Roth Capital set a $70.00 target price on First Solar (NASDAQ:FSLR) in a report issued on Friday morning. The brokerage currently has a buy rating on the solar cell manufacturer’s stock.

Several other equities research analysts have also recently weighed in on the stock. Axiom Securities reaffirmed a buy rating on shares of First Solar in a research report on Wednesday, August 30th. Bank of America reaffirmed a buy rating and issued a $64.00 price target on shares of First Solar in a research report on Tuesday, August 29th. Vetr upgraded shares of First Solar from a buy rating to a strong-buy rating and set a $54.35 price objective for the company in a research note on Wednesday, October 25th. Deutsche Bank upgraded shares of First Solar from a hold rating to a buy rating and boosted their price objective for the stock from $50.00 to $65.00 in a research note on Friday, September 15th. Finally, Zacks Investment Research lowered shares of First Solar from a strong-buy rating to a hold rating in a research note on Friday, October 13th. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $53.91.

Shares of First Solar (FSLR) opened at $57.27 on Friday. First Solar has a 52-week low of $25.56 and a 52-week high of $63.10. The firm has a market cap of $6,297.31, a P/E ratio of 14.78 and a beta of 2.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, topping the consensus estimate of $0.84 by $1.11. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $859.22 million. During the same quarter in the prior year, the company earned $1.22 EPS. The company’s revenue was up 59.5% compared to the same quarter last year. research analysts expect that First Solar will post 2.47 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Daiwa Securities Group Inc. increased its stake in First Solar by 0.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 24,125 shares of the solar cell manufacturer’s stock valued at $962,000 after purchasing an additional 125 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in First Solar by 1.1% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 15,100 shares of the solar cell manufacturer’s stock valued at $602,000 after purchasing an additional 165 shares in the last quarter. Intellectus Partners LLC increased its stake in First Solar by 1.2% during the 2nd quarter. Intellectus Partners LLC now owns 17,450 shares of the solar cell manufacturer’s stock valued at $696,000 after purchasing an additional 200 shares in the last quarter. Alliancebernstein L.P. increased its stake in First Solar by 0.8% during the 2nd quarter. Alliancebernstein L.P. now owns 47,767 shares of the solar cell manufacturer’s stock valued at $1,905,000 after purchasing an additional 360 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in First Solar by 4.9% during the 2nd quarter. Pacer Advisors Inc. now owns 10,117 shares of the solar cell manufacturer’s stock valued at $403,000 after purchasing an additional 470 shares in the last quarter. Institutional investors and hedge funds own 51.21% of the company’s stock.

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About First Solar

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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