First Solar by 0.9% during 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 buying an additional 120,289 shares during the last quarter. State Street Corp raised its holdings in First Solar by 2.2% in the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after purchasing an additional 108,984 shares in the last quarter. Geode Capital Management LLC raised its holdings in First Solar by 2.4% in 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 purchasing an additional 63,739 shares in the last quarter. Wellington Management Group LLP raised its holdings in First Solar by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock worth $415,899,000 after purchasing an additional 262,482 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in First Solar by 13.9% in the 4th quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer’s stock worth $323,410,000 after purchasing an additional 223,933 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Performance

Shares of FSLR stock opened at $160.34 on Friday. The firm’s 50-day simple moving average is $180.71 and its two-hundred day simple moving average is $202.62. First Solar has a 52 week low of $141.70 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 cap of $17.17 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 0.19 and a beta of 1.47.

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.