First Solar (NASDAQ:FSLR) Stock Price Target Lowered at Sanford C. Bernstein

First Solar (NASDAQ:FSLR) had its price objective reduced by equities research analysts at Sanford C. Bernstein from $197.00 to $169.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “underperform” rating on the solar cell manufacturer’s stock. Sanford C. Bernstein‘s price objective indicates a potential downside of 4.46% from the company’s previous close.

FSLR has been the subject of several other reports. TD Cowen upgraded First Solar to a “strong-buy” rating in a research note on Monday, October 5th. Susquehanna increased their price objective on First Solar from $250.00 to $270.00 and gave the stock a “positive” rating in a research report on Friday, July 10th. Jefferies Financial Group reissued a “hold” rating and set a $199.00 target price on shares of First Solar in a report on Friday, October 16th. Deutsche Bank Aktiengesellschaft cut shares of First Solar from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. Finally, Morgan Stanley upped their price target on shares of First Solar from $323.00 to $326.00 and gave the company an “overweight” rating in a research note on Wednesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.87.

First Solar Stock Up 0.3%

First Solar stock opened at $176.89 on Friday. The company’s 50-day moving average price is $189.51 and its two-hundred day moving average price is $216.51. The stock has a market cap of $19.01 billion, a P/E ratio of 10.91, a P/E/G ratio of 0.48 and a beta of 1.80. First Solar has a twelve month low of $165.86 and a twelve month high of $320.95.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, October 29th. The solar cell manufacturer reported $5.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.63. First Solar had a return on equity of 18.02% and a net margin of 32.47%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the company posted $4.24 earnings per share. The business’s revenue was down 22.8% on a year-over-year basis. Equities analysts anticipate that First Solar will post 17.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Solar news, CTO Markus Gloeckler sold 3,425 shares of First Solar stock in a transaction on Monday, August 3rd. The stock was 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 of the company’s stock, valued at $1,635,775.45. The trade was a 31.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Samantha Sloan sold 127 shares of the firm’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 transaction, the executive vice president owned 2,018 shares in the company, valued at $449,913.10. The trade was a 5.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 16,681 shares of company stock worth $3,756,286 in the last quarter. Insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On First Solar

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rakuten Investment Management Inc. bought a new position in First Solar in the second quarter valued at approximately $4,019,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in First Solar by 7.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,535,836 shares of the solar cell manufacturer’s stock worth $362,396,000 after purchasing an additional 100,694 shares during the last quarter. Jupiter Topco LLC acquired a new stake in shares of First Solar in the 2nd quarter valued at $6,121,000. Handelsbanken Fonder AB boosted its holdings in shares of First Solar by 15.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 683,112 shares of the solar cell manufacturer’s stock valued at $161,187,000 after purchasing an additional 89,214 shares in the last quarter. Finally, Korea Investment CORP acquired a new stake in shares of First Solar in the 2nd quarter valued at $15,822,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about First Solar

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

• Positive Sentiment: Q3 earnings exceeded expectations: First Solar reported adjusted earnings of $5.30 per share, above the approximately $4.64–$4.67 consensus and up from $4.24 a year earlier. Cost reductions and strong margins helped drive the 14% earnings beat. First Solar Tops Q3 Earnings Estimates
• Positive Sentiment: $500 million share-repurchase program: The buyback could support per-share results and signals management’s confidence in the company’s cash-generation outlook. First Solar Announces Third Quarter Results and Buyback
• Positive Sentiment: Technology and manufacturing expansion: First Solar signed a U.S. patent-licensing agreement with CubicPV covering perovskite technology, while its South Carolina facility began operations. The facility is expected to reach 3.4 gigawatts of annual capacity after its second phase is completed in 2027. These developments reinforce the company’s domestic manufacturing footprint and potential competitive moat. First Solar and CubicPV Patent Agreement
• Neutral Sentiment: Backlog remains a support: Analysts highlighted First Solar’s strong backlog and margins, but noted that elevated interest rates could pressure renewable-energy project financing and valuation multiples. Ariel Global Fund on First Solar
• Negative Sentiment: Revenue missed estimates and declined: Third-quarter revenue fell 22.8% year over year to $1.23 billion, below the $1.29 billion consensus. Full-year revenue guidance of $4.75 billion at the midpoint was also about 5.7% below analyst expectations, overshadowing the EPS beat and clouding the near-term outlook. First Solar Misses Q3 Sales Expectations

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.