Needham & Company LLC Issues Positive Forecast for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its price target raised by equities research analysts at Needham & Company LLC from $286.00 to $303.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage currently has a “buy” rating on the solar cell manufacturer’s stock. Needham & Company LLC’s price objective suggests a potential upside of 26.04% from the stock’s previous close.

Several other equities analysts have also recently weighed in on FSLR. Wells Fargo & Company raised their price target on shares of First Solar from $270.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Morgan Stanley set a $275.00 target price on First Solar in a report on Friday, October 31st. Guggenheim lifted their target price on First Solar from $289.00 to $312.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Seaport Research Partners increased their price target on First Solar from $217.00 to $305.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Jefferies Financial Group cut First Solar from a “buy” rating to a “hold” rating and dropped their price objective for the company from $269.00 to $260.00 in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $276.24.

First Solar Stock Performance

NASDAQ FSLR opened at $240.40 on Monday. The company has a market cap of $25.80 billion, a P/E ratio of 18.63, a PEG ratio of 0.31 and a beta of 1.60. The company has a fifty day simple moving average of $246.03 and a 200 day simple moving average of $235.50. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. First Solar has a 12-month low of $116.56 and a 12-month high of $285.99.

Hedge Funds Weigh In On First Solar

Several hedge funds and other institutional investors have recently modified their holdings of FSLR. Capstone Wealth Management Inc. purchased a new stake in shares of First Solar during the fourth quarter valued at approximately $212,000. Compound Planning Inc. lifted its stake in First Solar by 20.3% in the fourth quarter. Compound Planning Inc. now owns 1,190 shares of the solar cell manufacturer’s stock valued at $311,000 after buying an additional 201 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of First Solar by 28.2% during the fourth quarter. Corient Private Wealth LLC now owns 18,609 shares of the solar cell manufacturer’s stock worth $4,861,000 after acquiring an additional 4,096 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of First Solar by 17.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 25,522 shares of the solar cell manufacturer’s stock worth $6,667,000 after buying an additional 3,866 shares during the period. Finally, Caitlin John LLC acquired a new position in First Solar during the 4th quarter valued at about $785,000. 92.08% of the stock is owned by institutional investors and hedge funds.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.