First Solar (NASDAQ:FSLR) Price Target Raised to $273.00

First Solar (NASDAQ:FSLR) had its target price lifted by Susquehanna from $222.00 to $273.00 in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The brokerage currently has a positive rating on the solar cell manufacturer’s stock.

Several other analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their target price on First Solar from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Guggenheim raised their price objective on shares of First Solar from $202.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of First Solar in a research note on Wednesday, October 8th. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a report on Friday, August 1st. Finally, Wall Street Zen upgraded shares of First Solar from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $238.72.

First Solar Price Performance

Shares of First Solar stock opened at $244.40 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $208.89 and a 200-day simple moving average of $173.50. The stock has a market capitalization of $26.21 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 0.45 and a beta of 1.38. First Solar has a 1-year low of $116.56 and a 1-year high of $248.04.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business earned $3.25 EPS. The business’s revenue was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, sell-side analysts expect that First Solar will post 13.05 earnings per share for the current year.

Insider Transactions at First Solar

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark R. Widmar sold 23,912 shares of First Solar stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total value of $4,434,958.64. Following the sale, the chief executive officer directly owned 87,978 shares in the company, valued at $16,317,279.66. The trade was a 21.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,715 shares of company stock valued at $5,733,305 over the last ninety days. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On First Solar

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harvest Portfolios Group Inc. grew its position in First Solar by 3.9% in the first quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer’s stock valued at $210,000 after acquiring an additional 63 shares during the period. Legend Financial Advisors Inc. boosted its stake in shares of First Solar by 1.4% in the 1st quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer’s stock valued at $598,000 after purchasing an additional 64 shares in the last quarter. Harrington Investments INC grew its holdings in shares of First Solar by 0.5% in the 2nd quarter. Harrington Investments INC now owns 13,278 shares of the solar cell manufacturer’s stock worth $2,198,000 after purchasing an additional 65 shares during the last quarter. Penserra Capital Management LLC grew its holdings in shares of First Solar by 13.4% in the 2nd quarter. Penserra Capital Management LLC now owns 560 shares of the solar cell manufacturer’s stock worth $92,000 after purchasing an additional 66 shares during the last quarter. Finally, Energy Income Partners LLC increased its position in shares of First Solar by 0.8% during the 1st quarter. Energy Income Partners LLC now owns 9,257 shares of the solar cell manufacturer’s stock worth $1,170,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.