First Solar (NASDAQ:FSLR) Receives Buy Rating from Roth Capital

Roth Capital restated their buy rating on shares of First Solar (NASDAQ:FSLR) in a research report sent to investors on Friday,Benzinga reports. They currently have a $300.00 price objective on the solar cell manufacturer’s stock.

A number of other brokerages have also recently commented on FSLR. Argus increased their price target on shares of First Solar from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. HSBC upped their price objective on shares of First Solar from $211.00 to $231.00 and gave the company a “hold” rating in a research note on Tuesday, May 5th. Citigroup reiterated a “buy” rating on shares of First Solar in a research report on Wednesday. Barclays boosted their price target on shares of First Solar from $213.00 to $279.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, BMO Capital Markets reduced their price objective on First Solar from $252.00 to $237.00 and set a “market perform” rating on the stock in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average price target of $257.10.

First Solar Stock Down 1.5%

FSLR stock opened at $202.82 on Friday. The company’s 50 day moving average is $248.59 and its 200 day moving average is $226.92. The stock has a market cap of $21.79 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 0.46 and a beta of 1.73. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. First Solar has a 1-year low of $171.99 and a 1-year high of $320.95.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business posted $1.95 earnings per share. First Solar’s revenue for the quarter was up 23.6% on a year-over-year basis. Sell-side analysts predict that First Solar will post 17.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Georges Antoun sold 566 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $122,046.58. Following the sale, the insider owned 19,918 shares of the company’s stock, valued at $4,294,918.34. This trade represents a 2.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Alexander R. Bradley sold 498 shares of First Solar stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $107,383.74. Following the completion of the sale, the chief financial officer owned 30,712 shares of the company’s stock, valued at $6,622,428.56. This represents a 1.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 31,893 shares of company stock worth $7,893,775 in the last quarter. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On First Solar

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSLR. Commonwealth Retirement Investments LLC purchased a new stake in First Solar during the fourth quarter valued at $26,000. Reflection Asset Management bought a new stake in shares of First Solar during the 4th quarter valued at about $26,000. Strategic Wealth Investment Group LLC bought a new stake in shares of First Solar during the 2nd quarter valued at about $26,000. Larson Financial Group LLC increased its position in shares of First Solar by 117.0% during the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in shares of First Solar during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar News Roundup

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: Roth Capital reaffirmed its buy rating on First Solar and set a $300 price target, implying meaningful upside from current levels. Benzinga
• Positive Sentiment: Industry commentary highlighted record U.S. solar power output and rising electricity demand from AI data centers, which supports the broader solar demand narrative and could benefit First Solar over time. 24/7 Wall St.
• Neutral Sentiment: Several firms, including Rosen, Howard G. Smith, Schall, Kaplan Fox, Faruqi & Faruqi, and others, reminded investors about pending First Solar securities-fraud class actions and the August 24 lead-plaintiff deadline. PR Newswire
• Neutral Sentiment: Short-interest reporting showed no meaningful update, with the latest filing indicating zero shares reported short and a days-to-cover ratio of 0.0, so it does not appear to be a current market driver.
• Negative Sentiment: The ongoing securities-fraud litigation headlines create a legal overhang that may pressure the shares until there is more clarity on the case outcome.

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.