Wells Fargo & Company Raises First Solar (NASDAQ:FSLR) Price Target to $313.00

First Solar (NASDAQ:FSLR) had its target price hoisted by research analysts at Wells Fargo & Company from $300.00 to $313.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the solar cell manufacturer’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 19.55% from the stock’s previous close.

Several other brokerages also recently issued reports on FSLR. HSBC increased their price target on First Solar from $211.00 to $231.00 and gave the company a “hold” rating in a report on Tuesday, May 5th. Truist Financial reiterated a “hold” rating and set a $229.00 target price (down from $249.00) on shares of First Solar in a report on Friday, July 31st. Jefferies Financial Group set a $196.00 price target on First Solar in a research report on Monday. Roth Capital restated a “buy” rating and issued a $300.00 price target on shares of First Solar in a report on Friday, July 24th. Finally, TD Cowen reaffirmed a “buy” rating on shares of First Solar in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $254.89.

First Solar Stock Performance

NASDAQ FSLR opened at $261.82 on Friday. The firm has a market capitalization of $28.13 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 0.52 and a beta of 1.75. First Solar has a one year low of $176.47 and a one year high of $320.95. The company’s 50 day moving average price is $242.13 and its 200 day moving average price is $225.09.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $1.02. First Solar had a net margin of 32.47% and a return on equity of 18.02%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm earned $3.18 earnings per share. First Solar’s revenue for the quarter was down 3.4% on a year-over-year basis. Sell-side analysts forecast that First Solar will post 17.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, CEO Mark R. Widmar sold 9,926 shares of First Solar stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $233.21, for a total transaction of $2,314,842.46. Following the sale, the chief executive officer directly owned 95,148 shares in the company, valued at $22,189,465.08. The trade was a 9.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 3,425 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $218.95, for a total value of $749,903.75. Following the completion of the transaction, the chief technology officer directly owned 7,471 shares in the company, valued at approximately $1,635,775.45. The trade was a 31.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 38,505 shares of company stock valued at $9,398,886. Insiders own 0.39% of the company’s stock.

Institutional Trading of First Solar

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in First Solar by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 2,919,991 shares of the solar cell manufacturer’s stock valued at $761,396,000 after acquiring an additional 24,206 shares in the last quarter. Viking Global Investors LP grew its holdings in First Solar by 60.6% during the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after acquiring an additional 854,919 shares in the last quarter. Amundi grew its holdings in First Solar by 9.4% during the 4th quarter. Amundi now owns 2,215,461 shares of the solar cell manufacturer’s stock worth $578,791,000 after acquiring an additional 189,626 shares in the last quarter. Norges Bank bought a new stake in shares of First Solar in the 4th quarter worth about $392,040,000. Finally, Schroder Investment Management Group increased its position in shares of First Solar by 7.6% in the 4th quarter. Schroder Investment Management Group now owns 1,427,105 shares of the solar cell manufacturer’s stock worth $372,803,000 after purchasing an additional 100,908 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Key Headlines Impacting First Solar

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: The administration imposed a 15% tariff and minimum import-price requirements on polysilicon and downstream products under Section 232. The measures, scheduled to take effect December 4, could reduce pricing pressure from lower-cost imports and improve the competitive position of First Solar’s domestic manufacturing business. First Solar Shares Jump After Trump Introduces New Tariffs on Solar Imports
• Positive Sentiment: First Solar publicly supported the action, highlighting that Chinese producers control more than 90% of global polysilicon supply. Investors appear to view the policy as more favorable to First Solar than previously expected because the company primarily uses its proprietary cadmium-telluride technology and has a substantial U.S. manufacturing footprint. First Solar Applauds Comprehensive Section 232 Action
• Positive Sentiment: Wells Fargo raised its FSLR price target to $313 from $300 while maintaining an overweight rating, saying the tariff and price-floor policy could provide greater benefits than anticipated. The stock also cleared a technical buy point, adding momentum. First Solar Clears Aggressive Buy Point
• Neutral Sentiment: First Solar’s latest quarterly results exceeded expectations, with earnings of $3.92 per share versus the $2.90 consensus estimate on approximately $1.06 billion in revenue. However, revenue declined year over year, so investors remain focused on whether the company can sustain earnings growth and convert its contracted backlog.
• Negative Sentiment: Several law firms publicized a securities class-action lawsuit alleging inadequate disclosure of production underutilization, onshoring costs and related risks. The August 24 lead-plaintiff deadline could create legal and reputational overhang, although the allegations have not been proven. Pomerantz Class Action Announcement

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin?film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility?scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.