BMO Capital Markets Raises First Solar (NASDAQ:FSLR) Price Target to $285.00

First Solar (NASDAQ:FSLR) had its price target boosted by BMO Capital Markets from $273.00 to $285.00 in a research note issued to investors on Wednesday,MarketScreener reports. The firm currently has an “outperform” rating on the solar cell manufacturer’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 12.35% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on FSLR. UBS Group upped their price target on shares of First Solar from $275.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Needham & Company LLC initiated coverage on shares of First Solar in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $286.00 target price on the stock. Citigroup raised their price target on shares of First Solar from $198.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Daiwa Capital Markets boosted their price objective on shares of First Solar from $215.00 to $284.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, TD Cowen increased their target price on First Solar from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average target price of $270.73.

First Solar Stock Performance

First Solar stock opened at $253.67 on Wednesday. First Solar has a twelve month low of $116.56 and a twelve month high of $281.55. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $27.22 billion, a P/E ratio of 19.48, a PEG ratio of 0.50 and a beta of 1.59. The stock’s 50 day moving average is $248.73 and its 200 day moving average is $205.60.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). First Solar had a net margin of 27.73% and a return on equity of 16.61%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the firm posted $2.91 EPS. The firm’s quarterly revenue was up 79.7% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. On average, equities research analysts predict that First Solar will post 13.05 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In other news, Director Michael T. Sweeney sold 4,500 shares of First Solar stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $271.11, for a total transaction of $1,219,995.00. Following the transaction, the director owned 13,662 shares in the company, valued at $3,703,904.82. This trade represents a 24.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Georges Antoun sold 37,412 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total value of $9,914,554.12. Following the completion of the transaction, the insider directly owned 15,424 shares in the company, valued at approximately $4,087,514.24. This represents a 70.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 48,912 shares of company stock worth $12,971,349 in the last 90 days. 0.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Solar

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SFE Investment Counsel increased its stake in First Solar by 9.1% in the 2nd quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer’s stock worth $11,556,000 after buying an additional 5,852 shares during the period. Raymond James Financial Inc. grew its stake in First Solar by 57.2% in the 1st quarter. Raymond James Financial Inc. now owns 43,991 shares of the solar cell manufacturer’s stock worth $5,562,000 after acquiring an additional 16,003 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. increased its position in shares of First Solar by 18.2% during the first quarter. Sumitomo Mitsui Financial Group Inc. now owns 101,659 shares of the solar cell manufacturer’s stock worth $12,853,000 after acquiring an additional 15,656 shares during the period. Atlantic Union Bankshares Corp bought a new stake in shares of First Solar during the second quarter valued at approximately $1,323,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of First Solar by 49.3% in 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 purchasing an additional 20,884 shares during the period. Institutional investors own 92.08% of the company’s stock.

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.