First Solar, Inc. (NASDAQ:FSLR) Receives $228.80 Average Price Target from Analysts

Key Points

• First Solar, Inc. has received a consensus rating of "Moderate Buy" from 28 analysts, with an average twelve-month price target of $228.80.
• Recent analyst upgrades include Mizuho raising the target price to $278.00 and Guggenheim increasing it to $287.00, reflecting positive sentiment around the company.
• Insider transactions have seen CEO Mark R. Widmar sell shares valued at around $462,900, contributing to a total of 32,315 shares sold by insiders in the last three months.

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) has received an average recommendation of "Moderate Buy" from the twenty-eight research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, twenty-two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $228.8024.

A number of equities analysts have issued reports on FSLR shares. Guggenheim upped their target price on First Solar from $202.00 to $287.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Mizuho upped their target price on First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. UBS Group reaffirmed a "buy" rating and issued a $275.00 target price (up previously from $255.00) on shares of First Solar in a report on Tuesday, August 5th. Royal Bank Of Canada increased their price target on First Solar from $188.00 to $200.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. increased their price target on First Solar from $241.00 to $262.00 and gave the company an "overweight" rating in a research note on Friday.

Insider Activity at First Solar

In related news, CEO Mark R. Widmar sold 2,321 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $199.44, for a total transaction of $462,900.24. Following the sale, the chief executive officer owned 81,861 shares in the company, valued at $16,326,357.84. This represents a 2.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale can be found here. Insiders have sold a total of 32,315 shares of company stock worth $6,021,305 in the last 90 days. Corporate insiders own 0.48% of the company's stock.

Institutional Trading of First Solar

A number of institutional investors and hedge funds have recently modified their holdings of FSLR. Garde Capital Inc. purchased a new stake in shares of First Solar during the first quarter valued at approximately $25,000. Wealth Preservation Advisors LLC purchased 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 during the last quarter. Strategic Wealth Investment Group LLC purchased a new stake in First Solar in the second quarter worth $26,000. Finally, Harbor Investment Advisory LLC increased its position in First Solar by 138.9% in the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock worth $28,000 after buying an additional 100 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

Shares of NASDAQ:FSLR traded up $2.86 during trading on Friday, reaching $212.49. 3,858,347 shares of the company traded hands, compared to its average volume of 2,052,274. The company's 50 day moving average is $191.68 and its two-hundred day moving average is $161.94. The firm has a market capitalization of $22.79 billion, a PE ratio of 18.18, a PEG ratio of 0.42 and a beta of 1.41. 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 $262.72.

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