First Solar (NASDAQ:FSLR) Price Target Raised to $260.00 at Rothschild & Co Redburn

First Solar (NASDAQ:FSLR) had its price target increased by equities research analysts at Rothschild & Co Redburn from $150.00 to $260.00 in a research note issued on Thursday,MarketScreener reports. The firm currently has a “neutral” rating on the solar cell manufacturer’s stock. Rothschild & Co Redburn’s price objective points to a potential downside of 0.73% from the stock’s current price.

Several other research analysts have also recently weighed in on FSLR. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a report on Friday, August 1st. Needham & Company LLC began coverage on shares of First Solar in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $286.00 target price for the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $316.00 price objective on shares of First Solar in a report on Friday, October 31st. Royal Bank Of Canada increased their target price on shares of First Solar from $201.00 to $244.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Finally, TD Cowen raised their price objective on shares of First Solar from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.79.

First Solar Price Performance

NASDAQ:FSLR traded down $5.61 during trading hours on Thursday, hitting $261.91. The company’s stock had a trading volume of 885,028 shares, compared to its average volume of 3,443,399. The stock has a fifty day simple moving average of $230.76 and a 200-day simple moving average of $191.07. The company has a market capitalization of $28.11 billion, a P/E ratio of 22.37, a PEG ratio of 0.46 and a beta of 1.51. First Solar has a twelve month low of $116.56 and a twelve month high of $281.55. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41.

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

Insider Buying and Selling at First Solar

In other news, CEO Mark R. Widmar sold 2,321 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $199.44, for a total value of $462,900.24. Following the completion of the transaction, the chief executive officer directly owned 81,861 shares in the company, valued at $16,326,357.84. This trade represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul H. Stebbins sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $262.40, for a total value of $1,836,800.00. Following the completion of the transaction, the director directly owned 15,287 shares of the company’s stock, valued at $4,011,308.80. The trade was a 31.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 51,233 shares of company stock worth $13,434,249. Company insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On First Solar

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of First Solar by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock valued at $3,026,108,000 after acquiring an additional 464,130 shares during the last quarter. State Street Corp increased its holdings in shares of First Solar by 2.1% in the 2nd quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock valued at $881,680,000 after acquiring an additional 111,927 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of First Solar by 0.9% during the second quarter. Geode Capital Management LLC now owns 2,857,848 shares of the solar cell manufacturer’s stock worth $471,927,000 after purchasing an additional 26,476 shares during the last quarter. Wellington Management Group LLP boosted its stake in First Solar by 17.2% during the 1st quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer’s stock worth $349,617,000 after purchasing an additional 405,457 shares during the period. Finally, Invesco Ltd. grew its stake in shares of First Solar by 32.3% in the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock valued at $306,909,000 after purchasing an additional 592,444 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.