BMO Capital Markets upgraded shares of First Solar (NASDAQ:FSLR – Free Report) from a market perform rating to an outperform rating in a research report released on Thursday, Marketbeat Ratings reports. BMO Capital Markets currently has $263.00 target price on the solar cell manufacturer’s stock, up from their prior target price of $237.00.
Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group raised their target price on First Solar from $300.00 to $310.00 in a research note on Friday, May 1st. Evercore reaffirmed a “positive” rating and issued a $218.00 price target on shares of First Solar in a research note on Monday, August 17th. Oppenheimer reiterated a “market perform” rating on shares of First Solar in a report on Friday, July 31st. Mizuho set a $324.00 price objective on First Solar in a research report on Thursday, August 13th. Finally, Argus restated a “buy” rating and issued a $275.00 price objective on shares of First Solar in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $266.27.
Read Our Latest Stock Report on First Solar
First Solar Price Performance
First Solar (NASDAQ:FSLR – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $1.02. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. First Solar had a net margin of 32.47% and a return on equity of 18.02%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.18 EPS. As a group, equities analysts anticipate that First Solar will post 17.77 earnings per share for the current fiscal year.
Insider Transactions at First Solar
In other news, General Counsel Jason E. Dymbort sold 3,700 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $249.38, for a total transaction of $922,706.00. Following the completion of the transaction, the general counsel directly owned 5,624 shares in the company, valued at $1,402,513.12. This trade represents a 39.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 3,425 shares of First Solar stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $218.95, for a total value of $749,903.75. Following the completion of the sale, the chief technology officer directly owned 7,471 shares of the company’s stock, valued at $1,635,775.45. The trade was a 31.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,081 shares of company stock valued at $3,457,086 over the last three months. 0.39% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On First Solar
Several institutional investors have recently bought and sold shares of FSLR. Commonwealth Retirement Investments LLC purchased a new position in shares of First Solar in the fourth quarter valued at approximately $26,000. Reflection Asset Management purchased a new stake in First Solar during the 4th quarter worth approximately $26,000. Strategic Wealth Investment Group LLC acquired a new stake in First Solar during the 2nd quarter worth approximately $26,000. Larson Financial Group LLC lifted its holdings 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 worth $27,000 after buying an additional 55 shares in the last quarter. Finally, Elyxium Wealth LLC purchased a new position in First Solar in the 4th quarter valued at approximately $30,000. 92.08% of the stock is owned by institutional investors and hedge funds.
Key Headlines Impacting First Solar
Here are the key news stories impacting First Solar this week:
- Positive Sentiment: BMO upgraded First Solar to Outperform and raised its price target to $263 from $237, implying substantial upside from the reference price. BMO reportedly believes the market reaction to the latest Section 232 tariff developments was overdone. BMO upgrades First Solar as tariff selloff looks overdone
- Positive Sentiment: Argus reiterated a Buy rating on First Solar, reinforcing the view that the company’s valuation and long-term growth prospects remain attractive despite recent volatility. Argus reiterates Buy rating for First Solar
- Positive Sentiment: A climate-finance expert said Wall Street may have misinterpreted the market’s response to the latest solar-tariff announcement, potentially easing concerns that trade policy will materially damage First Solar’s outlook. Wall Street misread the solar tariffs
- Positive Sentiment: An emergency order restricting certain foreign bulk-power-system equipment and software could benefit U.S. solar and energy-equipment manufacturers by supporting domestic suppliers, although the direct impact on First Solar is uncertain. Why solar stocks were rising overnight
- Neutral Sentiment: First Solar’s latest quarterly results exceeded earnings expectations, but revenue declined year over year, leaving investors focused on policy developments and future demand rather than the reported quarter.
- Negative Sentiment: Jim Cramer advised investors to stay away from First Solar, while Evercore ISI maintained an In-Line rating and trimmed its price target to $218, highlighting continued analyst disagreement and near-term uncertainty. Jim Cramer comments on First Solar
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.
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