First Solar (NASDAQ:FSLR) Price Target Raised to $264.00

First Solar (NASDAQ:FSLR) had its price target increased by Robert W. Baird from $240.00 to $264.00 in a research note released on Monday,MarketScreener reports. They currently have an outperform rating on the solar cell manufacturer’s stock.

Other research analysts have also recently issued research reports about the company. Evercore ISI started coverage on First Solar in a research note on Monday, October 6th. They issued an “in-line” rating and a $240.00 price target for the company. Bank of America boosted their target price on First Solar from $185.00 to $201.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Glj Research restated a “buy” rating and set a $214.06 target price (up previously from $172.53) on shares of First Solar in a research note on Tuesday, August 12th. TD Cowen raised their price target on shares of First Solar from $220.00 to $240.00 and gave the company a “buy” rating in a report on Friday, September 12th. Finally, Royal Bank Of Canada boosted their price objective on shares of First Solar from $188.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.72.

First Solar Stock Up 8.9%

NASDAQ:FSLR opened at $244.40 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The firm has a market cap of $26.21 billion, a P/E ratio of 20.91, a P/E/G ratio of 0.45 and a beta of 1.38. First Solar has a fifty-two week low of $116.56 and a fifty-two week high of $248.04. The firm has a 50-day simple moving average of $208.89 and a two-hundred day simple moving average of $173.50.

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

Insiders Place Their Bets

In other news, CAO Nathan B. Theurer sold 686 shares of the firm’s stock in a transaction on 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 filing with the SEC, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 2,321 shares of First Solar stock in a transaction on Friday, August 15th. The shares were sold at an average price of $199.44, for a total transaction of $462,900.24. Following the transaction, the chief executive officer owned 81,861 shares in the company, valued at approximately $16,326,357.84. This trade represents a 2.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,715 shares of company stock valued at $5,733,305. Corporate insiders own 0.48% of the company’s stock.

Institutional Trading of First Solar

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSLR. Vanguard Group Inc. boosted its stake in First Solar by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 13,257,849 shares of the solar cell manufacturer’s stock worth $2,194,704,000 after purchasing an additional 57,507 shares during the period. State Street Corp raised its position in shares of First Solar by 2.1% during the second quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock valued at $881,680,000 after buying an additional 111,927 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of First Solar by 0.9% in 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 buying an additional 26,476 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of First Solar by 17.2% during the first quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer’s stock worth $349,617,000 after acquiring an additional 405,457 shares during the last quarter. Finally, Invesco Ltd. grew its stake in First Solar by 32.3% during the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock valued at $306,909,000 after acquiring an additional 592,444 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.