First Solar (NASDAQ:FSLR) Price Target Raised to $335.00

First Solar (NASDAQ:FSLR) had its price objective increased by Mizuho from $278.00 to $335.00 in a research note released on Friday morning,MarketScreener reports.

Several other research firms also recently weighed in on FSLR. Robert W. Baird raised their target price on shares of First Solar from $240.00 to $264.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Glj Research reiterated a “buy” rating and issued a $214.06 price target (up from $172.53) on shares of First Solar in a research report on Tuesday, August 12th. Susquehanna lifted their price objective on First Solar from $222.00 to $273.00 and gave the stock a “positive” rating in a research report on Monday, October 13th. Roth Capital reaffirmed a “buy” rating and issued a $270.00 target price (up previously from $225.00) on shares of First Solar in a research note on Monday, October 27th. Finally, Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $261.23.

First Solar Stock Performance

NASDAQ FSLR opened at $266.94 on Friday. The business has a 50 day moving average price of $219.21 and a 200 day moving average price of $183.78. The company has a market capitalization of $28.63 billion, a P/E ratio of 22.83, a PEG ratio of 0.46 and a beta of 1.38. First Solar has a 1-year low of $116.56 and a 1-year high of $269.67. 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 posted its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing the consensus estimate of $4.32 by ($0.08). First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the company posted $2.91 EPS. 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. Sell-side analysts expect that First Solar will post 13.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Mark R. Widmar sold 23,912 shares of the firm’s stock in a transaction on 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 in the company, valued at $16,317,279.66. This trade represents a 21.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Nathan B. Theurer sold 686 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 30,715 shares of company stock worth $5,733,305. Corporate insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On First Solar

Several hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers boosted its holdings in shares of First Solar by 10.9% in the 1st quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer’s stock valued at $3,216,000 after purchasing an additional 2,510 shares during the last quarter. Hunter Associates Investment Management LLC purchased a new position in shares of First Solar in the 1st quarter worth $272,000. Raymond James Financial Inc. boosted its holdings in First Solar by 57.2% in the first quarter. Raymond James Financial Inc. now owns 43,991 shares of the solar cell manufacturer’s stock valued at $5,562,000 after acquiring an additional 16,003 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. boosted its holdings in First Solar by 18.2% in the first quarter. Sumitomo Mitsui Financial Group Inc. now owns 101,659 shares of the solar cell manufacturer’s stock valued at $12,853,000 after acquiring an additional 15,656 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in First Solar by 49.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,251 shares of the solar cell manufacturer’s stock valued at $10,471,000 after acquiring an additional 20,884 shares during the period. 92.08% of the stock is 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.