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

First Solar (NASDAQ: FSLR) recently received a number of ratings updates from brokerages and research firms:

• 6/18/2024 – First Solar was downgraded by analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating.
• 6/12/2024 – First Solar had its price target raised by analysts at Oppenheimer Holdings Inc. from $271.00 to $325.00. They now have an “outperform” rating on the stock.
• 6/11/2024 – First Solar had its price target raised by analysts at Robert W. Baird from $246.00 to $344.00. They now have an “outperform” rating on the stock.
• 6/10/2024 – First Solar had its price target raised by analysts at BMO Capital Markets from $224.00 to $311.00. They now have an “outperform” rating on the stock.
• 6/4/2024 – First Solar had its price target raised by analysts at Morgan Stanley from $248.00 to $331.00. They now have an “overweight” rating on the stock.
• 6/4/2024 – First Solar had its price target raised by analysts at The Goldman Sachs Group, Inc. from $268.00 to $302.00. They now have a “buy” rating on the stock.
• 5/31/2024 – First Solar had its “buy” rating reaffirmed by analysts at Roth Mkm. They now have a $320.00 price target on the stock, up previously from $230.00.
• 5/30/2024 – First Solar had its “neutral” rating reaffirmed by analysts at Mizuho. They now have a $274.00 price target on the stock, up previously from $209.00.
• 5/29/2024 – First Solar was downgraded by analysts at DZ Bank AG from a “buy” rating to a “hold” rating. They now have a $270.00 price target on the stock.
• 5/29/2024 – First Solar had its price target raised by analysts at UBS Group AG from $270.00 to $350.00. They now have a “buy” rating on the stock.
• 5/23/2024 – First Solar had its price target raised by analysts at JPMorgan Chase & Co. from $240.00 to $262.00. They now have an “overweight” rating on the stock.
• 5/21/2024 – First Solar had its price target raised by analysts at Piper Sandler from $195.00 to $219.00. They now have an “overweight” rating on the stock.
• 5/21/2024 – First Solar had its price target raised by analysts at UBS Group AG from $252.00 to $270.00. They now have a “buy” rating on the stock.
• 5/15/2024 – First Solar had its price target raised by analysts at Barclays PLC from $227.00 to $228.00. They now have an “overweight” rating on the stock.
• 5/2/2024 – First Solar had its price target raised by analysts at JPMorgan Chase & Co. from $237.00 to $240.00. They now have an “overweight” rating on the stock.
• 5/2/2024 – First Solar had its price target raised by analysts at Morgan Stanley from $245.00 to $248.00. They now have an “overweight” rating on the stock.
• 5/2/2024 – First Solar had its price target raised by analysts at Oppenheimer Holdings Inc. from $269.00 to $271.00. They now have an “outperform” rating on the stock.
• 5/2/2024 – First Solar had its price target lowered by analysts at Guggenheim from $359.00 to $356.00. They now have a “buy” rating on the stock.
• 5/2/2024 – First Solar had its price target raised by analysts at UBS Group AG from $250.00 to $252.00. They now have a “buy” rating on the stock.
• 5/2/2024 – First Solar had its price target raised by analysts at Jefferies Financial Group Inc. from $209.50 to $211.00. They now have a “buy” rating on the stock.
• 5/2/2024 – First Solar had its price target raised by analysts at The Goldman Sachs Group, Inc. from $265.00 to $268.00. They now have a “buy” rating on the stock.
• 5/2/2024 – First Solar had its price target raised by analysts at Mizuho from $196.00 to $209.00. They now have a “buy” rating on the stock.

First Solar Stock Performance

First Solar stock traded down $10.09 during mid-day trading on Friday, hitting $239.83. The company had a trading volume of 1,106,127 shares, compared to its average volume of 2,450,668. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $25.67 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 0.32 and a beta of 1.48. The company’s fifty day moving average is $231.56 and its 200-day moving average is $184.36. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The company had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. During the same quarter in the previous year, the company earned $0.40 earnings per share. The firm’s revenue for the quarter was up 44.8% on a year-over-year basis. Equities research analysts predict that First Solar, Inc. will post 13.59 EPS for the current year.

Insiders Place Their Bets

In other news, insider Georges Antoun sold 2,400 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $169.72, for a total value of $407,328.00. Following the completion of the sale, the insider now directly owns 39,812 shares in the company, valued at $6,756,892.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other First Solar news, insider Georges Antoun sold 2,400 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $169.72, for a total transaction of $407,328.00. Following the transaction, the insider now directly owns 39,812 shares of the company’s stock, valued at $6,756,892.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 1,621 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $260.00, for a total transaction of $421,460.00. Following the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $922,740. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,890 shares of company stock worth $13,709,131. 0.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Solar

Several hedge funds and other institutional investors have recently made changes to their positions in FSLR. Dixon Mitchell Investment Counsel Inc. purchased a new position in First Solar in the 1st quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. acquired a new position in First Solar during the fourth quarter worth about $27,000. Baystate Wealth Management LLC acquired a new stake in First Solar in the 4th quarter valued at about $29,000. Headinvest LLC purchased a new position in First Solar in the 3rd quarter worth approximately $30,000. Finally, Riverview Trust Co purchased a new stake in First Solar in the 1st quarter valued at $32,000. Hedge funds and other institutional investors 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.