Wells Fargo & Company Forecasts Strong Price Appreciation for First Solar (NASDAQ:FSLR) Stock

First Solar (NASDAQ:FSLR) had its target price increased by equities researchers at Wells Fargo & Company from $270.00 to $285.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the solar cell manufacturer’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 8.87% from the stock’s current price.

FSLR has been the topic of several other reports. Susquehanna upped their price objective on First Solar from $273.00 to $285.00 in a research note on Friday, October 31st. Citigroup boosted their price target on First Solar from $198.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. DZ Bank lowered First Solar from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. Rothschild & Co Redburn lifted their price objective on First Solar from $150.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Finally, KeyCorp restated an “overweight” rating on shares of First Solar in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $271.27.

First Solar Trading Up 3.1%

Shares of First Solar stock opened at $261.79 on Friday. First Solar has a 52-week low of $116.56 and a 52-week high of $281.55. The firm has a market capitalization of $28.09 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 0.50 and a beta of 1.59. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.55. The company’s fifty day moving average price is $252.93 and its two-hundred day moving average price is $209.93.

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

Insider Buying and Selling at First Solar

In related news, Director Paul H. Stebbins sold 7,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 15,287 shares of the company’s stock, valued at $4,011,308.80. This trade represents a 31.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael T. Sweeney sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $271.11, for a total transaction of $1,219,995.00. Following the completion of the transaction, the director owned 13,662 shares of the company’s stock, valued at $3,703,904.82. This trade represents a 24.78% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 48,912 shares of company stock worth $12,971,349. 0.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Solar

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Linden Thomas Advisory Services LLC increased its stake in shares of First Solar by 1.7% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock valued at $504,000 after acquiring an additional 39 shares during the last quarter. Signaturefd LLC boosted its stake in First Solar by 2.6% during the 3rd quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer’s stock worth $414,000 after acquiring an additional 47 shares during the last quarter. Figure 8 Investment Strategies LLC grew its holdings in First Solar by 0.6% during the third quarter. Figure 8 Investment Strategies LLC now owns 8,116 shares of the solar cell manufacturer’s stock valued at $1,790,000 after purchasing an additional 48 shares during the period. Rathbones Group PLC increased its stake in First Solar by 1.0% in the third quarter. Rathbones Group PLC now owns 4,930 shares of the solar cell manufacturer’s stock valued at $1,087,000 after purchasing an additional 51 shares in the last quarter. Finally, Allworth Financial LP increased its stake in First Solar by 5.9% in the third quarter. Allworth Financial LP now owns 956 shares of the solar cell manufacturer’s stock valued at $211,000 after purchasing an additional 53 shares in 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.