Evercore ISI Upgrades First Solar (NASDAQ:FSLR) to "Hold"

Key Points

• Evercore ISI has upgraded First Solar (NASDAQ:FSLR) to a "hold" rating, while other analysts have set higher price targets, with Guggenheim raising it to $287.00.
• First Solar's recent earnings report showed $3.18 EPS, surpassing estimates, and a year-over-year revenue increase of 8.6% to $1.10 billion.
• The stock currently has an average price target of $229.52, with a majority of analysts rating it as a "Moderate Buy."

First Solar (NASDAQ:FSLR - Get Free Report) was upgraded by analysts at Evercore ISI to a "hold" rating in a research report issued on Monday,Zacks.com reports.

A number of other research analysts have also recently issued reports on FSLR. Guggenheim raised their price objective on First Solar from $202.00 to $287.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. JPMorgan Chase & Co. raised their price objective on First Solar from $241.00 to $262.00 and gave the company an "overweight" rating in a research note on Friday, September 19th. Mizuho raised their price objective on First Solar from $275.00 to $278.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Deutsche Bank Aktiengesellschaft raised their price objective on First Solar from $225.00 to $255.00 and gave the company a "buy" rating in a research note on Wednesday, October 1st. Finally, Wall Street Zen upgraded shares of First Solar from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $229.52.

First Solar Stock Down 0.7%

FSLR opened at $227.89 on Monday. The stock has a market cap of $24.44 billion, a PE ratio of 19.49, a P/E/G ratio of 0.46 and a beta of 1.38. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. First Solar has a 52 week low of $116.56 and a 52 week high of $235.87. The business's fifty day simple moving average is $203.02 and its 200 day simple moving average is $169.53.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the prior year, the firm earned $3.25 earnings per share. The firm's revenue was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, research analysts expect that First Solar will post 13.05 earnings per share for the current fiscal year.

Insider Activity at First Solar

In other news, CAO Nathan B. Theurer sold 686 shares of First Solar stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 23,912 shares of First Solar stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the transaction, the chief executive officer owned 87,978 shares of the company's stock, valued at $16,317,279.66. The trade was a 21.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,715 shares of company stock valued at $5,733,305 over the last quarter. Company insiders own 0.48% of the company's stock.

Institutional Investors Weigh In On First Solar

Institutional investors and hedge funds have recently made changes to their positions in the company. Garde Capital Inc. bought a new stake in shares of First Solar during the first quarter valued at approximately $25,000. Wealth Preservation Advisors LLC bought a new stake in shares of First Solar during the first quarter valued at approximately $25,000. TD Private Client Wealth LLC increased its position in shares of First Solar by 126.9% during the second quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer's stock valued at $25,000 after acquiring an additional 85 shares in the last quarter. Strategic Wealth Investment Group LLC bought a new stake in shares of First Solar during the second quarter valued at approximately $26,000. Finally, Harbor Investment Advisory LLC increased its position in shares of First Solar by 138.9% during the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 92.08% of the company's stock.

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.

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