First Solar (NASDAQ:FSLR) Price Target Raised to $285.00 at Wells Fargo & Company

First Solar (NASDAQ:FSLR) had its target price boosted by Wells Fargo & Company from $270.00 to $285.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the solar cell manufacturer’s stock.

Other equities research analysts also recently issued research reports about the stock. Susquehanna increased their price objective on shares of First Solar from $273.00 to $285.00 in a research report on Friday, October 31st. TD Cowen lifted their price objective on shares of First Solar from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Solar in a research report on Monday. BMO Capital Markets lifted their target price on First Solar from $273.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Finally, Citigroup raised their price objective on First Solar from $198.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $271.27.

First Solar Trading Up 2.0%

Shares of FSLR stock opened at $266.98 on Friday. First Solar has a 52-week low of $116.56 and a 52-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 market cap of $28.65 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 0.51 and a beta of 1.59. The firm has a fifty day moving average of $253.75 and a 200-day moving average of $210.75.

First Solar (NASDAQ:FSLR) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $1.56 billion. First Solar had a net margin of 27.73% and a return on equity of 16.61%. The company’s revenue for the quarter was up 79.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.91 earnings per share. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. On average, equities research analysts forecast that First Solar will post 13.05 earnings per share for the current fiscal year.

Insider Activity at First Solar

In other First Solar news, Director Michael T. Sweeney sold 4,500 shares of First Solar 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 transaction, the director owned 13,662 shares of the company’s stock, valued at $3,703,904.82. The trade was a 24.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul H. Stebbins sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the sale, the director directly owned 15,287 shares in the company, valued at $4,011,308.80. This trade represents a 31.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 48,912 shares of company stock worth $12,971,349. 0.48% of the stock is owned by company insiders.

Institutional Trading of First Solar

Institutional investors have recently added to or reduced their stakes in the business. TD Private Client Wealth LLC boosted its holdings in shares of First Solar by 126.9% during the second 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 period. Strategic Wealth Investment Group LLC bought a new position in First Solar during the 2nd quarter valued at approximately $26,000. Harbor Investment Advisory LLC raised 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 valued at $28,000 after buying an additional 100 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in First Solar by 69.4% in 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 in the last quarter. Finally, Wealth Preservation Advisors LLC bought a new stake in First Solar in the first quarter worth $25,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.