First Solar (NASDAQ:FSLR) Stock Gets Price Target Cut from Needham & Company LLC

First Solar (NASDAQ:FSLR) had its price target cut by research analysts at Needham & Company LLC from $303.00 to $236.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the solar cell manufacturer’s stock. Needham & Company LLC‘s price target suggests a potential upside of 33.42% from the stock’s current price.

A number of other research firms also recently weighed in on FSLR. Glj Research reduced their target price on shares of First Solar from $315.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, September 22nd. Truist Financial upgraded First Solar from a “hold” rating to a “buy” rating and upped their price objective for the company from $229.00 to $270.00 in a research note on Monday, October 12th. BMO Capital Markets reissued an “outperform” rating and set a $255.00 price objective on shares of First Solar in a report on Friday. Citigroup downgraded First Solar from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. Finally, Deutsche Bank Aktiengesellschaft lowered First Solar from a “buy” rating to a “hold” rating in a research note on Thursday, August 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.87.

First Solar Trading Up 0.3%

FSLR opened at $176.89 on Friday. First Solar has a 1-year low of $165.86 and a 1-year high of $320.95. The company has a market cap of $19.01 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 0.48 and a beta of 1.80. The company’s fifty day moving average price is $189.51 and its two-hundred day moving average price is $216.51.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, October 29th. The solar cell manufacturer reported $5.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.63. First Solar had a net margin of 32.47% and a return on equity of 18.02%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the firm earned $4.24 EPS. The business’s revenue for the quarter was down 22.8% compared to the same quarter last year. As a group, equities analysts forecast that First Solar will post 17.63 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other First Solar news, CTO Markus Gloeckler sold 3,425 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $218.95, for a total value of $749,903.75. Following the completion of the sale, the chief technology officer directly owned 7,471 shares of the company’s stock, valued at $1,635,775.45. The trade was a 31.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Koralewski sold 7,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $221.51, for a total value of $1,550,570.00. Following the transaction, the insider directly owned 7,642 shares in the company, valued at $1,692,779.42. This trade represents a 47.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 16,681 shares of company stock worth $3,756,286 in the last 90 days. 0.39% of the stock is owned by company insiders.

Institutional Trading of First Solar

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in First Solar during the 2nd quarter valued at $3,310,298,000. Hill City Capital LP purchased a new position in shares of First Solar in the second quarter valued at about $620,133,555. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of First Solar by 7.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,535,836 shares of the solar cell manufacturer’s stock valued at $362,396,000 after acquiring an additional 100,694 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in First Solar by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,305,471 shares of the solar cell manufacturer’s stock worth $257,441,000 after buying an additional 56,300 shares during the period. Finally, Deutsche Bank AG bought a new position in shares of First Solar in the 2nd quarter worth approximately $212,626,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

More First Solar News

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

• Positive Sentiment: Q3 earnings exceeded expectations: First Solar reported adjusted earnings of $5.30 per share, above the approximately $4.64–$4.67 consensus and up from $4.24 a year earlier. Cost reductions and strong margins helped drive the 14% earnings beat. First Solar Tops Q3 Earnings Estimates
• Positive Sentiment: $500 million share-repurchase program: The buyback could support per-share results and signals management’s confidence in the company’s cash-generation outlook. First Solar Announces Third Quarter Results and Buyback
• Positive Sentiment: Technology and manufacturing expansion: First Solar signed a U.S. patent-licensing agreement with CubicPV covering perovskite technology, while its South Carolina facility began operations. The facility is expected to reach 3.4 gigawatts of annual capacity after its second phase is completed in 2027. These developments reinforce the company’s domestic manufacturing footprint and potential competitive moat. First Solar and CubicPV Patent Agreement
• Neutral Sentiment: Backlog remains a support: Analysts highlighted First Solar’s strong backlog and margins, but noted that elevated interest rates could pressure renewable-energy project financing and valuation multiples. Ariel Global Fund on First Solar
• Negative Sentiment: Revenue missed estimates and declined: Third-quarter revenue fell 22.8% year over year to $1.23 billion, below the $1.29 billion consensus. Full-year revenue guidance of $4.75 billion at the midpoint was also about 5.7% below analyst expectations, overshadowing the EPS beat and clouding the near-term outlook. First Solar Misses Q3 Sales Expectations

First Solar Company Profile

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.