First Solar (NASDAQ:FSLR) Price Target Raised to $262.00

Key Points

• JPMorgan Chase & Co. raised its price target for First Solar from $241.00 to $262.00, indicating a potential upside of 22.45% from the stock's previous close.
• First Solar's recent quarterly earnings report showed $3.18 EPS, surpassing estimates and a revenue increase of 8.6% year-over-year.
• The stock has received a consensus rating of "Moderate Buy" from analysts, with a price target averaging around $228.80.

First Solar (NASDAQ:FSLR - Get Free Report) had its price target lifted by JPMorgan Chase & Co. from $241.00 to $262.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the solar cell manufacturer's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 23.30% from the company's previous close.

Several other brokerages have also weighed in on FSLR. Royal Bank Of Canada increased their price objective on shares of First Solar from $188.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. UBS Group reissued a "buy" rating and issued a $275.00 price objective (up from $255.00) on shares of First Solar in a research report on Tuesday, August 5th. Guggenheim increased their price objective on shares of First Solar from $202.00 to $287.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. Wall Street Zen raised shares of First Solar from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, BMO Capital Markets upped their price target on shares of First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $228.80.

First Solar Stock Performance

NASDAQ FSLR traded up $2.86 on Friday, hitting $212.49. 3,858,347 shares of the stock were exchanged, compared to its average volume of 2,023,652. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. The business's fifty day moving average is $191.68 and its 200 day moving average is $162.16. First Solar has a 52 week low of $116.56 and a 52 week high of $262.72. The company has a market capitalization of $22.79 billion, a PE ratio of 18.18, a P/E/G ratio of 0.42 and a beta of 1.40.

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

Insiders Place Their Bets

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 2,321 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $199.44, for a total transaction of $462,900.24. Following the sale, the chief executive officer owned 81,861 shares in the company, valued at $16,326,357.84. The trade was a 2.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,315 shares of company stock worth $6,021,305 over the last ninety days. Corporate insiders own 0.48% of the company's stock.

Institutional Investors Weigh In On First Solar

Several hedge funds have recently added to or reduced their stakes in FSLR. Lazard Asset Management LLC boosted its position in First Solar by 111.2% during the 4th quarter. Lazard Asset Management LLC now owns 526 shares of the solar cell manufacturer's stock worth $92,000 after buying an additional 277 shares during the period. Quantinno Capital Management LP lifted its position in shares of First Solar by 290.2% in the 4th quarter. Quantinno Capital Management LP now owns 8,494 shares of the solar cell manufacturer's stock worth $1,497,000 after purchasing an additional 6,317 shares during the period. Vident Advisory LLC increased its stake in shares of First Solar by 24.7% in the 4th quarter. Vident Advisory LLC now owns 3,324 shares of the solar cell manufacturer's stock valued at $586,000 after acquiring an additional 658 shares in the last quarter. Woodline Partners LP bought a new stake in shares of First Solar in the 4th quarter valued at $1,133,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in First Solar by 80.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 69,563 shares of the solar cell manufacturer's stock valued at $12,260,000 after purchasing an additional 30,995 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.