First Solar (NASDAQ:FSLR) Stock Price Expected to Rise, Daiwa Capital Markets Analyst Says

First Solar (NASDAQ:FSLR) had its price target raised by stock analysts at Daiwa Capital Markets from $215.00 to $284.00 in a report issued on Tuesday,MarketScreener reports. The firm presently has an “outperform” rating on the solar cell manufacturer’s stock. Daiwa Capital Markets’ price target would indicate a potential upside of 10.99% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Mizuho boosted their target price on First Solar from $278.00 to $335.00 in a research report on Friday, October 31st. Evercore ISI lifted their price target on First Solar from $240.90 to $241.00 in a research note on Friday, October 31st. Jefferies Financial Group set a $269.00 price objective on First Solar and gave the company a “buy” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. increased their target price on First Solar from $278.00 to $303.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, Wolfe Research increased their price target on First Solar from $232.00 to $247.00 in a research report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $270.30.

First Solar Stock Down 0.7%

Shares of NASDAQ:FSLR opened at $255.88 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $248.07 and a 200 day simple moving average of $204.94. First Solar has a 12-month low of $116.56 and a 12-month high of $281.55. The firm has a market cap of $27.46 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 0.50 and a beta of 1.59.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, October 30th. The solar cell manufacturer reported $4.24 EPS for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.56 billion. First Solar had a return on equity of 16.61% and a net margin of 27.73%.The firm’s quarterly revenue was up 79.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.91 EPS. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. On average, equities research analysts anticipate that First Solar will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling

In other First Solar news, Director Michael T. Sweeney sold 4,500 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $271.11, for a total transaction of $1,219,995.00. Following the transaction, the director directly owned 13,662 shares in the company, valued at $3,703,904.82. This represents a 24.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul H. Stebbins sold 7,000 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $262.40, for a total value of $1,836,800.00. Following the completion of the transaction, the director directly owned 15,287 shares in the company, valued at approximately $4,011,308.80. The trade was a 31.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 48,912 shares of company stock worth $12,971,349. 0.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FSLR. 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 increased its holdings in First Solar by 126.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock valued at $25,000 after acquiring an additional 85 shares in the last quarter. Strategic Wealth Investment Group LLC acquired a new stake in shares of First Solar during the second quarter valued at $26,000. Harbor Investment Advisory LLC raised its holdings in First Solar by 138.9% in the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock valued at $28,000 after acquiring an additional 100 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its stake in First Solar by 69.4% during the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock worth $30,000 after purchasing an additional 75 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.