First Solar’s (FSLR) “Outperform” Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reiterated their outperform rating on shares of First Solar (NASDAQ:FSLR) in a research report released on Wednesday morning,Benzinga reports. The firm currently has a $230.00 target price on the solar cell manufacturer’s stock, down from their previous target price of $260.00.

Several other equities analysts have also weighed in on FSLR. Susquehanna reduced their price objective on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. Truist Financial reiterated a “buy” rating and set a $285.00 price target (down previously from $300.00) on shares of First Solar in a research note on Wednesday. Citigroup lowered their price objective on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research note on Wednesday. Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Three investment 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $268.00.

First Solar Trading Up 6.4 %

NASDAQ FSLR opened at $156.84 on Wednesday. The stock has a market capitalization of $16.79 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.19 and a beta of 1.47. The business’s fifty day moving average is $174.00 and its 200-day moving average is $199.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar has a one year low of $144.28 and a one year high of $306.77.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Equities research analysts predict that First Solar will post 13.05 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in First Solar by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock valued at $2,259,697,000 after purchasing an additional 120,289 shares during the last quarter. State Street Corp raised its position in shares of First Solar by 2.2% during the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after buying an additional 108,984 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of First Solar by 2.4% during 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 acquiring an additional 63,739 shares during the last quarter. Wellington Management Group LLP grew its position in First Solar by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock worth $415,899,000 after acquiring an additional 262,482 shares in the last quarter. Finally, Invesco Ltd. increased its stake in First Solar by 13.9% in the fourth quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer’s stock valued at $323,410,000 after acquiring an additional 223,933 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

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.