First Solar (NASDAQ:FSLR) Price Target Raised to $284.00 at Daiwa Capital Markets

First Solar (NASDAQ:FSLR) had its price target raised by Daiwa Capital Markets from $215.00 to $284.00 in a research report report published on Tuesday,MarketScreener reports. The firm currently has an outperform rating on the solar cell manufacturer’s stock.

A number of other research firms have also commented on FSLR. Cowen reaffirmed a “buy” rating on shares of First Solar in a research report on Friday, October 31st. Wall Street Zen raised First Solar from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wolfe Research upped their target price on First Solar from $232.00 to $247.00 in a report on Friday, October 31st. Deutsche Bank Aktiengesellschaft raised their price target on First Solar from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Finally, Rothschild & Co Redburn boosted their price objective on shares of First Solar from $150.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $270.30.

First Solar Stock Performance

Shares of FSLR stock opened at $253.42 on Tuesday. The company has a market capitalization of $27.19 billion, a P/E ratio of 19.46, a PEG ratio of 0.50 and a beta of 1.59. First Solar has a fifty-two week low of $116.56 and a fifty-two week high of $281.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.91. The stock has a 50 day moving average price of $248.73 and a two-hundred day moving average price of $205.60.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) 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 the consensus estimate of $1.56 billion. First Solar had a return on equity of 16.61% and a net margin of 27.73%.The firm’s revenue for the quarter was up 79.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.91 EPS. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. Analysts expect that First Solar will post 13.05 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Paul H. Stebbins sold 7,000 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the sale, the director owned 15,287 shares of the company’s stock, valued at $4,011,308.80. The trade was a 31.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael T. Sweeney sold 4,500 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $271.11, for a total transaction of $1,219,995.00. Following the completion of the sale, the director owned 13,662 shares in the company, valued at approximately $3,703,904.82. This trade represents a 24.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 48,912 shares of company stock valued at $12,971,349 over the last quarter. Corporate insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FSLR. Wealth Preservation Advisors LLC purchased a new stake in shares of First Solar in the first quarter worth $25,000. TD Private Client Wealth LLC raised its position 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 purchasing an additional 85 shares during the last quarter. Strategic Wealth Investment Group LLC bought a new position in First Solar in the 2nd quarter worth about $26,000. Harbor Investment Advisory LLC grew its position in First Solar by 138.9% during the 2nd 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. Finally, Hantz Financial Services Inc. grew its position in First Solar by 69.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock valued at $30,000 after purchasing an additional 75 shares during the last quarter. Institutional investors 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.