First Solar (NASDAQ:FSLR) Price Target Raised to $285.00

First Solar (NASDAQ:FSLR) had its price objective lifted by BMO Capital Markets from $273.00 to $285.00 in a report released on Wednesday morning,MarketScreener reports. They currently have an outperform rating on the solar cell manufacturer’s stock.

Several other research firms have also recently weighed in on FSLR. Susquehanna raised their target price on shares of First Solar from $273.00 to $285.00 in a research note on Friday, October 31st. Roth Capital set a $300.00 price target on shares of First Solar in a research note on Friday, October 31st. TD Cowen increased their price objective on shares of First Solar from $240.00 to $260.00 and gave the company a “buy” rating in a report on Friday, October 31st. Daiwa Capital Markets lifted their target price on First Solar from $215.00 to $284.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Citigroup boosted their target price on First Solar from $198.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $270.73.

First Solar Stock Performance

NASDAQ:FSLR opened at $254.80 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. First Solar has a 12-month low of $116.56 and a 12-month high of $281.55. The stock has a 50-day moving average price of $250.79 and a 200 day moving average price of $207.13. The stock has a market capitalization of $27.34 billion, a P/E ratio of 19.57, a P/E/G ratio of 0.53 and a beta of 1.59.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 EPS for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). First Solar had a return on equity of 16.61% and a net margin of 27.73%.The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the firm posted $2.91 earnings per share. The firm’s revenue for the quarter was up 79.7% on a year-over-year basis. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. Equities research analysts forecast that First Solar will post 13.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael T. Sweeney sold 4,500 shares of First Solar stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $271.11, for a total value of $1,219,995.00. Following the completion of the transaction, the director owned 13,662 shares in the company, valued at approximately $3,703,904.82. The trade was a 24.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Georges Antoun sold 37,412 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $265.01, for a total value of $9,914,554.12. Following the transaction, the insider directly owned 15,424 shares in the company, valued at approximately $4,087,514.24. This represents a 70.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,912 shares of company stock valued at $12,971,349 over the last ninety days. 0.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP increased its position in First Solar by 5.9% during the third quarter. Allworth Financial LP now owns 956 shares of the solar cell manufacturer’s stock valued at $211,000 after acquiring an additional 53 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of First Solar by 3,712.5% in the 3rd quarter. IFP Advisors Inc now owns 1,220 shares of the solar cell manufacturer’s stock worth $269,000 after acquiring an additional 1,188 shares during the last quarter. Swiss Life Asset Management Ltd boosted its stake in shares of First Solar by 14.4% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 22,893 shares of the solar cell manufacturer’s stock worth $5,049,000 after purchasing an additional 2,873 shares during the period. Groupama Asset Managment bought a new position in First Solar during the 3rd quarter valued at about $240,000. Finally, Cambria Investment Management L.P. bought a new position in First Solar during the 3rd quarter valued at about $343,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

About First Solar

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.