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

First Solar (NASDAQ:FSLR) had its target price hoisted by investment analysts at Wells Fargo & Company from $300.00 to $313.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the solar cell manufacturer’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 19.55% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Truist Financial reiterated a “hold” rating and set a $229.00 price target (down from $249.00) on shares of First Solar in a research report on Friday, July 31st. Guggenheim raised their price objective on First Solar from $279.00 to $282.00 and gave the company a “buy” rating in a research note on Monday. Citigroup lifted their price objective on First Solar from $294.00 to $297.00 and gave the stock a “buy” rating in a report on Monday. Oppenheimer restated a “market perform” rating on shares of First Solar in a research report on Friday, July 31st. Finally, Roth Capital reissued a “buy” rating and issued a $300.00 price objective on shares of First Solar in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $254.89.

First Solar Stock Performance

NASDAQ:FSLR opened at $261.82 on Friday. First Solar has a 1 year low of $176.47 and a 1 year high of $320.95. The stock has a fifty day moving average price of $242.13 and a two-hundred day moving average price of $225.09. The stock has a market capitalization of $28.13 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 0.52 and a beta of 1.75.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $1.02. First Solar had a net margin of 32.47% and a return on equity of 18.02%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the company posted $3.18 EPS. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, analysts predict that First Solar will post 17.75 EPS for the current year.

Insider Buying and Selling

In other First Solar news, insider Michael Koralewski sold 7,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $221.51, for a total transaction of $1,550,570.00. Following the transaction, the insider owned 7,642 shares of the company’s stock, valued at $1,692,779.42. This represents a 47.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark R. Widmar sold 9,926 shares of First Solar stock in a transaction on Monday, May 11th. The shares were sold at an average price of $233.21, for a total value of $2,314,842.46. Following the completion of the sale, the chief executive officer directly owned 95,148 shares of the company’s stock, valued at approximately $22,189,465.08. This represents a 9.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 38,505 shares of company stock worth $9,398,886 in the last three months. 0.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Solar

Institutional investors have recently bought and sold shares of the stock. Commonwealth Retirement Investments LLC acquired a new position in shares of First Solar in the 4th quarter valued at $26,000. Reflection Asset Management purchased a new position in shares of First Solar in the 4th quarter worth $26,000. Strategic Wealth Investment Group LLC purchased a new position in shares of First Solar in the 2nd quarter worth $26,000. Larson Financial Group LLC boosted its holdings in First Solar by 117.0% in the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new position in First Solar in the fourth quarter valued at $30,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting First Solar

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: The administration imposed a 15% tariff and minimum import-price requirements on polysilicon and downstream products under Section 232. The measures, scheduled to take effect December 4, could reduce pricing pressure from lower-cost imports and improve the competitive position of First Solar’s domestic manufacturing business. First Solar Shares Jump After Trump Introduces New Tariffs on Solar Imports
• Positive Sentiment: First Solar publicly supported the action, highlighting that Chinese producers control more than 90% of global polysilicon supply. Investors appear to view the policy as more favorable to First Solar than previously expected because the company primarily uses its proprietary cadmium-telluride technology and has a substantial U.S. manufacturing footprint. First Solar Applauds Comprehensive Section 232 Action
• Positive Sentiment: Wells Fargo raised its FSLR price target to $313 from $300 while maintaining an overweight rating, saying the tariff and price-floor policy could provide greater benefits than anticipated. The stock also cleared a technical buy point, adding momentum. First Solar Clears Aggressive Buy Point
• Neutral Sentiment: First Solar’s latest quarterly results exceeded expectations, with earnings of $3.92 per share versus the $2.90 consensus estimate on approximately $1.06 billion in revenue. However, revenue declined year over year, so investors remain focused on whether the company can sustain earnings growth and convert its contracted backlog.
• Negative Sentiment: Several law firms publicized a securities class-action lawsuit alleging inadequate disclosure of production underutilization, onshoring costs and related risks. The August 24 lead-plaintiff deadline could create legal and reputational overhang, although the allegations have not been proven. Pomerantz Class Action Announcement

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.