Guggenheim Issues Pessimistic Forecast for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its target price reduced by investment analysts at Guggenheim from $299.00 to $297.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the solar cell manufacturer’s stock. Guggenheim‘s price target indicates a potential upside of 62.60% from the company’s current price.

Several other brokerages have also issued reports on FSLR. Oppenheimer reissued a “market perform” rating on shares of First Solar in a report on Friday. UBS Group restated a “buy” rating on shares of First Solar in a report on Friday. Argus reiterated a “buy” rating and set a $275.00 price objective on shares of First Solar in a report on Wednesday, August 26th. BMO Capital Markets restated an “outperform” rating and issued a $255.00 target price on shares of First Solar in a research note on Friday. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $199.00 price target on shares of First Solar in a research note on Friday, October 16th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $258.86.

First Solar Stock Performance

Shares of FSLR stock opened at $182.66 on Monday. First Solar has a 52 week low of $165.86 and a 52 week high of $320.95. The stock has a market capitalization of $19.63 billion, a PE ratio of 10.35, a PEG ratio of 0.47 and a beta of 1.73. The stock’s fifty day moving average is $188.72 and its 200-day moving average is $216.19.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 29th. The solar cell manufacturer reported $5.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.63. First Solar had a return on equity of 18.33% and a net margin of 37.12%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the firm posted $4.24 earnings per share. The firm’s revenue for the quarter was down 22.8% compared to the same quarter last year. As a group, analysts forecast that First Solar will post 17.64 earnings per share for the current fiscal year.

Insider Activity at First Solar

In other news, CTO Markus Gloeckler sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $174.00, for a total transaction of $139,200.00. Following the transaction, the chief technology officer directly owned 5,042 shares of the company’s stock, valued at approximately $877,308. This trade represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jason E. Dymbort sold 3,700 shares of First Solar stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $249.38, for a total value of $922,706.00. Following the completion of the transaction, the general counsel directly owned 5,624 shares of the company’s stock, valued at $1,402,513.12. This represents a 39.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,256 shares of company stock worth $1,455,813 in the last ninety days. 0.39% of the stock is owned by company insiders.

Institutional Trading of First Solar

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of First Solar during the second quarter worth $3,310,298,000. Hill City Capital LP acquired a new stake in First Solar in the second quarter valued at approximately $620,133,555. Deutsche Bank AG acquired a new position in First Solar during the second quarter worth $212,626,000. Bank of America Corp DE purchased a new position in shares of First Solar during the second quarter valued at approximately $171,043,000. Finally, Bank of New York Mellon Corp bought a new position in shares of First Solar during the second quarter valued at about $164,962,000. 92.08% of the stock is currently owned by institutional investors.

Key Stories Impacting First Solar

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: First Solar added 1.4 gigawatts of U.S. gross bookings at $0.36 per watt, indicating continued demand and pricing strength in its domestic market. The board also authorized a share-repurchase program of up to $500 million, which could support per-share value. First Solar: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: First Solar’s third-quarter adjusted earnings of $5.30 per share exceeded the $4.67 analyst consensus, highlighting strong margins and better-than-expected profitability despite lower sales. FSLR Q3 deep dive: bookings slowdown and pricing strength amid policy uncertainty
• Neutral Sentiment: BNP Paribas Exane initiated research coverage on FSLR, adding another institutional view of the company but without a disclosed rating or price target in the available report. First Solar Research Coverage Started at BNP Paribas Exane
• Negative Sentiment: Barclays cut its First Solar price target to $230 from $259. Needham, Sanford C. Bernstein, Morgan Stanley, Wells Fargo and RBC also reduced their targets, creating a broad negative analyst-revision signal. Barclays Adjusts Price Target on First Solar to $230 From $259
• Negative Sentiment: Third-quarter revenue fell 22.8% year over year to $1.23 billion and missed estimates. Management’s full-year revenue outlook of $4.75 billion at the midpoint was 5.7% below consensus, while the report cited slower bookings and policy uncertainty. FSLR Q3 deep dive: bookings slowdown and pricing strength amid policy uncertainty

First Solar Company Profile

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.