First Solar (NASDAQ:FSLR) Price Target Raised to $270.00 at Roth Capital

First Solar (NASDAQ:FSLR) had its price objective lifted by Roth Capital from $225.00 to $270.00 in a research report sent to investors on Monday, Marketbeat Ratings reports. Roth Capital currently has a buy rating on the solar cell manufacturer’s stock.

Other research analysts have also issued research reports about the company. Royal Bank Of Canada boosted their price target on First Solar from $201.00 to $244.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Bank of America lifted their target price on First Solar from $209.00 to $254.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft lifted their target price on First Solar from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of First Solar in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded First Solar from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $245.37.

First Solar Stock Up 2.6%

Shares of First Solar stock opened at $247.69 on Monday. The firm has a market cap of $26.56 billion, a PE ratio of 21.19, a P/E/G ratio of 0.46 and a beta of 1.38. First Solar has a 52-week low of $116.56 and a 52-week high of $249.56. The business’s 50 day simple moving average is $215.80 and its 200 day simple moving average is $180.04. 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 posted its quarterly earnings results 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. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, analysts predict that First Solar will post 13.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Nathan B. Theurer sold 686 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total transaction of $124,872.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 2,321 shares of the company’s stock in a transaction on Friday, August 15th. The shares were 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 approximately $16,326,357.84. The trade was a 2.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,715 shares of company stock valued at $5,733,305. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On First Solar

A number of institutional investors have recently modified their holdings of FSLR. Norges Bank acquired a new position in shares of First Solar during the 2nd quarter worth $212,621,000. Nuveen LLC acquired a new position in shares of First Solar during the 1st quarter worth $114,730,000. Viking Global Investors LP raised its holdings in shares of First Solar by 60.6% during the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after buying an additional 854,919 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of First Solar by 16,857.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer’s stock worth $95,965,000 after buying an additional 754,557 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of First Solar by 32.3% during the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock worth $306,909,000 after buying an additional 592,444 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

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.