First Solar (NASDAQ:FSLR) Price Target Raised to $260.00

First Solar (NASDAQ:FSLR) had its price objective lifted by Rothschild & Co Redburn from $150.00 to $260.00 in a research report report published on Thursday morning,MarketScreener reports. Rothschild & Co Redburn currently has a neutral rating on the solar cell manufacturer’s stock.

Other equities research analysts have also recently issued research reports about the stock. Barclays reissued an “overweight” rating and set a $279.00 target price on shares of First Solar in a research report on Monday, November 3rd. Susquehanna lifted their target price on shares of First Solar from $273.00 to $285.00 in a research note on Friday, October 31st. BMO Capital Markets reiterated an “outperform” rating and set a $273.00 price target on shares of First Solar in a research note on Friday, October 31st. Guggenheim increased their price objective on shares of First Solar from $287.00 to $289.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, Roth Capital set a $300.00 target price on First Solar in a report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $269.79.

First Solar Trading Down 1.4%

Shares of NASDAQ FSLR opened at $253.08 on Thursday. First Solar has a 1-year low of $116.56 and a 1-year high of $281.55. The business has a fifty day moving average price of $232.81 and a 200 day moving average price of $192.69. The stock has a market capitalization of $27.16 billion, a P/E ratio of 21.65, 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 current ratio of 1.90 and a quick ratio of 1.41.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.32 by ($0.08). The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.56 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 79.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.91 EPS. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. Equities research analysts expect that First Solar will post 13.05 EPS for the current fiscal year.

Insider Activity

In related news, Director Paul H. Stebbins sold 7,000 shares of First Solar stock in a transaction on Friday, November 7th. The shares were sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the sale, the director directly owned 15,287 shares in the company, valued at $4,011,308.80. This trade represents a 31.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Georges Antoun sold 37,412 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $265.01, for a total value of $9,914,554.12. Following the completion of the sale, the insider directly owned 15,424 shares of the company’s stock, valued at $4,087,514.24. The trade was a 70.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 48,912 shares of company stock valued at $12,971,349. Company insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On First Solar

Hedge funds have recently made changes to their positions in the business. SFE Investment Counsel increased its position in shares of First Solar by 9.1% in the second quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer’s stock valued at $11,556,000 after buying an additional 5,852 shares in the last quarter. Cetera Investment Advisers boosted 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 buying an additional 2,510 shares in the last quarter. Raymond James Financial Inc. grew its stake in 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 valued at $5,562,000 after acquiring an additional 16,003 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. increased its holdings in First Solar by 18.2% during the 1st quarter. Sumitomo Mitsui Financial Group Inc. now owns 101,659 shares of the solar cell manufacturer’s stock valued at $12,853,000 after acquiring an additional 15,656 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in First Solar during the second quarter worth about $1,323,000. Institutional investors and hedge funds 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.