JPMorgan Chase & Co. Forecasts Strong Price Appreciation for First Solar (NASDAQ:FSLR) Stock

First Solar (NASDAQ:FSLR) had its price objective increased by JPMorgan Chase & Co. from $241.00 to $262.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the solar cell manufacturer’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 23.30% from the stock’s previous close.

FSLR has been the topic of several other research reports. BMO Capital Markets boosted their price objective on First Solar from $194.00 to $203.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Royal Bank Of Canada boosted their price objective on First Solar from $188.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 1st. TD Cowen boosted their price objective on First Solar from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. UBS Group reissued a “buy” rating and issued a $275.00 price objective (up previously from $255.00) on shares of First Solar in a research report on Tuesday, August 5th. Finally, Guggenheim upped their price target on First Solar from $202.00 to $287.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $228.80.

First Solar Trading Up 1.4%

Shares of First Solar stock opened at $212.49 on Friday. The stock has a fifty day simple moving average of $191.68 and a 200 day simple moving average of $161.94. First Solar has a 12-month low of $116.56 and a 12-month high of $262.72. The company has a market capitalization of $22.79 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 0.42 and a beta of 1.41. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm earned $3.25 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, sell-side analysts anticipate that First Solar will post 13.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Patrick James Buehler sold 1,600 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total transaction of $288,000.00. Following the transaction, the insider directly owned 4,398 shares in the company, valued at approximately $791,640. This represents a 26.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Nathan B. Theurer sold 686 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale can be found here. Insiders have sold 32,315 shares of company stock worth $6,021,305 in the last ninety days. 0.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Solar

Several institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. increased its position in shares of First Solar by 200.1% during the 2nd quarter. Osaic Holdings Inc. now owns 33,171 shares of the solar cell manufacturer’s stock valued at $5,486,000 after purchasing an additional 22,116 shares during the last quarter. Total Investment Management Inc. bought a new position in shares of First Solar during the 2nd quarter valued at about $36,000. Centaurus Financial Inc. bought a new position in shares of First Solar during the 2nd quarter valued at about $104,000. Orion Porfolio Solutions LLC bought a new position in shares of First Solar during the 2nd quarter valued at about $557,000. Finally, Thrivent Financial for Lutherans boosted its holdings in First Solar by 93.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 8,493 shares of the solar cell manufacturer’s stock valued at $1,406,000 after acquiring an additional 4,110 shares during the period. 92.08% of the stock is currently owned by institutional investors.

About First Solar

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.