Brokerages Set First Solar, Inc. (NASDAQ:FSLR) Price Target at $256.41

First Solar, Inc. (NASDAQ:FSLR) has earned a consensus recommendation of “Moderate Buy” from the thirty-four research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation, nineteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $257.0972.

Several equities research analysts have recently commented on FSLR shares. Susquehanna upped their price objective on First Solar from $250.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, July 10th. Zacks Research raised First Solar from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Sanford C. Bernstein reissued an “underperform” rating on shares of First Solar in a report on Friday, June 26th. The Goldman Sachs Group upped their price target on First Solar from $300.00 to $310.00 in a research report on Friday, May 1st. Finally, UBS Group lifted their price objective on First Solar from $290.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, June 11th.

Insider Activity at First Solar

In other First Solar news, insider Caroline Stockdale sold 10,628 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $275.60, for a total transaction of $2,929,076.80. Following the sale, the insider owned 23,792 shares in the company, valued at approximately $6,557,075.20. This trade represents a 30.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 420 shares of First Solar stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $90,564.60. Following the transaction, the chief technology officer directly owned 10,896 shares in the company, valued at $2,349,504.48. This represents a 3.71% decrease in their position. 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 90 days. Insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Aventura Private Wealth LLC purchased a new position in shares of First Solar in the fourth quarter valued at about $25,000. Commonwealth Retirement Investments LLC purchased a new stake in shares of First Solar during the fourth quarter worth about $26,000. Reflection Asset Management purchased a new stake in shares of First Solar during the fourth quarter worth about $26,000. Strategic Wealth Investment Group LLC bought a new stake in First Solar during the 2nd quarter valued at approximately $26,000. Finally, Larson Financial Group LLC raised its stake in 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 period. 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: First Solar continues to draw attention from investors and analysts because of its growth in U.S. solar manufacturing and exposure to domestic solar demand. Article Title
• Neutral Sentiment: Several law firms issued reminder notices about the pending securities class action and the August 24 deadline for investors to seek lead-plaintiff status. Article Title
• Neutral Sentiment: Pomerantz announced that a class action has been filed against First Solar and certain officers, alleging securities-law violations tied to the class period. Article Title
• Negative Sentiment: The lawsuit and repeated legal notices highlight alleged misrepresentations about module production underutilization and the challenges of onshoring operations, which can weigh on investor sentiment and raise litigation risk. Article Title

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $206.05 on Friday. First Solar has a 12-month low of $171.99 and a 12-month high of $320.95. The firm has a market capitalization of $22.14 billion, a price-to-earnings ratio of 13.31, 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. The firm has a 50 day moving average of $250.23 and a 200 day moving average of $227.94.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The company’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period last year, the firm earned $1.95 earnings per share. On average, research analysts anticipate that First Solar will post 17.54 earnings per share for the current year.

First Solar Company Profile

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.