Guggenheim Increases First Solar (NASDAQ:FSLR) Price Target to $287.00

Key Points

• Guggenheim has increased its price target for First Solar (NASDAQ:FSLR) from $202.00 to $287.00, suggesting a potential upside of 49.48% from the stock's previous close.
• The company recently reported earnings of $3.18 EPS, which exceeded analysts' expectations of $2.68, with revenue reaching $1.10 billion.
• First Solar has received a mix of ratings from various brokerages, with a consensus of a "Moderate Buy" and an average price target of $225.84.

First Solar (NASDAQ:FSLR - Get Free Report) had its price target boosted by equities research analysts at Guggenheim from $202.00 to $287.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the solar cell manufacturer's stock. Guggenheim's price objective would suggest a potential upside of 49.48% from the stock's previous close.

A number of other brokerages have also commented on FSLR. Oppenheimer lowered shares of First Solar from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 30th. Jefferies Financial Group set a $194.00 price objective on shares of First Solar and gave the company a "buy" rating in a research note on Tuesday, July 15th. The Goldman Sachs Group upped their price objective on shares of First Solar from $204.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, May 19th. UBS Group reaffirmed a "buy" rating and issued a $275.00 price objective (up previously from $255.00) on shares of First Solar in a research note on Tuesday, August 5th. Finally, Glj Research reaffirmed a "buy" rating and issued a $214.06 price objective (up previously from $172.53) on shares of First Solar in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $225.84.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $192.00 on Friday. The company's fifty day moving average price is $174.62 and its 200-day moving average price is $155.00. The firm has a market capitalization of $20.59 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 0.41 and a beta of 1.48. First Solar has a one year low of $116.56 and a one year high of $262.72. 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 issued its quarterly earnings results 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 analyst estimates of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, equities research analysts anticipate that First Solar will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total transaction of $466,877.71. Following the completion of the sale, the insider owned 11,369 shares of the company's stock, valued at $1,798,689.49. This represents a 20.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of the company'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. Insiders have sold a total of 46,691 shares of company stock worth $8,248,477 over the last ninety days. 0.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FSLR. Norges Bank bought a new position in First Solar in the 2nd quarter worth $212,621,000. Nuveen LLC bought a new position in First Solar in the 1st quarter worth $114,730,000. 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 worth $375,122,000 after acquiring an additional 854,919 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of First Solar by 16,857.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer's stock worth $95,965,000 after acquiring an additional 754,557 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of First Solar by 32.3% in the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock worth $306,909,000 after acquiring an additional 592,444 shares in the last quarter. 92.08% of the stock is currently owned by 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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