Robert W. Baird Reaffirms Hold Rating for First Solar, Inc. (FSLR)

First Solar, Inc. (NASDAQ:FSLR)‘s stock had its “hold” rating reiterated by research analysts at Robert W. Baird in a research note issued to investors on Friday, October 27th. They currently have a $53.00 price target on the solar cell manufacturer’s stock. Robert W. Baird’s price objective would suggest a potential downside of 13.95% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Axiom Securities reissued a “buy” rating on shares of First Solar in a report on Wednesday, August 30th. Bank of America Corporation reissued a “buy” rating and set a $64.00 price target on shares of First Solar in a report on Tuesday, August 29th. Vetr raised First Solar from a “buy” rating to a “strong-buy” rating and set a $54.35 price target on the stock in a report on Wednesday, October 25th. Zacks Investment Research cut First Solar from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, Deutsche Bank AG raised First Solar from a “hold” rating to a “buy” rating and raised their price target for the company from $50.00 to $65.00 in a report on Friday, September 15th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $47.61.



First Solar (NASDAQ:FSLR) opened at $61.59 on Friday. The firm has a market capitalization of $6,432.03, a price-to-earnings ratio of 15.10 and a beta of 1.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. First Solar has a twelve month low of $25.56 and a twelve month high of $62.57.

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

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Several institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of First Solar by 7,977.6% in the first quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock worth $187,601,000 after acquiring an additional 6,836,843 shares during the period. Vanguard Group Inc. raised its position in shares of First Solar by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,545,727 shares of the solar cell manufacturer’s stock worth $261,043,000 after purchasing an additional 243,787 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of First Solar by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,756,980 shares of the solar cell manufacturer’s stock worth $74,715,000 after purchasing an additional 158,896 shares during the last quarter. Schroder Investment Management Group raised its position in shares of First Solar by 12,600.7% during the 2nd quarter. Schroder Investment Management Group now owns 1,679,286 shares of the solar cell manufacturer’s stock worth $67,306,000 after purchasing an additional 1,666,064 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of First Solar by 6.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,456,546 shares of the solar cell manufacturer’s stock worth $66,825,000 after purchasing an additional 82,634 shares during the last quarter. Institutional investors and hedge funds own 53.55% of the company’s stock.

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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