First Solar (NASDAQ:FSLR) Price Target Raised to $231.00

Key Points

• HSBC raised First Solar's price target to $231 from $211 while maintaining a "hold" rating, implying roughly a 6.9% upside from the current share price.
• Quarterly results beat expectations: First Solar reported $3.22 EPS vs. $2.87 expected and $1.04B in revenue (up 23.6% year‑over‑year) with a 30.73% net margin.
• Notable insider selling—including the CEO and general counsel—and 76,562 shares (~$15.0M) sold in the last 90 days, while institutional investors own about 92.08% of the company.

First Solar (NASDAQ:FSLR - Get Free Report) had its target price hoisted by HSBC from $211.00 to $231.00 in a report issued on Tuesday,MarketScreener reports. The firm currently has a "hold" rating on the solar cell manufacturer's stock. HSBC's target price indicates a potential upside of 6.93% from the stock's current price.

A number of other research analysts have also recently issued reports on FSLR. JPMorgan Chase & Co. cut their price target on First Solar from $303.00 to $256.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. BMO Capital Markets dropped their target price on shares of First Solar from $252.00 to $237.00 and set a "market perform" rating for the company in a research note on Monday, April 20th. Guggenheim decreased their price target on shares of First Solar from $312.00 to $269.00 and set a "buy" rating on the stock in a research note on Tuesday, March 17th. Argus dropped their price objective on shares of First Solar from $300.00 to $250.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. Finally, Glj Research lowered First Solar from a "buy" rating to a "hold" rating and decreased their price objective for the company from $314.43 to $207.82 in a research report on Wednesday, March 4th. Eighteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $246.10.

First Solar Stock Up 2.2%

Shares of FSLR opened at $216.03 on Tuesday. The company has a market capitalization of $23.21 billion, a P/E ratio of 13.92, a PEG ratio of 0.48 and a beta of 1.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. First Solar has a one year low of $125.80 and a one year high of $285.99. The business's 50 day simple moving average is $198.46 and its 200-day simple moving average is $231.85.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the firm posted $1.95 EPS. The business's revenue was up 23.6% on a year-over-year basis. As a group, sell-side analysts predict that First Solar will post 17.33 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In other First Solar news, CEO Mark R. Widmar sold 1,937 shares of First Solar stock in a transaction on Monday, March 16th. The shares were sold at an average price of $200.80, for a total transaction of $388,949.60. Following the completion of the sale, the chief executive officer owned 102,798 shares of the company's stock, valued at approximately $20,641,838.40. The trade was a 1.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jason E. Dymbort sold 9,022 shares of the company's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $199.62, for a total transaction of $1,800,971.64. Following the sale, the general counsel owned 9,850 shares of the company's stock, valued at $1,966,257. The trade was a 47.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 76,562 shares of company stock valued at $15,042,232 over the last 90 days. Company insiders own 0.39% of the company's stock.

Institutional Investors Weigh In On First Solar

A number of institutional investors have recently made changes to their positions in FSLR. Norges Bank bought a new position in First Solar during the fourth quarter worth about $392,040,000. Viking Global Investors LP increased its stake in shares of First Solar by 60.6% in the 2nd 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 during the last quarter. Polar Capital Holdings Plc acquired a new stake in shares of First Solar in the 4th quarter valued at approximately $200,109,000. Lightrock Netherlands B.V. boosted its stake in First Solar by 2,663.8% during the 4th quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer's stock worth $174,059,000 after acquiring an additional 642,199 shares during the last quarter. Finally, Amundi boosted its stake in First Solar by 38.6% during the 3rd quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer's stock worth $459,917,000 after acquiring an additional 564,032 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Company Profile

First Solar, Inc NASDAQ: FSLR is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.

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