First Solar (NASDAQ:FSLR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. raised its price target for First Solar from $262.00 to $278.00, indicating a potential upside of 14.42% from the current stock price.
• Several analysts have upgraded First Solar's ratings, with two analysts giving it a Strong Buy rating and a consensus rating of "Moderate Buy."
• First Solar reported a quarterly EPS of $3.18, exceeding expectations, and has set FY 2025 guidance at 13.500-16.500 EPS.

First Solar (NASDAQ:FSLR - Get Free Report) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $262.00 to $278.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm presently has an "overweight" rating on the solar cell manufacturer's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 14.42% from the company's current price.

Other research analysts have also issued research reports about the company. Robert W. Baird boosted their target price on First Solar from $240.00 to $264.00 and gave the company an "outperform" rating in a research report on Monday. Hsbc Global Res upgraded First Solar to a "strong-buy" rating in a research note on Friday, August 1st. Bank of America lifted their target price on First Solar from $209.00 to $254.00 and gave the stock a "buy" rating in a research report on Wednesday. UBS Group reaffirmed a "buy" rating and issued a $275.00 price target (up previously from $255.00) on shares of First Solar in a research note on Tuesday, August 5th. Finally, TD Cowen boosted 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. 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 given a Sell rating to the stock. Based on data from MarketBeat, First Solar currently has a consensus rating of "Moderate Buy" and an average price target of $239.36.

First Solar Stock Performance

Shares of NASDAQ:FSLR opened at $242.97 on Thursday. The firm has a fifty day simple moving average of $208.89 and a two-hundred day simple moving average of $173.50. First Solar has a 52 week low of $116.56 and a 52 week high of $248.04. 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 capitalization of $26.06 billion, a P/E ratio of 20.91, a PEG ratio of 0.45 and a beta of 1.38.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm earned $3.25 EPS. The firm'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, analysts expect that First Solar will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Mark R. Widmar sold 23,912 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the transaction, the chief executive officer owned 87,978 shares in the company, valued at $16,317,279.66. This represents a 21.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction of $124,872.58. The disclosure for this sale can be found here. Insiders have sold a total of 30,715 shares of company stock worth $5,733,305 over the last ninety days. 0.48% of the stock is currently owned by corporate insiders.

Institutional Trading of First Solar

Several large investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in First Solar during the second quarter worth about $212,621,000. Nuveen LLC purchased a new position in shares of First Solar during the 1st quarter valued at approximately $114,730,000. Viking Global Investors LP lifted 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 purchasing an additional 854,919 shares during the period. Canada Pension Plan Investment Board grew its position in 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 valued at $95,965,000 after buying an additional 754,557 shares during the period. Finally, Invesco Ltd. grew its position in First Solar by 32.3% during the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock valued at $306,909,000 after buying an additional 592,444 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

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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