First Solar (NASDAQ:FSLR) Stock Price Expected to Rise, Mizuho Analyst Says

First Solar (NASDAQ:FSLR) had its target price boosted by equities researchers at Mizuho from $278.00 to $335.00 in a report issued on Friday,MarketScreener reports. Mizuho’s price objective would suggest a potential upside of 25.50% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. Roth Capital reissued a “buy” rating and issued a $270.00 price objective (up from $225.00) on shares of First Solar in a research report on Monday, October 27th. Glj Research restated a “buy” rating and issued a $214.06 target price (up previously from $172.53) on shares of First Solar in a report on Tuesday, August 12th. Robert W. Baird upped their target price on shares of First Solar from $240.00 to $264.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a report on Friday, August 1st. Finally, Needham & Company LLC initiated coverage on shares of First Solar in a research note on Wednesday, October 22nd. They set a “buy” rating and a $286.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $261.23.

First Solar Price Performance

Shares of FSLR opened at $266.94 on Friday. First Solar has a fifty-two week low of $116.56 and a fifty-two week high of $269.67. The firm’s 50 day moving average price is $219.21 and its 200 day moving average price is $183.37. The company has a market cap of $28.63 billion, a P/E ratio of 22.83, a PEG ratio of 0.46 and a beta of 1.38. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing the consensus estimate of $4.32 by ($0.08). First Solar had a return on equity of 15.57% and a net margin of 28.95%.The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the company earned $2.91 earnings per share. First Solar’s quarterly revenue was up 79.7% on a year-over-year basis. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. On average, research analysts forecast that First Solar will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, CEO Mark R. Widmar sold 2,321 shares of the firm’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $199.44, for a total value of $462,900.24. Following the completion of the sale, the chief executive officer owned 81,861 shares in the company, valued at approximately $16,326,357.84. This trade represents a 2.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The SEC filing for this sale provides additional information. Insiders sold a total of 30,715 shares of company stock valued at $5,733,305 in the last 90 days. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On First Solar

Large investors have recently made changes to their positions in the stock. Cetera Investment Advisers increased its holdings in shares of First Solar by 10.9% in the 1st quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer’s stock valued at $3,216,000 after purchasing an additional 2,510 shares in the last quarter. Hunter Associates Investment Management LLC purchased a new position in First Solar during the 1st quarter valued at about $272,000. Raymond James Financial Inc. increased its holdings in First Solar by 57.2% during the 1st quarter. Raymond James Financial Inc. now owns 43,991 shares of the solar cell manufacturer’s stock valued at $5,562,000 after acquiring an additional 16,003 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. increased its holdings in First Solar by 18.2% during the 1st quarter. Sumitomo Mitsui Financial Group Inc. now owns 101,659 shares of the solar cell manufacturer’s stock valued at $12,853,000 after acquiring an additional 15,656 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in First Solar by 49.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,251 shares of the solar cell manufacturer’s stock valued at $10,471,000 after acquiring an additional 20,884 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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.