Piper Sandler Cuts First Solar (NASDAQ:FSLR) Price Target to $251.00

First Solar (NASDAQ:FSLR) had its price target decreased by Piper Sandler from $260.00 to $251.00 in a report released on Wednesday, MarketBeat.com reports. Piper Sandler currently has an overweight rating on the solar cell manufacturer’s stock.

A number of other brokerages also recently weighed in on FSLR. Barclays boosted their price target on First Solar from $213.00 to $279.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft cut First Solar from a “buy” rating to a “hold” rating in a research note on Thursday, August 27th. HSBC raised shares of First Solar from a “hold” rating to a “buy” rating in a report on Friday, August 7th. UBS Group boosted their target price on shares of First Solar from $290.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Finally, Truist Financial reissued a “hold” rating and set a $229.00 target price (down from $249.00) on shares of First Solar in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.23.

First Solar Stock Performance

Shares of First Solar stock opened at $174.61 on Wednesday. First Solar has a 1 year low of $168.60 and a 1 year high of $320.95. The firm’s 50-day simple moving average is $207.55 and its 200-day simple moving average is $220.04. The firm has a market cap of $18.76 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 0.46 and a beta of 1.80.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $1.02. First Solar had a return on equity of 18.02% and a net margin of 32.47%.The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm earned $3.18 earnings per share. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, equities analysts predict that First Solar will post 17.64 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Michael Koralewski sold 7,000 shares of the company’s 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 completion of the transaction, the insider directly owned 7,642 shares in the company, valued at $1,692,779.42. This represents a 47.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Samantha Sloan sold 127 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $222.95, for a total value of $28,314.65. Following the completion of the sale, the executive vice president directly owned 2,018 shares in the company, valued at $449,913.10. This represents a 5.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 16,681 shares of company stock worth $3,756,286. 0.39% of the stock is owned by company insiders.

Institutional Trading of First Solar

A number of large investors have recently modified their holdings of FSLR. Commonwealth Retirement Investments LLC acquired a new position in First Solar during the 4th quarter valued at about $26,000. Reflection Asset Management bought a new stake in shares of First Solar during the fourth quarter valued at approximately $26,000. MV Capital Management Inc. bought a new stake in shares of First Solar during the fourth quarter valued at approximately $30,000. Clearstead Trust LLC acquired a new position in shares of First Solar during the second quarter worth approximately $34,000. Finally, Vega Investment Solutions acquired a new position in shares of First Solar during the second quarter worth approximately $40,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Trending Headlines about First Solar

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

• Positive Sentiment: Patent lawsuit could protect technology and pricing: First Solar sued JA Solar and American Panel Solutions, reportedly a Corning subsidiary, alleging infringement of its U.S. patent covering manufacturing methods for TOPCon solar cells. Successful enforcement could help protect First Solar’s intellectual property and competitive position. First Solar Files Patent Infringement Lawsuit Against JA Solar and American Panel Solutions
• Positive Sentiment: Potential earnings support: First Solar has a history of exceeding earnings expectations. Analysts are watching the upcoming report for evidence that strong execution and the company’s relatively low valuation can offset industry headwinds. Will First Solar Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Higher put-option activity signals caution: Traders purchased 31,358 put options, about 21% above average volume. This indicates increased hedging or bearish speculation ahead of earnings, but it does not necessarily represent a change in the company’s fundamentals.
• Negative Sentiment: Inventory and policy pressures remain significant: Elevated U.S. solar-panel inventories, slower utility-scale project starts, tight pricing, and a new 15% tariff on polysilicon derivatives are complicating supply-chain planning and could pressure margins or near-term demand. How Investors Are Reacting to First Solar Inventory Glut, New Tariffs and Slower Project Starts
• Negative Sentiment: Analyst target reduction adds pressure: Piper Sandler cut its price target for First Solar, reinforcing concerns about near-term industry conditions and the stock’s substantial decline from its 12-month high. First Solar Stock Price Target Cut by Piper Sandler

About First Solar

First Solar, Inc is a solar technology and manufacturing company that designs and produces photovoltaic (PV) solar modules for utility-scale power projects. Unlike conventional crystalline-silicon panels, its modules use thin-film semiconductor technology based on cadmium telluride (CdTe), which the company says can provide advantages in energy yield, temperature performance and lifecycle sustainability.

The company’s product portfolio includes its Series 6 and Series 7 thin-film solar modules, along with related services such as technical support, module recycling and end-of-life collection.