First Solar (NASDAQ:FSLR) Price Target Raised to $289.00 at Guggenheim

First Solar (NASDAQ:FSLR) had its price target upped by Guggenheim from $287.00 to $289.00 in a research note published on Thursday,MarketScreener reports. They currently have a buy rating on the solar cell manufacturer’s stock.

Several other equities analysts have also weighed in on the stock. Seaport Global Securities increased their price target on shares of First Solar from $217.00 to $305.00 and gave the company a “buy” rating in a research report on Tuesday. Robert W. Baird increased their price objective on First Solar from $240.00 to $264.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Deutsche Bank Aktiengesellschaft upped their price target on First Solar from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. raised their price objective on shares of First Solar from $278.00 to $303.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Finally, Susquehanna upped their target price on shares of First Solar from $273.00 to $285.00 in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $270.17.

First Solar Trading Down 1.6%

Shares of NASDAQ FSLR traded down $4.34 during midday trading on Thursday, reaching $267.64. The stock had a trading volume of 2,512,136 shares, compared to its average volume of 3,477,959. The company’s 50 day moving average price is $225.07 and its 200 day moving average price is $186.94. 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 has a twelve month low of $116.56 and a twelve month high of $281.55. The firm has a market cap of $28.72 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 0.46 and a beta of 1.51.

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

Insider Buying and Selling

In other news, insider Georges Antoun sold 37,412 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total value of $9,914,554.12. Following the completion of the sale, the insider owned 15,424 shares of the company’s stock, valued at approximately $4,087,514.24. The trade was a 70.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Nathan B. Theurer sold 686 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 68,127 shares of company stock worth $15,647,859 in the last 90 days. 0.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Solar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bornite Capital Management LP bought a new position in shares of First Solar during the third quarter valued at about $22,053,000. CenterBook Partners LP raised its holdings in shares of First Solar by 195.3% during the third quarter. CenterBook Partners LP now owns 40,480 shares of the solar cell manufacturer’s stock valued at $8,927,000 after acquiring an additional 26,771 shares in the last quarter. Ingalls & Snyder LLC purchased a new stake in First Solar in the third quarter worth $208,000. NEOS Investment Management LLC boosted its holdings in First Solar by 45.7% in the third quarter. NEOS Investment Management LLC now owns 12,410 shares of the solar cell manufacturer’s stock valued at $2,737,000 after acquiring an additional 3,891 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in First Solar by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock valued at $3,026,108,000 after purchasing an additional 464,130 shares during the period. 92.08% of the stock is currently owned by institutional investors.

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.