Seaport Global Securities Issues Positive Forecast for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its price target raised by Seaport Global Securities from $217.00 to $305.00 in a research report sent to investors on Tuesday,MarketScreener reports. Seaport Global Securities currently has a buy rating on the solar cell manufacturer’s stock.

A number of other equities analysts have also weighed in on FSLR. Bank of America lifted their price target on shares of First Solar from $209.00 to $254.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Wall Street Zen upgraded shares of First Solar from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Wells Fargo & Company lifted their price target on shares of First Solar from $213.00 to $270.00 in a report on Friday, October 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $273.00 price target on shares of First Solar in a report on Friday. Finally, Glj Research lifted their price target on shares of First Solar from $214.06 to $314.43 and gave the company a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $270.09.

First Solar Stock Up 2.8%

Shares of NASDAQ FSLR opened at $270.08 on Tuesday. First Solar has a 1 year low of $116.56 and a 1 year high of $275.08. The firm’s 50 day moving average price is $221.85 and its 200 day moving average price is $185.70. The firm has a market cap of $28.98 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 0.46 and a beta of 1.51. 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) last announced its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the business posted $2.91 EPS. The firm’s revenue was up 79.7% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, sell-side analysts anticipate that First Solar will post 13.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 23,912 shares of First Solar stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total transaction 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of First Solar 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 30,715 shares of company stock worth $5,733,305. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On First Solar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its position in shares of First Solar by 10.9% in the 1st quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer’s stock worth $3,216,000 after purchasing an additional 2,510 shares during the last quarter. Hunter Associates Investment Management LLC bought a new stake in shares of First Solar in the 1st quarter worth about $272,000. Raymond James Financial Inc. increased its position in shares of First Solar by 57.2% in the 1st quarter. Raymond James Financial Inc. now owns 43,991 shares of the solar cell manufacturer’s stock worth $5,562,000 after purchasing an additional 16,003 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. increased its position in shares of First Solar by 18.2% in the 1st quarter. Sumitomo Mitsui Financial Group Inc. now owns 101,659 shares of the solar cell manufacturer’s stock worth $12,853,000 after purchasing an additional 15,656 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of First Solar by 49.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,251 shares of the solar cell manufacturer’s stock valued at $10,471,000 after buying an additional 20,884 shares during the period. 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.