First Solar, Inc. (NASDAQ:FSLR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of First Solar, Inc. (NASDAQ:FSLR) have received an average recommendation of “Moderate Buy” from the thirty-four ratings firms that are covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation, twenty-six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $269.7937.

A number of analysts have commented on FSLR shares. JPMorgan Chase & Co. upped their target price on shares of First Solar from $278.00 to $303.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Needham & Company LLC assumed coverage on First Solar in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $286.00 price objective for the company. KeyCorp reaffirmed an “overweight” rating on shares of First Solar in a report on Friday, October 31st. BMO Capital Markets reissued an “outperform” rating and set a $273.00 price target on shares of First Solar in a report on Friday, October 31st. Finally, Wall Street Zen upgraded First Solar from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th.

Insiders Place Their Bets

In related news, insider Georges Antoun sold 37,412 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $265.01, for a total value of $9,914,554.12. Following the completion of the transaction, the insider owned 15,424 shares of the company’s stock, valued at approximately $4,087,514.24. This represents a 70.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul H. Stebbins sold 7,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $262.40, for a total value of $1,836,800.00. Following the sale, the director directly owned 15,287 shares in the company, valued at approximately $4,011,308.80. This represents a 31.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 48,912 shares of company stock worth $12,971,349. Company insiders own 0.48% of the company’s stock.

Institutional Trading of First Solar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in First Solar by 3.5% during the third 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 last quarter. State Street Corp lifted its holdings in shares of First Solar by 2.1% in the 2nd quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock valued at $881,680,000 after acquiring an additional 111,927 shares during the last quarter. Geode Capital Management LLC grew its position in First Solar by 0.9% in the second quarter. Geode Capital Management LLC now owns 2,857,848 shares of the solar cell manufacturer’s stock worth $471,927,000 after acquiring an additional 26,476 shares in the last quarter. Wellington Management Group LLP increased its stake in First Solar by 17.2% during the first quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer’s stock worth $349,617,000 after acquiring an additional 405,457 shares during the last quarter. Finally, Invesco Ltd. increased its stake in First Solar by 32.3% during the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock worth $306,909,000 after acquiring an additional 592,444 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Down 2.5%

First Solar stock opened at $256.06 on Thursday. First Solar has a one year low of $116.56 and a one year high of $281.55. The stock has a fifty day moving average of $245.99 and a 200 day moving average of $202.67. 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 $27.48 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 0.51 and a beta of 1.59.

First Solar (NASDAQ:FSLR) last announced its 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 during the quarter, compared to analysts’ expectations of $1.56 billion. First Solar had a return on equity of 16.61% and a net margin of 27.73%.The company’s revenue for the quarter was up 79.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.91 earnings per share. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, sell-side analysts predict 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.