The Goldman Sachs Group Forecasts Strong Price Appreciation for First Solar (NASDAQ:FSLR) Stock

Key Points

• Goldman Sachs has increased its price target for First Solar (NASDAQ:FSLR) from $283.00 to $293.00, indicating a potential upside of 28.57% from the current stock price and maintaining a "buy" rating.
• First Solar recently reported earnings of $3.18 per share, exceeding the consensus estimate by $0.50, with revenue of $1.10 billion for the quarter, marking an 8.6% increase year-over-year.
• Institutional investors now own 92.08% of First Solar's stock, highlighting significant interest from major investment entities.

First Solar (NASDAQ:FSLR - Get Free Report) had its price objective hoisted by research analysts at The Goldman Sachs Group from $283.00 to $293.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage presently has a "buy" rating on the solar cell manufacturer's stock. The Goldman Sachs Group's price objective suggests a potential upside of 28.57% from the stock's current price.

FSLR has been the topic of a number of other reports. Mizuho raised their price target on First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Hsbc Global Res raised shares of First Solar to a "strong-buy" rating in a report on Friday, August 1st. UBS Group reaffirmed a "buy" rating and issued a $275.00 target price (up from $255.00) on shares of First Solar in a research report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their price objective on First Solar from $241.00 to $262.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Finally, Bank of America raised their target price on shares of First Solar from $185.00 to $201.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Two equities research 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $231.04.

First Solar Stock Performance

FSLR opened at $227.89 on Wednesday. The stock has a market cap of $24.44 billion, a P/E ratio of 19.49, a P/E/G ratio of 0.46 and a beta of 1.38. First Solar has a 1-year low of $116.56 and a 1-year high of $235.87. The stock's 50 day simple moving average is $203.02 and its 200 day simple moving average is $169.53. 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 posted its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.50. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, equities analysts anticipate 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 2,321 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $199.44, for a total value of $462,900.24. Following the completion of the sale, the chief executive officer owned 81,861 shares of the company's stock, valued at $16,326,357.84. The trade was a 2.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was 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. Over the last quarter, insiders have sold 30,715 shares of company stock valued at $5,733,305. 0.48% of the stock is owned by corporate insiders.

Institutional Trading of First Solar

A number of hedge funds have recently modified their holdings of the company. Cetera Investment Advisers boosted its stake in First Solar by 10.9% in the 1st quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer's stock valued at $3,216,000 after buying an additional 2,510 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of First Solar by 396.5% during the first quarter. Oppenheimer & Co. Inc. now owns 11,777 shares of the solar cell manufacturer's stock valued at $1,489,000 after acquiring an additional 9,405 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of First Solar by 7.1% during the first quarter. Asset Management One Co. Ltd. now owns 48,722 shares of the solar cell manufacturer's stock worth $6,160,000 after buying an additional 3,226 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of First Solar by 14.2% in the 1st quarter. Vontobel Holding Ltd. now owns 189,320 shares of the solar cell manufacturer's stock worth $23,936,000 after purchasing an additional 23,528 shares during the last quarter. Finally, Oakworth Capital Inc. increased its stake in shares of First Solar by 24.7% in the 1st quarter. Oakworth Capital Inc. now owns 9,682 shares of the solar cell manufacturer's stock valued at $1,224,000 after acquiring an additional 1,916 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.