Roth Capital Analysts Give First Solar (FSLR) a $80.00 Price Target

Roth Capital set a $80.00 target price on First Solar (NASDAQ:FSLR) in a research note published on Monday. The brokerage currently has a buy rating on the solar cell manufacturer’s stock.

FSLR has been the subject of several other reports. Cowen reaffirmed a buy rating and set a $57.00 price objective on shares of First Solar in a research note on Sunday, September 3rd. Robert W. Baird reaffirmed a hold rating and set a $53.00 price objective on shares of First Solar in a research note on Friday, October 27th. Needham & Company LLC reaffirmed a buy rating and set a $65.00 price objective on shares of First Solar in a research note on Friday, December 1st. JMP Securities reaffirmed an outperform rating and set a $50.00 price objective (down from $67.00) on shares of First Solar in a research note on Tuesday, September 26th. Finally, Vetr raised First Solar from a buy rating to a strong-buy rating and set a $53.04 price objective for the company in a research note on Wednesday, October 11th. Ten equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $61.07.

Shares of First Solar (NASDAQ FSLR) opened at $68.48 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. The company has a market capitalization of $7,196.48, a P/E ratio of 16.89 and a beta of 2.03. First Solar has a one year low of $25.56 and a one year high of $71.80.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, October 26th. The solar cell manufacturer reported $1.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $1.11. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The firm’s revenue was up 59.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.22 EPS. equities research analysts predict that First Solar will post 2.46 earnings per share for the current year.

In other First Solar news, CEO Mark R. Widmar sold 20,270 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $64.40, for a total transaction of $1,305,388.00. Following the transaction, the chief executive officer now owns 100,754 shares in the company, valued at approximately $6,488,557.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSLR. Fiduciary Trust Co. acquired a new position in First Solar during the 2nd quarter worth approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in First Solar by 64.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock worth $201,000 after purchasing an additional 1,716 shares during the period. Garner Asset Management Corp acquired a new position in First Solar during the 2nd quarter worth approximately $208,000. World Asset Management Inc acquired a new stake in shares of First Solar in the 2nd quarter worth approximately $221,000. Finally, Riverhead Capital Management LLC grew its holdings in shares of First Solar by 82.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock worth $226,000 after acquiring an additional 2,560 shares during the period. Institutional investors 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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