First Solar (NASDAQ:FSLR) Given New $244.00 Price Target at Royal Bank Of Canada

First Solar (NASDAQ:FSLR) had its price target lifted by Royal Bank Of Canada from $201.00 to $244.00 in a research note issued to investors on Monday morning,MarketScreener reports. They currently have an outperform rating on the solar cell manufacturer’s stock.

Several other equities research analysts have also commented on FSLR. Citigroup boosted their target price on shares of First Solar from $198.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. The Goldman Sachs Group lifted their price target on First Solar from $283.00 to $293.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on First Solar from $262.00 to $278.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Mizuho lifted their price target on First Solar from $275.00 to $278.00 and gave the stock an “outperform” rating in a research note on Monday, July 14th. Finally, BMO Capital Markets lifted their price target on First Solar from $194.00 to $203.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and an average target price of $242.32.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $229.00 on Monday. The firm has a market capitalization of $24.56 billion, a P/E ratio of 19.59, a PEG ratio of 0.44 and a beta of 1.38. First Solar has a one year low of $116.56 and a one year high of $248.04. The company’s fifty day moving average is $211.82 and its two-hundred day moving average is $176.28. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90.

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. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Analysts forecast that First Solar will post 13.05 EPS for the current fiscal year.

Insider Activity

In related news, CEO Mark R. Widmar sold 23,912 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The disclosure for this sale can be found here. Insiders 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FSLR. Brendel Financial Advisors LLC purchased a new stake in First Solar in the 3rd quarter valued at about $225,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in First Solar by 12.7% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 62,000 shares of the solar cell manufacturer’s stock valued at $13,673,000 after buying an additional 7,000 shares during the period. Diversified Trust Co purchased a new stake in First Solar in the 3rd quarter valued at about $264,000. Fort Washington Investment Advisors Inc. OH grew its holdings in First Solar by 17.8% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,672 shares of the solar cell manufacturer’s stock valued at $369,000 after buying an additional 253 shares during the period. Finally, Ethic Inc. grew its holdings in First Solar by 0.3% in the 3rd quarter. Ethic Inc. now owns 20,443 shares of the solar cell manufacturer’s stock valued at $4,508,000 after buying an additional 59 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

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.