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

First Solar, Inc. (NASDAQ:FSLR)’s share price reached a new 52-week high during mid-day trading on Monday after UBS Group raised their price target on the stock from $275.00 to $330.00. UBS Group currently has a buy rating on the stock. First Solar traded as high as $275.08 and last traded at $264.6780, with a volume of 225084 shares. The stock had previously closed at $266.94.

A number of other research analysts also recently commented on the company. Robert W. Baird increased their target price on First Solar from $240.00 to $264.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. JPMorgan Chase & Co. increased their price objective on shares of First Solar from $278.00 to $303.00 and gave the stock an “overweight” rating in a research report on Friday. The Goldman Sachs Group reissued a “buy” rating and issued a $316.00 price objective on shares of First Solar in a research report on Friday. Cowen restated a “buy” rating on shares of First Solar in a research note on Friday. Finally, Citigroup upped their target price on shares of First Solar from $198.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $266.23.

Insider Buying and Selling

In other news, CEO Mark R. Widmar sold 23,912 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the transaction, the chief executive officer directly owned 87,978 shares in the company, valued at approximately $16,317,279.66. This trade represents a 21.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Nathan B. Theurer sold 686 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 30,715 shares of company stock worth $5,733,305. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On First Solar

Hedge funds and other institutional investors have recently modified their holdings of the business. Teacher Retirement System of Texas acquired a new stake in First Solar in the first quarter valued at approximately $1,880,000. Mutual Advisors LLC boosted its stake in First Solar by 27.9% in the first quarter. Mutual Advisors LLC now owns 1,871 shares of the solar cell manufacturer’s stock valued at $237,000 after acquiring an additional 408 shares in the last quarter. IFM Investors Pty Ltd boosted its stake in First Solar by 6.9% in the first quarter. IFM Investors Pty Ltd now owns 22,496 shares of the solar cell manufacturer’s stock valued at $2,844,000 after acquiring an additional 1,453 shares in the last quarter. Abound Financial LLC acquired a new stake in First Solar in the first quarter valued at approximately $45,000. Finally, Hourglass Capital LLC acquired a new stake in First Solar in the first quarter valued at approximately $942,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Trading Down 0.5%

The company has a market capitalization of $28.50 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 0.46 and a beta of 1.38. 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’s 50 day simple moving average is $220.53 and its two-hundred day simple moving average is $184.75.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing the consensus estimate of $4.32 by ($0.08). The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. First Solar’s revenue was up 79.7% on a year-over-year basis. During the same quarter last year, the business earned $2.91 earnings per share. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal 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.