First Solar (FSLR) PT Set at $70.00 by Roth Capital

First Solar, Inc. (FSLR) Shares Sold by Schroder Investment Management Group

First Solar produces first S6 module, seals 800 MW of deals

The institutional investor owned 511,018 shares of the solar cell manufacturer's stock after selling 1,168,268 shares during the period. 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. Goldman Sachs Group reiterated a neutral rating and set a $65.00 price target (up previously from $50.00) on shares of First Solar in a report on Thursday, November 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. First Solar has a consensus rating of Buy and an average price target of $53.91.

Roth Capital set a $70.00 target price on First Solar (NASDAQ:FSLR) in a report issued on Friday morning. First Solar has a twelve month low of $25.56 and a twelve month high of $63.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47. The stock has a market capitalization of $6,297.31, a PE ratio of 14.78 and a beta of 2.03.

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First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.84 by $1.11.

First Solar is expecting a net cash balance of $1.6-$1.8 billion by the end of 2018. 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 previous year, the company posted $1.22 earnings per share.

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First Solar is expecting fiscal 2017 sales in the $2.3-2.25 billion range against analyst estimates of $2.38 billion.

Want to see what other hedge funds are holding FSLR? Schroder Investment Management Group boosted its stake in shares of First Solar by 12,600.7% 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. Key Square Capital Management LLC bought a new stake in shares of First Solar during the 3rd quarter worth about $23,621,000. Ecofin Ltd. purchased a new position in First Solar during the second quarter valued at approximately $19,485,000. Alliancebernstein L.P. increased its stake in First Solar by 0.8% during the 2nd quarter. Finally, Pacer Advisors Inc. increased its stake in First Solar by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,545,727 shares of the solar cell manufacturer's stock valued at $261,043,000 after purchasing an additional 243,787 shares in the last quarter.

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