First Solar (NASDAQ:FSLR) Price Target Cut to $260.00 by Analysts at Wells Fargo & Company

First Solar (NASDAQ:FSLR) had its target price reduced by Wells Fargo & Company from $313.00 to $260.00 in a report released on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the solar cell manufacturer’s stock.

FSLR has been the subject of several other reports. Truist Financial raised shares of First Solar from a “hold” rating to a “buy” rating and raised their target price for the stock from $229.00 to $270.00 in a research report on Monday, October 12th. Sanford C. Bernstein reduced their price target on shares of First Solar from $197.00 to $169.00 and set an “underperform” rating on the stock in a research report on Friday. Glj Research lowered shares of First Solar from a “buy” rating to a “hold” rating and set a $161.00 price objective for the company. in a report on Friday. Argus reaffirmed a “buy” rating and set a $275.00 price objective on shares of First Solar in a research report on Wednesday, August 26th. Finally, Morgan Stanley upped their target price on First Solar from $323.00 to $326.00 and gave the stock an “overweight” rating in a report on Wednesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.62.

First Solar Stock Performance

FSLR opened at $174.40 on Friday. First Solar has a 52-week low of $165.86 and a 52-week high of $320.95. The stock has a market capitalization of $18.74 billion, a PE ratio of 10.09, a price-to-earnings-growth ratio of 0.48 and a beta of 1.80. The stock’s 50 day moving average price is $188.72 and its 200-day moving average price is $216.19.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, October 29th. The solar cell manufacturer reported $5.30 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.63. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.29 billion. First Solar had a return on equity of 18.78% and a net margin of 37.12%. The firm’s revenue was down 22.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.24 earnings per share. Research analysts forecast that First Solar will post 17.63 EPS for the current fiscal year.

Insider Buying and Selling

In other First Solar news, insider Michael Koralewski sold 7,000 shares of First Solar stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $221.51, for a total transaction of $1,550,570.00. Following the completion of the transaction, the insider owned 7,642 shares in the company, valued at approximately $1,692,779.42. The trade was a 47.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Samantha Sloan sold 127 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $222.95, for a total value of $28,314.65. Following the completion of the sale, the executive vice president directly owned 2,018 shares in the company, valued at $449,913.10. This trade represents a 5.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 16,681 shares of company stock worth $3,756,286 in the last 90 days. Corporate insiders own 0.39% of the company’s stock.

Institutional Trading of First Solar

Several institutional investors have recently bought and sold shares of FSLR. Covestor Ltd lifted its stake in shares of First Solar by 484.9% in the third quarter. Covestor Ltd now owns 310 shares of the solar cell manufacturer’s stock worth $54,000 after buying an additional 257 shares in the last quarter. Rakuten Investment Management Inc. grew its holdings in shares of First Solar by 9.7% during the third quarter. Rakuten Investment Management Inc. now owns 18,939 shares of the solar cell manufacturer’s stock valued at $3,351,000 after buying an additional 1,674 shares during the last quarter. IPG Investment Advisors LLC grew its holdings in shares of First Solar by 18.9% during the third quarter. IPG Investment Advisors LLC now owns 6,170 shares of the solar cell manufacturer’s stock valued at $1,081,000 after buying an additional 982 shares during the last quarter. Summit Wealth Group LLC Co. bought a new stake in shares of First Solar during the third quarter valued at approximately $373,000. Finally, Greenleaf Trust increased its position in shares of First Solar by 1.5% during the third quarter. Greenleaf Trust now owns 4,946 shares of the solar cell manufacturer’s stock valued at $866,000 after acquiring an additional 71 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting First Solar

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

• Positive Sentiment: First Solar reported third-quarter adjusted earnings of $5.30 per share, beating estimates by roughly 14%, while net income increased 25% year over year. Strong margins and a reported $13.5 billion backlog provide support for longer-term earnings visibility. First Solar Announces Third Quarter 2026 Financial Results
• Positive Sentiment: The company authorized a $500 million share-repurchase program, which could support per-share results and signal management’s confidence in long-term cash generation. First Solar Posts Strong Q3 Results and Launches Buyback Plan
• Positive Sentiment: First Solar signed a U.S. patent licensing agreement with CubicPV covering perovskite technology, potentially advancing its next-generation solar-product development. The company also inaugurated the first phase of its South Carolina facility, expanding domestic manufacturing capacity. First Solar and CubicPV Enter U.S. Patent Licensing Agreement

About First Solar

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.