Robert W. Baird Has Lowered Expectations for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its target price decreased by stock analysts at Robert W. Baird from $307.00 to $267.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the solar cell manufacturer’s stock. Robert W. Baird’s target price indicates a potential upside of 41.82% from the company’s current price.

Several other equities analysts also recently commented on the stock. The Goldman Sachs Group lowered their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Piper Sandler raised their price target on First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Hsbc Global Res raised First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Mizuho dropped their price target on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Bank of America reduced their price objective on First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, First Solar has a consensus rating of “Moderate Buy” and an average price target of $279.04.

First Solar Trading Down 1.2 %

NASDAQ FSLR opened at $188.27 on Wednesday. The company has a market capitalization of $20.16 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 0.35 and a beta of 1.46. First Solar has a 1-year low of $135.88 and a 1-year high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm’s fifty day simple moving average is $198.01 and its 200-day simple moving average is $221.87.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). The firm had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.50 earnings per share. As a group, sell-side analysts anticipate that First Solar will post 13.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Solar

A number of large investors have recently modified their holdings of FSLR. Electron Capital Partners LLC grew its position in shares of First Solar by 81,947.0% during the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after buying an additional 7,660,409 shares during the period. State Street Corp grew its holdings in 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 worth $1,236,383,000 after acquiring an additional 108,984 shares during the period. Geode Capital Management LLC raised its position in shares of First Solar by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock valued at $647,440,000 after acquiring an additional 24,143 shares during the last quarter. Wellington Management Group LLP raised its position 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 valued at $523,166,000 after acquiring an additional 904,498 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of First Solar by 0.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock valued at $434,977,000 after purchasing an additional 15,890 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.