Daiwa Capital Markets Forecasts Strong Price Appreciation for First Solar (NASDAQ:FSLR) Stock

First Solar (NASDAQ:FSLR) had its target price lifted by equities researchers at Daiwa Capital Markets from $215.00 to $284.00 in a report released on Tuesday,MarketScreener reports. The firm presently has an “outperform” rating on the solar cell manufacturer’s stock. Daiwa Capital Markets’ price objective suggests a potential upside of 8.30% from the company’s previous close.

A number of other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of First Solar from $278.00 to $303.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Guggenheim increased their price target on shares of First Solar from $287.00 to $289.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. UBS Group raised their price objective on shares of First Solar from $275.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Wells Fargo & Company lifted their price objective on shares of First Solar from $213.00 to $270.00 in a research note on Friday, October 31st. Finally, Roth Capital set a $300.00 target price on shares of First Solar in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and an average price target of $270.73.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $262.23 on Tuesday. First Solar has a 12 month low of $116.56 and a 12 month high of $281.55. The firm has a market capitalization of $28.14 billion, a P/E ratio of 20.14, a P/E/G ratio of 0.50 and a beta of 1.59. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.55. The company’s fifty day moving average price is $249.48 and its 200 day moving average price is $206.00.

First Solar (NASDAQ:FSLR) last posted its 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). The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. First Solar had a return on equity of 16.61% and a net margin of 27.73%.The firm’s revenue for the quarter was up 79.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.91 EPS. 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 earnings per share for the current fiscal year.

Insider Activity at First Solar

In related news, insider Georges Antoun sold 37,412 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider directly owned 15,424 shares of the company’s stock, valued at $4,087,514.24. This trade represents a 70.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael T. Sweeney sold 4,500 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $271.11, for a total value of $1,219,995.00. Following the sale, the director owned 13,662 shares in the company, valued at approximately $3,703,904.82. The trade was a 24.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,912 shares of company stock valued at $12,971,349 in the last ninety days. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On First Solar

Hedge funds have recently added to or reduced their stakes in the business. Wealth Preservation Advisors LLC acquired a new stake in shares of First Solar in the first quarter valued at approximately $25,000. TD Private Client Wealth LLC grew its holdings in First Solar by 126.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock valued at $25,000 after buying an additional 85 shares during the last quarter. Strategic Wealth Investment Group LLC purchased a new position in First Solar during the second quarter worth $26,000. Harbor Investment Advisory LLC raised its holdings in shares of First Solar by 138.9% in the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its position in shares of First Solar by 69.4% in the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock valued at $30,000 after acquiring an additional 75 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

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.