First Solar (NASDAQ:FSLR) Price Target Raised to $241.00

First Solar (NASDAQ:FSLR) had its target price lifted by Evercore ISI from $240.90 to $241.00 in a research note published on Friday morning,MarketScreener reports.

Several other analysts have also recently commented on FSLR. JPMorgan Chase & Co. upped their target price on shares of First Solar from $262.00 to $278.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. TD Cowen lifted their price objective on First Solar from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday. Wolfe Research increased their target price on First Solar from $209.00 to $232.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. BMO Capital Markets restated an “outperform” rating and set a $273.00 target price on shares of First Solar in a report on Friday. Finally, Guggenheim upped their price target on First Solar from $202.00 to $287.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.23.

First Solar Stock Performance

First Solar stock opened at $266.94 on Friday. The company has a market cap of $28.63 billion, a PE ratio of 22.83, a PEG ratio of 0.46 and a beta of 1.38. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. First Solar has a 1 year low of $116.56 and a 1 year high of $269.67. The company’s 50-day moving average is $219.21 and its two-hundred day moving average is $183.78.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 EPS for the quarter, missing the consensus estimate of $4.32 by ($0.08). First Solar had a return on equity of 15.57% and a net margin of 28.95%.The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the firm earned $2.91 EPS. The firm’s quarterly revenue was up 79.7% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. Equities analysts anticipate that First Solar will post 13.05 earnings per share for the current year.

Insider Activity

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of First Solar stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 23,912 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the completion of the transaction, the chief executive officer owned 87,978 shares of the company’s stock, valued at $16,317,279.66. This trade represents a 21.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,715 shares of company stock worth $5,733,305 in the last quarter. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Solar

Several institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers raised its stake in shares of First Solar by 10.9% in the 1st quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer’s stock valued at $3,216,000 after purchasing an additional 2,510 shares during the period. Hunter Associates Investment Management LLC acquired a new position in shares of First Solar during the first quarter worth about $272,000. Raymond James Financial Inc. grew its holdings in shares of First Solar by 57.2% during the first quarter. Raymond James Financial Inc. now owns 43,991 shares of the solar cell manufacturer’s stock worth $5,562,000 after buying an additional 16,003 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. grew its holdings in shares of First Solar by 18.2% during the first quarter. Sumitomo Mitsui Financial Group Inc. now owns 101,659 shares of the solar cell manufacturer’s stock worth $12,853,000 after buying an additional 15,656 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in First Solar by 49.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,251 shares of the solar cell manufacturer’s stock valued at $10,471,000 after buying an additional 20,884 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

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.