Susquehanna Issues Positive Forecast for First Solar (NASDAQ:FSLR) Stock Price

Key Points

• Susquehanna analysts raised their price target for First Solar (FSLR) stock from $222.00 to $273.00, indicating a potential upside of 20.84% from its previous close.
• JPMorgan Chase & Co. and Deutsche Bank also increased their price targets to $262.00 and $255.00, respectively, showcasing a strong positive outlook for the stock in the near future.
• First Solar reported an earnings per share (EPS) of $3.18 for the last quarter, significantly exceeding analysts' expectations and reflecting an 8.6% year-over-year revenue growth.

First Solar (NASDAQ:FSLR - Get Free Report) had its price objective upped by research analysts at Susquehanna from $222.00 to $273.00 in a report issued on Monday,Benzinga reports. The firm currently has a "positive" rating on the solar cell manufacturer's stock. Susquehanna's price target would suggest a potential upside of 20.84% from the company's previous close.

Several other research analysts have also recently issued reports on FSLR. JPMorgan Chase & Co. raised their price objective on First Solar from $241.00 to $262.00 and gave the stock an "overweight" rating in a research note on Friday, September 19th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of First Solar from $225.00 to $255.00 and gave the company a "buy" rating in a report on Wednesday, October 1st. Evercore ISI initiated coverage on shares of First Solar in a research report on Monday, October 6th. They set an "in-line" rating and a $240.00 target price for the company. BMO Capital Markets lifted their price objective on First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, Glj Research reaffirmed a "buy" rating and issued a $214.06 price target (up previously from $172.53) on shares of First Solar in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $233.08.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $225.91 on Monday. First Solar has a fifty-two week low of $116.56 and a fifty-two week high of $237.20. The company has a market cap of $24.23 billion, a PE ratio of 19.33, a P/E/G ratio of 0.45 and a beta of 1.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The business has a 50-day simple moving average of $206.10 and a two-hundred day simple moving average of $171.96.

First Solar (NASDAQ:FSLR - Get Free Report) last released its 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 company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. First Solar's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the business earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, equities analysts expect that First Solar will post 13.05 EPS for the current fiscal year.

Insider Activity

In other First Solar news, CEO Mark R. Widmar sold 23,912 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total value of $4,434,958.64. Following the sale, the chief executive officer owned 87,978 shares of the company's stock, valued at $16,317,279.66. The trade was a 21.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Nathan B. Theurer sold 686 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,715 shares of company stock valued at $5,733,305. 0.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FSLR. Garde Capital Inc. acquired a new stake in shares of First Solar in the first quarter valued at $25,000. Wealth Preservation Advisors LLC acquired a new stake in First Solar in the first quarter valued at approximately $25,000. TD Private Client Wealth LLC lifted its stake in First Solar by 126.9% in the second quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer's stock worth $25,000 after acquiring an additional 85 shares during the last quarter. Strategic Wealth Investment Group LLC acquired a new position in shares of First Solar during the second quarter worth $26,000. Finally, Harbor Investment Advisory LLC boosted its position in shares of First Solar by 138.9% during the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

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.

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