Weekly Investment Analysts’ Ratings Updates for First Solar (FSLR)

Several brokerages have updated their recommendations and price targets on shares of First Solar (NASDAQ: FSLR) in the last few weeks:

• 10/31/2024 – First Solar was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 10/31/2024 – First Solar had its price target lowered by analysts at Mizuho from $274.00 to $257.00. They now have a “neutral” rating on the stock.
• 10/30/2024 – First Solar had its price target lowered by analysts at Susquehanna from $280.00 to $252.00. They now have a “positive” rating on the stock.
• 10/30/2024 – First Solar had its price target lowered by analysts at Piper Sandler from $250.00 to $245.00. They now have an “overweight” rating on the stock.
• 10/30/2024 – First Solar had its price target lowered by analysts at Wells Fargo & Company from $250.00 to $240.00. They now have an “overweight” rating on the stock.
• 10/30/2024 – First Solar had its price target lowered by analysts at Morgan Stanley from $329.00 to $297.00. They now have an “overweight” rating on the stock.
• 10/30/2024 – First Solar had its price target lowered by analysts at Royal Bank of Canada from $315.00 to $280.00. They now have an “outperform” rating on the stock.
• 10/30/2024 – First Solar had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $260.00 price target on the stock, down previously from $286.00.
• 10/30/2024 – First Solar had its price target lowered by analysts at Evercore ISI from $281.00 to $278.00. They now have an “outperform” rating on the stock.
• 10/30/2024 – First Solar had its price target lowered by analysts at Guggenheim from $368.00 to $335.00. They now have a “buy” rating on the stock.
• 10/30/2024 – First Solar had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $311.00 to $279.00. They now have a “buy” rating on the stock.
• 10/30/2024 – First Solar had its price target lowered by analysts at Bank of America Co. from $321.00 to $269.00. They now have a “buy” rating on the stock.
• 10/29/2024 – First Solar was upgraded by analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating. They now have a $260.00 price target on the stock.
• 10/22/2024 – First Solar was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating. They now have a $254.00 price target on the stock, up previously from $200.00.
• 10/16/2024 – First Solar had its price target lowered by analysts at Susquehanna from $285.00 to $280.00. They now have a “positive” rating on the stock.
• 10/15/2024 – First Solar had its price target lowered by analysts at Roth Mkm from $320.00 to $280.00. They now have a “buy” rating on the stock.
• 10/10/2024 – First Solar had its price target lowered by analysts at Jefferies Financial Group Inc. from $271.00 to $266.00. They now have a “buy” rating on the stock.
• 10/9/2024 – First Solar was upgraded by analysts at Hsbc Global Res to a “strong-buy” rating.
• 10/8/2024 – First Solar had its price target lowered by analysts at Bank of America Co. from $343.00 to $321.00. They now have a “buy” rating on the stock.
• 9/26/2024 – First Solar is now covered by analysts at Truist Financial Co.. They set a “buy” rating and a $300.00 price target on the stock.
• 9/16/2024 – First Solar had its price target raised by analysts at Bank of America Co. from $320.00 to $343.00. They now have a “buy” rating on the stock.

First Solar Price Performance

Shares of NASDAQ:FSLR traded up $9.73 on Monday, reaching $214.67. 4,946,562 shares of the company were exchanged, compared to its average volume of 2,439,247. The company has a 50-day moving average of $221.68 and a 200-day moving average of $224.28. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.65 and a debt-to-equity ratio of 0.05. The firm has a market cap of $22.98 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). The firm had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.50 earnings per share. Equities analysts forecast that First Solar, Inc. will post 13.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the sale, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,885 shares of company stock worth $2,405,757 in the last three months. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

A number of institutional investors have recently modified their holdings of FSLR. AlphaMark Advisors LLC purchased a new stake in First Solar in the 3rd quarter worth approximately $25,000. Kennebec Savings Bank acquired a new stake in shares of First Solar during the third quarter worth $29,000. Atlas Capital Advisors LLC grew its position in shares of First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the period. Summit Securities Group LLC acquired a new position in First Solar in the second quarter valued at $36,000. Finally, Itau Unibanco Holding S.A. purchased a new position in First Solar during the second quarter worth about $38,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

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.