Goldman Sachs Group upgraded shares of First Solar (NASDAQ:FSLR) from a sell rating to a neutral rating in a report published on Monday morning, MarketBeat Ratings reports. Goldman Sachs Group currently has $46.00 price target on the solar cell manufacturer’s stock, up from their prior price target of $39.00.

Other research analysts have also issued reports about the company. BidaskClub raised First Solar from a sell rating to a hold rating in a report on Saturday, August 11th. Vertical Group upgraded First Solar from a sell rating to a hold rating in a research report on Thursday, October 25th. JMP Securities upgraded First Solar from an underperform rating to a market perform rating in a research report on Friday, October 26th. They noted that the move was a valuation call. Roth Capital set a $65.00 price target on First Solar and gave the company a buy rating in a report on Friday, October 26th. Finally, ValuEngine upgraded First Solar from a sell rating to a hold rating in a report on Thursday, November 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. First Solar presently has a consensus rating of Hold and an average price target of $67.47.

Shares of FSLR opened at $43.71 on Monday. The firm has a market cap of $4.66 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.83 and a beta of 1.32. The company has a current ratio of 4.48, a quick ratio of 4.14 and a debt-to-equity ratio of 0.09. First Solar has a one year low of $36.51 and a one year high of $81.72.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, October 25th. The solar cell manufacturer reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.09. The firm had revenue of $676.22 million for the quarter, compared to analyst estimates of $683.93 million. First Solar had a positive return on equity of 1.29% and a negative net margin of 17.98%. Sell-side analysts anticipate that First Solar will post 1.51 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vident Investment Advisory LLC increased its position in First Solar by 2.2% in the 2nd quarter. Vident Investment Advisory LLC now owns 53,443 shares of the solar cell manufacturer’s stock worth $2,814,000 after buying an additional 1,162 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of First Solar by 1.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 92,600 shares of the solar cell manufacturer’s stock worth $4,484,000 after purchasing an additional 1,200 shares in the last quarter. Investec Asset Management LTD grew its holdings in shares of First Solar by 10.4% during the 2nd quarter. Investec Asset Management LTD now owns 13,269 shares of the solar cell manufacturer’s stock worth $699,000 after purchasing an additional 1,249 shares in the last quarter. Malaga Cove Capital LLC grew its holdings in shares of First Solar by 6.8% during the 3rd quarter. Malaga Cove Capital LLC now owns 21,450 shares of the solar cell manufacturer’s stock worth $1,056,000 after purchasing an additional 1,359 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of First Solar by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 121,473 shares of the solar cell manufacturer’s stock worth $6,397,000 after purchasing an additional 1,443 shares in the last quarter. 52.17% of the stock is currently owned by institutional investors.

First Solar Company Profile

First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators.

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Analyst Recommendations for First Solar (NASDAQ:FSLR)

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