First Solar (NASDAQ:FSLR) Given New $285.00 Price Target at UBS Group

First Solar (NASDAQ:FSLR) had its price objective cut by UBS Group from $360.00 to $285.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the solar cell manufacturer’s stock.

A number of other brokerages also recently weighed in on FSLR. Morgan Stanley decreased their price objective on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Roth Mkm reaffirmed a “buy” rating and issued a $280.00 price target on shares of First Solar in a report on Wednesday. Susquehanna lowered their price target on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. Royal Bank of Canada cut their price objective on First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Robert W. Baird decreased their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $268.00.

First Solar Stock Up 6.4 %

First Solar stock opened at $156.84 on Wednesday. First Solar has a 52 week low of $144.28 and a 52 week high of $306.77. The firm has a market cap of $16.79 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. The business’s 50-day moving average price is $174.00 and its 200 day moving average price is $199.08. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, sell-side analysts anticipate that First Solar will post 13.05 earnings per share for the current year.

Institutional Trading of First Solar

Institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in First Solar during the fourth quarter worth $317,399,000. Wellington Management Group LLP grew its holdings in shares of First Solar by 75.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after purchasing an additional 904,498 shares during the period. Demars Financial Group LLC increased its position in shares of First Solar by 17,404.5% during the 4th quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer’s stock worth $127,379,000 after purchasing an additional 718,631 shares during the last quarter. Mirova US LLC increased its position in shares of First Solar by 961.0% during the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock worth $113,906,000 after purchasing an additional 585,394 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in First Solar by 1,757.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after buying an additional 516,783 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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.