First Solar (NASDAQ:FSLR) Hits New 1-Year High on Analyst Upgrade

Shares of First Solar, Inc. (NASDAQ:FSLR) hit a new 52-week high during mid-day trading on Thursday after The Goldman Sachs Group raised their price target on the stock from $283.00 to $293.00. The Goldman Sachs Group currently has a buy rating on the stock. First Solar traded as high as $237.20 and last traded at $235.46, with a volume of 646100 shares changing hands. The stock had previously closed at $231.37.

FSLR has been the topic of several other research reports. Jefferies Financial Group boosted their price target on First Solar from $212.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Weiss Ratings restated a “hold (c)” rating on shares of First Solar in a research report on Saturday, September 27th. BMO Capital Markets boosted their price target on First Solar from $194.00 to $203.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. TD Cowen boosted their price target on First Solar from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on First Solar from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.04.

Insider Activity at First Solar

In related news, CEO Mark R. Widmar sold 23,912 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total value of $4,434,958.64. Following the sale, the chief executive officer owned 87,978 shares in the company, valued at $16,317,279.66. This represents a 21.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was 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 a total of 30,715 shares of company stock worth $5,733,305 in the last quarter. 0.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Solar

Institutional investors and hedge funds have recently modified their holdings of the company. Garde Capital Inc. acquired a new stake in shares of First Solar in the 1st quarter worth approximately $25,000. Wealth Preservation Advisors LLC acquired a new stake in shares of First Solar in the 1st quarter worth approximately $25,000. TD Private Client Wealth LLC grew its holdings in shares of First Solar by 126.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock worth $25,000 after acquiring an additional 85 shares during the period. Strategic Wealth Investment Group LLC acquired a new stake in shares of First Solar in the 2nd quarter worth approximately $26,000. Finally, Harbor Investment Advisory LLC grew its holdings in shares of First Solar by 138.9% in the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock worth $28,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Trading Up 1.3%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The business has a fifty day moving average of $205.26 and a two-hundred day moving average of $170.68. The firm has a market cap of $25.13 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 0.46 and a beta of 1.38.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company earned $3.25 EPS. First Solar’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. As a group, equities analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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.