First Solar (NASDAQ:FSLR) Given New $264.00 Price Target at Robert W. Baird

Key Points

• First Solar's price target was raised from $240.00 to $264.00 by Robert W. Baird, indicating a potential upside of 16.86% from its current price.
• The stock currently has an average rating of "Moderate Buy" with a consensus target price of $234.04, supported by ratings from multiple research firms.
• First Solar's recent earnings report showed an EPS of $3.18, exceeding estimates by $0.50, with revenue totaling $1.10 billion for the quarter.

First Solar (NASDAQ:FSLR - Get Free Report) had its target price upped by stock analysts at Robert W. Baird from $240.00 to $264.00 in a report issued on Monday,MarketScreener reports. The firm currently has an "outperform" rating on the solar cell manufacturer's stock. Robert W. Baird's target price indicates a potential upside of 16.86% from the company's current price.

Several other research firms have also recently weighed in on FSLR. Evercore ISI initiated coverage on First Solar in a research note on Monday, October 6th. They set an "in-line" rating and a $240.00 target price for the company. TD Cowen increased their price objective on First Solar from $220.00 to $240.00 and gave the company a "buy" rating in a report on Friday, September 12th. Mizuho lifted 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. The Goldman Sachs Group increased their price target on First Solar from $283.00 to $293.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. Finally, BMO Capital Markets raised their price objective on First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $234.04.

First Solar Stock Down 3.6%

First Solar stock opened at $225.91 on Monday. First Solar has a twelve month low of $116.56 and a twelve month high of $237.20. The company's 50-day moving average price is $206.10 and its two-hundred day moving average price is $171.96. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The stock has a market cap of $24.23 billion, a P/E ratio of 19.33, a P/E/G ratio of 0.45 and a beta of 1.38.

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 the consensus estimate of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the firm earned $3.25 EPS. The business's quarterly revenue was up 8.6% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, analysts expect that First Solar will post 13.05 EPS for the current year.

Insider Activity

In related news, CEO Mark R. Widmar sold 2,321 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $199.44, for a total transaction of $462,900.24. Following the completion of the sale, the chief executive officer owned 81,861 shares of the company's stock, valued at $16,326,357.84. This trade represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of First Solar 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. In the last 90 days, insiders have sold 30,715 shares of company stock worth $5,733,305. 0.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FSLR. Norges Bank acquired a new position in First Solar during the 2nd quarter worth approximately $212,621,000. Nuveen LLC acquired a new stake in First Solar in the first quarter valued at approximately $114,730,000. Viking Global Investors LP increased its holdings in shares of First Solar by 60.6% during the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer's stock valued at $375,122,000 after acquiring an additional 854,919 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of First Solar by 16,857.8% during the first quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer's stock worth $95,965,000 after purchasing an additional 754,557 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of First Solar by 32.3% in the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock worth $306,909,000 after purchasing an additional 592,444 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

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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