First Solar, Inc. (NASDAQ:FSLR) Receives $270.17 Average PT from Brokerages

First Solar, Inc. (NASDAQ:FSLR) has been given an average rating of “Moderate Buy” by the thirty-four ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, twenty-six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $269.7937.

FSLR has been the subject of a number of recent analyst reports. Mizuho lifted their target price on First Solar from $278.00 to $335.00 in a report on Friday, October 31st. Wall Street Zen raised shares of First Solar from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Evercore ISI increased their target price on shares of First Solar from $240.90 to $241.00 in a research note on Friday, October 31st. Susquehanna raised their price target on shares of First Solar from $273.00 to $285.00 in a report on Friday, October 31st. Finally, UBS Group boosted their price target on shares of First Solar from $275.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, November 3rd.

Insider Buying and Selling

In other First Solar news, insider Georges Antoun sold 37,412 shares of the company’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 transaction, the insider directly owned 15,424 shares in the company, valued at $4,087,514.24. This represents a 70.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael T. Sweeney sold 4,500 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $271.11, for a total value of $1,219,995.00. Following the completion of the sale, the director directly owned 13,662 shares in the company, valued at approximately $3,703,904.82. The trade was a 24.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,912 shares of company stock worth $12,971,349 over the last ninety days. 0.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Solar

Several hedge funds have recently bought and sold shares of the stock. Linden Thomas Advisory Services LLC grew its holdings in First Solar by 1.7% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock valued at $504,000 after buying an additional 39 shares in the last quarter. Signaturefd LLC increased its position in shares of First Solar by 2.6% during the third quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer’s stock valued at $414,000 after acquiring an additional 47 shares during the last quarter. Figure 8 Investment Strategies LLC increased its holdings in First Solar by 0.6% in the 3rd quarter. Figure 8 Investment Strategies LLC now owns 8,116 shares of the solar cell manufacturer’s stock valued at $1,790,000 after purchasing an additional 48 shares during the last quarter. Rathbones Group PLC grew its stake in shares of First Solar by 1.0% in the third quarter. Rathbones Group PLC now owns 4,930 shares of the solar cell manufacturer’s stock valued at $1,087,000 after buying an additional 51 shares in the last quarter. Finally, Hemington Wealth Management grew its position in First Solar by 22.9% in the 3rd quarter. Hemington Wealth Management now owns 306 shares of the solar cell manufacturer’s stock valued at $67,000 after acquiring an additional 57 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Trading Down 4.1%

NASDAQ:FSLR opened at $256.59 on Friday. First Solar has a 1 year low of $116.56 and a 1 year high of $281.55. The stock’s fifty day moving average price is $231.85 and its two-hundred day moving average price is $191.53. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. The company has a market cap of $27.53 billion, a P/E ratio of 21.95, a P/E/G ratio of 0.46 and a beta of 1.51.

First Solar (NASDAQ:FSLR) last announced its quarterly 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). First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the firm posted $2.91 earnings per share. First Solar’s revenue for the quarter 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, analysts expect that First Solar will post 13.05 EPS for the current year.

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.