Roth Capital set a $60.00 price target on First Solar, Inc. (NASDAQ:FSLR) in a research report released on Monday. The brokerage currently has a buy rating on the solar cell manufacturer’s stock.

Several other brokerages also recently issued reports on FSLR. Zacks Investment Research downgraded First Solar from a strong-buy rating to a hold rating in a research note on Friday, October 13th. Cowen and Company set a $40.00 target price on First Solar and gave the company a buy rating in a research note on Monday, July 10th. Axiom Securities reissued a buy rating on shares of First Solar in a research note on Thursday, August 10th. Deutsche Bank AG raised First Solar from a hold rating to a buy rating and lifted their target price for the company from $50.00 to $65.00 in a research note on Friday, September 15th. Finally, Robert W. Baird reissued a hold rating and set a $50.00 target price on shares of First Solar in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the company. First Solar currently has a consensus rating of Hold and an average target price of $47.63.

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, topping the 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 firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $859.22 million. During the same quarter last year, the company earned $1.22 earnings per share. The business’s revenue for the quarter was up 59.5% compared to the same quarter last year.

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In related news, CFO Alexander R. Bradley sold 566 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $48.66, for a total transaction of $27,541.56. Following the transaction, the chief financial officer now directly owns 963 shares in the company, valued at approximately $46,859.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.58% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. grew its stake in First Solar by 57.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,600 shares of the solar cell manufacturer’s stock worth $104,000 after buying an additional 950 shares during the last quarter. Fiduciary Trust Co. purchased a new stake in First Solar during the 2nd quarter valued at about $128,000. NEXT Financial Group Inc grew its stake in First Solar by 23.9% during the 2nd quarter. NEXT Financial Group Inc now owns 5,050 shares of the solar cell manufacturer’s stock valued at $201,000 after purchasing an additional 975 shares during the last quarter. Parsec Financial Management Inc. purchased a new stake in First Solar during the 2nd quarter valued at about $204,000. Finally, Garner Asset Management Corp purchased a new stake in First Solar during the 2nd quarter valued at about $208,000. Hedge funds and other institutional investors own 53.10% 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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