First Solar (NASDAQ:FSLR) Price Target Raised to $244.00

Key Points

• Royal Bank of Canada raised its price target for First Solar from $201.00 to $244.00, maintaining an "outperform" rating, indicating a potential upside of 4.30% from the previous close.
• First Solar reported a strong earnings performance, with $3.18 EPS for the quarter, surpassing the consensus estimate and showing an 8.6% increase in revenue year-over-year.
• The company has received predominantly positive analyst sentiment, with a consensus rating of "Moderate Buy" and a price target averaging $242.32 across various brokerages.

First Solar (NASDAQ:FSLR - Get Free Report) had its price target lifted by investment analysts at Royal Bank Of Canada from $201.00 to $244.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm presently has an "outperform" rating on the solar cell manufacturer's stock. Royal Bank Of Canada's target price suggests a potential upside of 4.30% from the company's previous close.

A number of other brokerages also recently weighed in on FSLR. Wall Street Zen raised First Solar from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Citigroup increased their price objective on First Solar from $198.00 to $300.00 and gave the company a "buy" rating in a research report on Tuesday, October 14th. TD Cowen upped their price objective on shares of First Solar from $220.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Susquehanna raised their price objective on First Solar from $222.00 to $273.00 and gave the stock a "positive" rating in a research report on Monday, October 13th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of First Solar in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, First Solar presently has a consensus rating of "Moderate Buy" and a consensus target price of $242.32.

First Solar Trading Down 1.6%

Shares of NASDAQ FSLR opened at $233.94 on Monday. The stock has a market cap of $25.09 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 0.44 and a beta of 1.38. The business has a 50 day simple moving average of $210.88 and a 200 day simple moving average of $175.58. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. First Solar has a 52 week low of $116.56 and a 52 week high of $248.04.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $3.25 earnings per share. The company's revenue for the quarter 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. On average, research analysts predict that First Solar will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In related news, CEO Mark R. Widmar sold 23,912 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 87,978 shares in the company, valued at approximately $16,317,279.66. This represents a 21.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Nathan B. Theurer sold 686 shares of the business's stock in a transaction dated 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 sold a total of 30,715 shares of company stock worth $5,733,305 over the last 90 days. 0.48% of the stock is owned by corporate insiders.

Institutional Trading of First Solar

Institutional investors have recently made changes to their positions in the business. Ethic Inc. boosted its stake in shares of First Solar by 0.3% during the 3rd quarter. Ethic Inc. now owns 20,443 shares of the solar cell manufacturer's stock worth $4,508,000 after acquiring an additional 59 shares during the period. Harvest Portfolios Group Inc. boosted its holdings in shares of First Solar by 3.9% during the 1st quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer's stock worth $210,000 after buying an additional 63 shares during the period. Legend Financial Advisors Inc. grew its position in shares of First Solar by 1.4% in the first quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer's stock valued at $598,000 after purchasing an additional 64 shares during the last quarter. Harrington Investments INC lifted its holdings in First Solar by 0.5% during the 2nd quarter. Harrington Investments INC now owns 13,278 shares of the solar cell manufacturer's stock worth $2,198,000 after purchasing an additional 65 shares during the last quarter. Finally, Penserra Capital Management LLC grew its holdings in First Solar by 13.4% in the 2nd quarter. Penserra Capital Management LLC now owns 560 shares of the solar cell manufacturer's stock valued at $92,000 after buying an additional 66 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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