First Solar (NASDAQ:FSLR) Price Target Raised to $254.00 at Bank of America

Key Points

• Bank of America has raised its price target for First Solar (NASDAQ:FSLR) from $209.00 to $254.00, suggesting a potential upside of 13.18% from its current price.
• Analysts show a generally positive outlook with twenty-three Buy ratings and a consensus target price of $238.72 for the stock.
• First Solar reported strong earnings recently, with a quarterly EPS of $3.18, exceeding expectations and reflecting an annual revenue growth of 8.6%.

First Solar (NASDAQ:FSLR - Get Free Report) had its target price raised by stock analysts at Bank of America from $209.00 to $254.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the solar cell manufacturer's stock. Bank of America's price objective indicates a potential upside of 13.18% from the company's current price.

FSLR has been the subject of a number of other research reports. Weiss Ratings reissued a "hold (c)" rating on shares of First Solar in a report on Wednesday, October 8th. Royal Bank Of Canada upped their price objective on First Solar from $188.00 to $200.00 and gave the company an "outperform" rating in a 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 note on Friday, September 19th. Citigroup upped their price target on First Solar from $198.00 to $300.00 and gave the company a "buy" rating in a research note on Tuesday. 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 analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $238.72.

First Solar Trading Down 0.8%

Shares of First Solar stock opened at $224.43 on Wednesday. The stock has a market cap 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. The stock's 50 day simple moving average is $207.70 and its 200-day simple moving average is $173.01. First Solar has a 1-year low of $116.56 and a 1-year high of $237.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41.

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. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm's revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Analysts predict that First Solar will post 13.05 EPS for the current fiscal year.

Insider Activity at First Solar

In other First Solar news, CEO Mark R. Widmar sold 23,912 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total value of $4,434,958.64. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Nathan B. Theurer sold 686 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total transaction of $124,872.58. The disclosure for this sale can be found here. In the last three months, insiders sold 30,715 shares of company stock valued at $5,733,305. Insiders own 0.48% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. TD Private Client Wealth LLC raised its position in First Solar by 126.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer's stock valued at $25,000 after purchasing an additional 85 shares in the last quarter. Strategic Wealth Investment Group LLC acquired a new stake in First Solar in the second quarter valued at approximately $26,000. Harbor Investment Advisory LLC raised its holdings 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 valued at $28,000 after acquiring an additional 100 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in First Solar by 69.4% in the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer's stock worth $30,000 after acquiring an additional 75 shares during the last quarter. Finally, Garde Capital Inc. acquired a new position in First Solar during the 1st quarter worth approximately $25,000. 92.08% of the stock is owned by institutional investors and hedge funds.

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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