First Solar (NASDAQ:FSLR) Given New $305.00 Price Target at Seaport Global Securities

First Solar (NASDAQ:FSLR) had its price target hoisted by Seaport Global Securities from $217.00 to $305.00 in a report issued on Tuesday,MarketScreener reports. The brokerage currently has a “buy” rating on the solar cell manufacturer’s stock. Seaport Global Securities’ target price indicates a potential upside of 14.35% from the company’s previous close.

FSLR has been the topic of several other research reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $316.00 price target on shares of First Solar in a research report on Friday. Deutsche Bank Aktiengesellschaft upped their target price on shares of First Solar from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Needham & Company LLC started coverage on shares of First Solar in a research report on Wednesday, October 22nd. They set a “buy” rating and a $286.00 price target on the stock. Jefferies Financial Group set a $269.00 price target on shares of First Solar and gave the stock a “buy” rating in a report on Friday. Finally, TD Cowen raised their price objective on shares of First Solar from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $270.09.

First Solar Stock Up 1.5%

Shares of NASDAQ:FSLR opened at $266.72 on Tuesday. First Solar has a 1 year low of $116.56 and a 1 year high of $275.08. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. The business’s 50-day moving average is $221.85 and its 200-day moving average is $185.70. The company has a market capitalization of $28.62 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 0.46 and a beta of 1.51.

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

Insider Buying and Selling at First Solar

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

Institutional Investors Weigh In On First Solar

Several large investors have recently added to or reduced their stakes in FSLR. Teacher Retirement System of Texas bought a new stake in shares of First Solar during the 1st quarter valued at about $1,880,000. Mutual Advisors LLC raised its position in shares of First Solar by 27.9% during the 1st quarter. Mutual Advisors LLC now owns 1,871 shares of the solar cell manufacturer’s stock valued at $237,000 after buying an additional 408 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in shares of First Solar by 4.3% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 2,243 shares of the solar cell manufacturer’s stock worth $284,000 after acquiring an additional 92 shares during the last quarter. Alps Advisors Inc. grew its position in First Solar by 1.0% in the first quarter. Alps Advisors Inc. now owns 37,847 shares of the solar cell manufacturer’s stock worth $4,785,000 after acquiring an additional 364 shares in the last quarter. Finally, Hunter Associates Investment Management LLC bought a new position in First Solar in the first quarter valued at $272,000. 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.