First Solar, Inc. (NASDAQ:FSLR) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• First Solar, Inc. has received an average recommendation of "Moderate Buy" from thirty brokerages, with an average target price of approximately $236.60.
• Recent analyst upgrades include a "strong buy" rating from HSBC Global Research and target price increases from BMO Capital Markets and Royal Bank of Canada.
• First Solar reported an EPS of $3.18 in its latest quarterly earnings, surpassing estimates, with a revenue of $1.10 billion, indicating an 8.6% year-over-year growth.

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) has earned an average recommendation of "Moderate Buy" from the thirty brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $236.6024.

A number of analysts have commented on FSLR shares. Hsbc Global Res upgraded First Solar to a "strong-buy" rating in a research report on Friday, August 1st. BMO Capital Markets raised their target price on First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Royal Bank Of Canada raised their target price on First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. raised their target price on First Solar from $241.00 to $262.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. Finally, Guggenheim raised their target price on First Solar from $202.00 to $287.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd.

Insider Activity at First Solar

In related news, CAO Nathan B. Theurer sold 686 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total transaction of $124,872.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 23,912 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total value 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. This trade represents a 21.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,715 shares of company stock valued at $5,733,305 in the last 90 days. 0.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Solar

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Focus Financial Network Inc. acquired a new stake in First Solar during the 3rd quarter valued at $224,000. Secure Asset Management LLC increased its holdings in First Solar by 7.1% during the 3rd quarter. Secure Asset Management LLC now owns 17,467 shares of the solar cell manufacturer's stock valued at $3,927,000 after purchasing an additional 1,151 shares in the last quarter. L. Roy Papp & Associates LLP increased its holdings in First Solar by 12.0% during the 3rd quarter. L. Roy Papp & Associates LLP now owns 2,537 shares of the solar cell manufacturer's stock valued at $559,000 after purchasing an additional 272 shares in the last quarter. Toth Financial Advisory Corp increased its holdings in First Solar by 2,263.2% during the 3rd quarter. Toth Financial Advisory Corp now owns 4,490 shares of the solar cell manufacturer's stock valued at $990,000 after purchasing an additional 4,300 shares in the last quarter. Finally, Board of the Pension Protection Fund acquired a new stake in First Solar during the 3rd quarter valued at $816,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Price Performance

Shares of FSLR stock opened at $224.43 on Wednesday. The stock has a 50 day moving average of $207.70 and a two-hundred day moving average of $173.01. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. First Solar has a 12 month low of $116.56 and a 12 month high of $237.20. The company has a market capitalization of $24.07 billion, a P/E ratio of 19.20, a P/E/G ratio of 0.45 and a beta of 1.38.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $3.25 EPS. The company's quarterly 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, equities analysts expect that First Solar will post 13.05 EPS for the current year.

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.

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