First Solar, Inc. (NASDAQ:FSLR) Receives $236.60 Average PT from Brokerages

First Solar, Inc. (NASDAQ:FSLR) has received a consensus recommendation of “Moderate Buy” from the thirty brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, twenty-three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $240.5624.

A number of research analysts have recently commented on FSLR shares. Citigroup lifted their price objective on shares of First Solar from $198.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley lifted their price objective on shares of First Solar from $215.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday. The Goldman Sachs Group lifted their price objective on shares of First Solar from $283.00 to $293.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. TD Cowen lifted their price objective on shares of First Solar from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Finally, Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a research report on Friday, August 1st.

Insider Transactions at First Solar

In other 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark R. Widmar sold 23,912 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the sale, the chief executive officer owned 87,978 shares of the company’s stock, valued at approximately $16,317,279.66. This represents a 21.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,715 shares of company stock valued at $5,733,305. Insiders own 0.48% of the company’s stock.

Institutional Trading of First Solar

A number of hedge funds have recently modified their holdings of the stock. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of First Solar by 17.8% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,672 shares of the solar cell manufacturer’s stock worth $369,000 after buying an additional 253 shares during the last quarter. Ethic Inc. raised its stake in First Solar by 0.3% in the 3rd quarter. Ethic Inc. now owns 20,443 shares of the solar cell manufacturer’s stock worth $4,508,000 after purchasing an additional 59 shares in the last quarter. Perigon Wealth Management LLC acquired a new stake in First Solar in the 3rd quarter worth about $342,000. E. Ohman J or Asset Management AB raised its stake in First Solar by 1.0% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 141,902 shares of the solar cell manufacturer’s stock worth $31,294,000 after purchasing an additional 1,411 shares in the last quarter. Finally, Ellsworth Advisors LLC raised its stake in First Solar by 5.1% in the 3rd quarter. Ellsworth Advisors LLC now owns 7,726 shares of the solar cell manufacturer’s stock worth $1,888,000 after purchasing an additional 372 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Down 2.5%

First Solar stock opened at $231.85 on Wednesday. The company has a market cap of $24.87 billion, a P/E ratio of 19.83, a price-to-earnings-growth 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. The company has a fifty day simple moving average of $210.88 and a 200 day simple moving average of $174.99. 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 (NASDAQ:FSLR) last released its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.50. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Research analysts anticipate that First Solar will post 13.05 earnings per share for the current fiscal year.

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.