First Solar's (FSLR) "Buy" Rating Reiterated at Roth Capital

Key Points

• Roth Capital reiterated its Buy rating on First Solar and kept a $300 price target, implying about 47% upside from the prior close.
• Several other analysts remain bullish, including price-target increases from Goldman Sachs, UBS, Argus, and Wells Fargo; MarketBeat shows an average rating of Moderate Buy with a consensus target of $257.10.
• First Solar shares were down 1.1% to $203.67 on Friday, while the company recently reported better-than-expected quarterly earnings of $3.22 per share on revenue of $1.04 billion.

First Solar (NASDAQ:FSLR - Get Free Report)'s stock had its "buy" rating reissued by Roth Capital in a note issued to investors on Friday,Benzinga reports. They currently have a $300.00 price objective on the solar cell manufacturer's stock. Roth Capital's target price suggests a potential upside of 47.29% from the stock's previous close.

A number of other equities analysts also recently weighed in on the company. The Goldman Sachs Group boosted their price target on First Solar from $300.00 to $310.00 in a research report on Friday, May 1st. UBS Group lifted their target price on First Solar from $290.00 to $330.00 and gave the stock a "buy" rating in a research note on Thursday, June 11th. Argus increased their price target on First Solar from $250.00 to $275.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. Wells Fargo & Company raised their price target on First Solar from $255.00 to $320.00 and gave the company an "overweight" rating in a report on Monday, July 6th. Finally, Citigroup reiterated a "buy" rating on shares of First Solar in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, First Solar currently has an average rating of "Moderate Buy" and a consensus target price of $257.10.

First Solar Stock Down 1.1%

FSLR traded down $2.25 during trading on Friday, reaching $203.67. 440,522 shares of the stock were exchanged, compared to its average volume of 2,360,937. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. The stock's 50 day moving average price is $249.20 and its two-hundred day moving average price is $227.09. First Solar has a twelve month low of $171.99 and a twelve month high of $320.95. The stock has a market cap of $21.88 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 0.46 and a beta of 1.73.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The company's revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.95 earnings per share. Equities analysts expect that First Solar will post 17.54 EPS for the current year.

Insider Activity

In other First Solar news, CFO Alexander R. Bradley sold 498 shares of First Solar stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $107,383.74. Following the completion of the sale, the chief financial officer owned 30,712 shares in the company, valued at $6,622,428.56. The trade was a 1.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mark R. Widmar sold 9,926 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $233.21, for a total transaction of $2,314,842.46. Following the completion of the sale, the chief executive officer directly owned 95,148 shares of the company's stock, valued at $22,189,465.08. This represents a 9.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 31,893 shares of company stock worth $7,893,775. Corporate insiders own 0.39% of the company's stock.

Institutional Investors Weigh In On First Solar

Institutional investors have recently made changes to their positions in the stock. Apollon Wealth Management LLC raised its holdings in First Solar by 1.2% in the 4th quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer's stock valued at $942,000 after acquiring an additional 44 shares in the last quarter. Root Financial Partners LLC lifted its position in First Solar by 18.2% during the fourth quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer's stock worth $76,000 after purchasing an additional 45 shares during the period. Fiduciary Financial Group LLC grew its stake in First Solar by 2.3% during the second quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the solar cell manufacturer's stock worth $478,000 after buying an additional 45 shares in the last quarter. FIL Ltd increased its holdings in First Solar by 6.9% in the 4th quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer's stock valued at $185,000 after buying an additional 46 shares during the period. Finally, Fielder Capital Group LLC increased its holdings in First Solar by 4.1% in the 4th quarter. Fielder Capital Group LLC now owns 1,196 shares of the solar cell manufacturer's stock valued at $312,000 after buying an additional 47 shares during the period. 92.08% of the stock is currently owned by institutional investors.

Key Stories Impacting First Solar

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: Solar industry sentiment remains constructive after reports that U.S. solar farm output hit a record high, supported by rising electricity demand from AI data centers, which could improve the long-term backdrop for First Solar. US Solar Power Just Hit a Record High as AI Data Centers Push Electricity Demand to New Highs
• Positive Sentiment: Analyst commentary continues to frame First Solar as a potential earnings-beat candidate, and TD Cowen recently reiterated a Buy rating, helping offset some of the legal overhang. First Solar (FSLR) Expected to Beat Earnings Estimates: Should You Buy? First Solar (FSLR) Gets a Buy from TD Cowen
• Neutral Sentiment: Recent market pieces note FSLR has been volatile versus the broader market, reflecting mixed trading rather than a clear change in business fundamentals. Here's Why First Solar (FSLR) Fell More Than Broader Market
• Negative Sentiment: Several firms, including The Gross Law Firm, Schall, Kaplan Fox, Faruqi & Faruqi, Rosen, Pomerantz, and others, are pushing the August 24 lead-plaintiff deadline in a securities-fraud class action against First Solar, increasing legal uncertainty and potential distraction for management. FSLR DEADLINE: The Gross Law Firm Reminds First Solar, Inc. Investors of Upcoming Securities Class Action Deadline
• Negative Sentiment: The lawsuit alleges First Solar and certain officers violated federal securities laws during the class period, which can weigh on sentiment even before any court outcome. Pomerantz Law Firm Announces the Filing of a Class Action Against First Solar, Inc. and Certain Officers - FSLR

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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