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

First Solar (NASDAQ:FSLR) had its price objective upped by analysts at JPMorgan Chase & Co. from $262.00 to $278.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm presently has an “overweight” rating on the solar cell manufacturer’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 19.91% from the company’s previous close.

Several other research firms also recently issued reports on FSLR. Weiss Ratings restated a “hold (c)” rating on shares of First Solar in a research note on Wednesday, October 8th. Bank of America boosted their price target on First Solar from $209.00 to $254.00 and gave the company a “buy” rating in a research note on Wednesday. Guggenheim boosted their price target on First Solar from $202.00 to $287.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. 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 note on Wednesday, October 1st. Finally, Mizuho boosted their price target on First Solar from $275.00 to $278.00 and gave the company an “outperform” rating in a research note on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $240.56.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $231.85 on Thursday. 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 has a 12 month low of $116.56 and a 12 month high of $248.04. The stock has a 50 day moving average of $210.88 and a 200-day moving average of $174.99. The company has a market capitalization of $24.87 billion, a P/E ratio of 19.83, a P/E/G ratio of 0.45 and a beta of 1.38.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $3.25 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, equities research analysts predict that First Solar will post 13.05 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Mark R. Widmar sold 23,912 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the completion of the transaction, the chief executive officer owned 87,978 shares of the company’s stock, valued at approximately $16,317,279.66. The trade was a 21.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 a total of 30,715 shares of company stock valued at $5,733,305 in the last three months. 0.48% of the stock is owned by insiders.

Hedge Funds Weigh In On First Solar

Several large investors have recently bought and sold shares of FSLR. Garde Capital Inc. bought a new position in First Solar in the first quarter valued at about $25,000. Wealth Preservation Advisors LLC bought a new position in First Solar in the first quarter valued at about $25,000. TD Private Client Wealth LLC raised its position in First Solar by 126.9% in the second quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock valued at $25,000 after purchasing an additional 85 shares during the last quarter. Strategic Wealth Investment Group LLC bought a new position in First Solar in the second quarter valued at about $26,000. Finally, Harbor Investment Advisory LLC raised its position in First Solar by 138.9% in the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Company Profile

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.