First Solar (NASDAQ:FSLR) Given New $169.00 Price Target at Sanford C. Bernstein

Key Points

• Sanford C. Bernstein cut First Solar’s price target from $197 to $169 and maintained an “underperform” rating, implying approximately 4.46% downside from the reported share price.
• Analyst sentiment remains mixed but broadly positive: First Solar has an average “Moderate Buy” rating and a consensus price target of $262.87, with targets ranging from bearish to as high as $299.
• First Solar beat third-quarter EPS expectations with $5.30 per share versus the $4.67 consensus, but revenue declined 22.8% year over year to $1.23 billion and missed estimates, highlighting near-term growth concerns.

First Solar (NASDAQ:FSLR - Get Free Report) had its price target cut by equities research analysts at Sanford C. Bernstein from $197.00 to $169.00 in a report released on Friday, Benzinga reports. The brokerage currently has an "underperform" rating on the solar cell manufacturer's stock. Sanford C. Bernstein's price target points to a potential downside of 4.46% from the stock's current price.

Several other analysts have also recently commented on the stock. Barclays dropped their target price on shares of First Solar from $279.00 to $259.00 and set an "overweight" rating for the company in a research report on Thursday, October 15th. Oppenheimer reaffirmed a "market perform" rating on shares of First Solar in a research note on Friday, July 31st. HC Wainwright initiated coverage on shares of First Solar in a research note on Thursday, August 27th. They set a "buy" rating for the company. Deutsche Bank Aktiengesellschaft downgraded shares of First Solar from a "buy" rating to a "hold" rating in a report on Thursday, August 27th. Finally, Guggenheim increased their target price on shares of First Solar from $282.00 to $299.00 and gave the stock a "buy" rating in a report on Tuesday. Two 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. Based on data from MarketBeat.com, First Solar presently has an average rating of "Moderate Buy" and an average target price of $262.87.

First Solar Trading Up 0.3%

Shares of NASDAQ FSLR opened at $176.89 on Friday. First Solar has a 1-year low of $165.86 and a 1-year high of $320.95. The company has a 50-day moving average of $189.51 and a two-hundred day moving average of $216.51. The company has a market cap of $19.01 billion, a PE ratio of 10.91, a P/E/G ratio of 0.48 and a beta of 1.80.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The solar cell manufacturer reported $5.30 EPS for the quarter, beating the consensus estimate of $4.67 by $0.63. The business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.29 billion. First Solar had a net margin of 32.47% and a return on equity of 18.02%. First Solar's revenue was down 22.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.24 earnings per share. As a group, equities research analysts forecast that First Solar will post 17.63 earnings per share for the current year.

Insider Activity

In other First Solar news, General Counsel Jason E. Dymbort sold 3,700 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $249.38, for a total value of $922,706.00. Following the completion of the sale, the general counsel owned 5,624 shares in the company, valued at $1,402,513.12. This trade represents a 39.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Koralewski sold 7,000 shares of First Solar stock in a transaction dated Monday, August 3rd. The shares were 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 directly owned 7,642 shares of the company's stock, valued at approximately $1,692,779.42. This trade represents a 47.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,681 shares of company stock valued at $3,756,286 over the last three months. Corporate insiders own 0.39% of the company's stock.

Hedge Funds Weigh In On First Solar

A number of hedge funds and other institutional investors have recently bought and sold shares of FSLR. IPG Investment Advisors LLC lifted its position in shares of First Solar by 18.9% in 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. acquired a new position in shares of First Solar during the 3rd quarter worth approximately $373,000. Greenleaf Trust raised its stake in First Solar by 1.5% in the 3rd 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 during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in First Solar in the 3rd quarter valued at $11,874,000. Finally, SFE Investment Counsel lifted its holdings in First Solar by 10.1% during the 3rd quarter. SFE Investment Counsel now owns 69,125 shares of the solar cell manufacturer's stock valued at $12,108,000 after purchasing an additional 6,335 shares during the last quarter. Institutional investors own 92.08% of the company's stock.

Key Stories Impacting 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.

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