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

Key Points

• Wolfe Research raised its price target for First Solar (FSLR) from $209 to $232, indicating a potential 3.28% upside from the current stock price.
• Other analysts also adjusted their targets, with Susquehanna increasing its price target to $273 and TD Cowen to $240, reflecting a generally positive outlook on the stock.
• First Solar recently reported a quarterly EPS of $3.18, exceeding expectations and indicating a revenue growth of 8.6% compared to the previous year.

First Solar (NASDAQ:FSLR - Get Free Report) had its price objective hoisted by investment analysts at Wolfe Research from $209.00 to $232.00 in a report released on Wednesday,MarketScreener reports. The brokerage presently has an "outperform" rating on the solar cell manufacturer's stock. Wolfe Research's target price suggests a potential upside of 3.28% from the company's current price.

FSLR has been the topic of several other research reports. Susquehanna upped their price target on First Solar from $222.00 to $273.00 and gave the stock a "positive" rating in a report on Monday, October 13th. TD Cowen upped their target price on shares of First Solar from $220.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Wall Street Zen upgraded shares of First Solar from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. BMO Capital Markets boosted their price target on shares of First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, UBS Group reiterated a "buy" rating and set a $275.00 target price (up previously from $255.00) on shares of First Solar in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $244.43.

First Solar Trading Down 1.0%

Shares of FSLR stock opened at $224.64 on Wednesday. First Solar has a fifty-two week low of $116.56 and a fifty-two week high of $248.04. The company has a 50 day moving average price of $213.43 and a 200 day moving average price of $176.95. The stock has a market capitalization of $24.09 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 0.43 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.

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, beating 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 company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter last year, the company posted $3.25 EPS. The firm's 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. Equities research analysts predict that First Solar will post 13.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Nathan B. Theurer sold 686 shares of the firm'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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark R. Widmar sold 23,912 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the transaction, the chief executive officer directly owned 87,978 shares of the company's stock, valued at $16,317,279.66. This represents a 21.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,715 shares of company stock valued at $5,733,305. 0.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Wealth Preservation Advisors LLC acquired a new position in shares of First Solar during the 1st quarter worth $25,000. TD Private Client Wealth LLC increased its holdings 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 valued at $25,000 after buying an additional 85 shares in the last quarter. Strategic Wealth Investment Group LLC acquired a new stake in shares of First Solar during the 2nd quarter valued at approximately $26,000. Harbor Investment Advisory LLC boosted its stake 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. Finally, Hantz Financial Services Inc. increased its stake in First Solar by 69.4% in the 2nd quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer's stock valued at $30,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

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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