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

First Solar, Inc. (NASDAQ:FSLR) reached a new 52-week high during trading on Monday after Roth Capital raised their price target on the stock from $225.00 to $270.00. Roth Capital currently has a buy rating on the stock. First Solar traded as high as $249.56 and last traded at $245.49, with a volume of 415095 shares traded. The stock had previously closed at $241.41.

FSLR has been the topic of a number of other research reports. TD Cowen raised their target price on shares of First Solar from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of First Solar from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of First Solar in a research report on Wednesday, October 8th. BMO Capital Markets raised their price target on First Solar from $194.00 to $203.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada raised their price target on First Solar from $201.00 to $244.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.37.

Insider Activity

In other First Solar news, CEO Mark R. Widmar sold 2,321 shares of First Solar stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $199.44, for a total value of $462,900.24. Following the sale, the chief executive officer owned 81,861 shares of the company’s stock, valued at $16,326,357.84. The trade was a 2.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of First Solar 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 sold 30,715 shares of company stock worth $5,733,305 over the last ninety days. Insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On First Solar

Several large investors have recently bought and sold shares of FSLR. Wealth Preservation Advisors LLC bought a new stake in shares of First Solar in the 1st quarter worth about $25,000. TD Private Client Wealth LLC increased 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 buying an additional 85 shares during the last quarter. Strategic Wealth Investment Group LLC bought a new stake in First Solar during the second quarter worth approximately $26,000. Harbor Investment Advisory LLC increased its stake in First Solar by 138.9% during the second 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 last quarter. Finally, Hantz Financial Services Inc. increased its stake in First Solar by 69.4% during the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock worth $30,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Up 2.6%

The company has a 50 day simple moving average of $215.80 and a two-hundred day simple moving average of $180.04. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $26.56 billion, a P/E ratio of 21.19, a PEG ratio of 0.46 and a beta of 1.38.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.50. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, equities analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

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.