First Solar (NASDAQ:FSLR) Price Target Raised to $284.00

First Solar (NASDAQ:FSLR) had its price objective raised by Daiwa Capital Markets from $215.00 to $284.00 in a research report sent to investors on Tuesday,MarketScreener reports. They currently have an outperform rating on the solar cell manufacturer’s stock.

Other research analysts also recently issued reports about the company. Jefferies Financial Group set a $269.00 price target on First Solar and gave the stock a “buy” rating in a research note on Friday, October 31st. DZ Bank lowered First Solar from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Wells Fargo & Company increased their target price on First Solar from $213.00 to $270.00 in a report on Friday, October 31st. JPMorgan Chase & Co. boosted their price target on shares of First Solar from $278.00 to $303.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Finally, Seaport Global Securities raised their price objective on shares of First Solar from $217.00 to $305.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $270.73.

First Solar Stock Performance

Shares of FSLR stock opened at $272.83 on Tuesday. The firm has a 50 day moving average of $250.29 and a 200-day moving average of $206.46. The company has a market cap of $29.28 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 0.51 and a beta of 1.59. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.03. First Solar has a 52 week low of $116.56 and a 52 week high of $281.55.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.32 by ($0.08). First Solar had a return on equity of 16.61% and a net margin of 27.73%.The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the company earned $2.91 earnings per share. The firm’s 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 analysts forecast that First Solar will post 13.05 earnings per share for the current year.

Insider Activity

In other First Solar news, Director Michael T. Sweeney sold 4,500 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $271.11, for a total value of $1,219,995.00. Following the completion of the sale, the director owned 13,662 shares in the company, valued at approximately $3,703,904.82. This trade represents a 24.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Georges Antoun sold 37,412 shares of First Solar stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total transaction of $9,914,554.12. Following 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 position. The SEC filing for this sale provides additional information. Insiders sold a total of 48,912 shares of company stock worth $12,971,349 over the last quarter. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On First Solar

Large investors have recently made changes to their positions in the business. SFE Investment Counsel lifted 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 purchasing an additional 5,852 shares in the last quarter. Raymond James Financial Inc. increased its holdings in shares of 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 worth $5,562,000 after purchasing an additional 16,003 shares during the period. Sumitomo Mitsui Financial Group Inc. boosted its stake in 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 valued at $12,853,000 after buying an additional 15,656 shares during the period. Atlantic Union Bankshares Corp purchased a new position in First Solar during the second quarter worth about $1,323,000. 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 worth $10,471,000 after buying an additional 20,884 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

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.