First Solar (NASDAQ:FSLR) Stock Gets Price Target Cut from Robert W. Baird

First Solar (NASDAQ:FSLR) had its price objective trimmed by Robert W. Baird from $290.00 to $266.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an outperform rating on the solar cell manufacturer’s stock.

FSLR has been the subject of several other research reports. Susquehanna reiterated a “positive” rating and set a $246.00 price target on shares of First Solar in a research report on Friday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of First Solar in a report on Friday, October 30th. BMO Capital Markets reiterated an “outperform” rating and set a $255.00 target price on shares of First Solar in a research report on Friday, October 30th. Truist Financial raised First Solar from a “hold” rating to a “buy” rating and increased their price target for the company from $229.00 to $270.00 in a research note on Monday, October 12th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $199.00 price target on shares of First Solar in a research report on Friday, October 16th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.38.

First Solar Stock Up 4.6%

Shares of FSLR stock opened at $194.51 on Monday. The stock has a 50-day moving average price of $187.38 and a 200 day moving average price of $215.40. The firm has a market cap of $20.91 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 0.50 and a beta of 1.73. First Solar has a 12 month low of $165.86 and a 12 month high of $320.95.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, October 29th. The solar cell manufacturer reported $5.30 earnings per share for the quarter, topping 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 firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the business posted $4.24 EPS. The company’s quarterly revenue was down 22.8% compared to the same quarter last year. Sell-side analysts predict that First Solar will post 17.66 earnings per share for the current fiscal year.

Insider Activity at First Solar

In related news, General Counsel Jason Dymbort sold 3,700 shares of First Solar stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $249.38, for a total transaction of $922,706.00. Following the transaction, the general counsel owned 5,624 shares of the company’s stock, valued at $1,402,513.12. This trade represents a 39.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Samantha Sloan sold 127 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $222.95, for a total transaction of $28,314.65. Following the transaction, the executive vice president owned 2,018 shares of the company’s stock, valued at approximately $449,913.10. This represents a 5.92% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 5,427 shares of company stock worth $1,250,221 in the last ninety days. Company insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On First Solar

A number of hedge funds and other institutional investors have recently made changes to their positions in FSLR. BlackRock Inc. bought a new stake in shares of First Solar during the second quarter worth $3,310,298,000. Hill City Capital LP bought a new stake in First Solar in the 2nd quarter valued at $620,133,555. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in First Solar by 7.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,535,836 shares of the solar cell manufacturer’s stock valued at $362,396,000 after acquiring an additional 100,694 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in First Solar by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,305,471 shares of the solar cell manufacturer’s stock worth $257,441,000 after purchasing an additional 56,300 shares during the period. Finally, Pictet Asset Management Holding SA boosted its stake in First Solar by 9.6% in the 3rd quarter. Pictet Asset Management Holding SA now owns 1,254,076 shares of the solar cell manufacturer’s stock worth $219,666,000 after purchasing an additional 110,031 shares during the period. 92.08% of the stock is owned by institutional investors.

More First Solar News

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

• Positive Sentiment: Investors anticipate that Democratic control of Congress could improve prospects for federal support of renewable energy and domestic solar manufacturing, lifting First Solar and other clean-energy shares. The extent and timing of any policy changes remain uncertain. Article: First Solar Jumps as Democratic Sweep Revives Clean-Energy Hopes
• Positive Sentiment: First Solar’s U.S. manufacturing footprint may also benefit from existing tariffs that support its competitive position against imported solar products. Article: First Solar Jumps After Democratic Sweep, but Tariffs Already Favor It
• Positive Sentiment: Options activity pointed to bullish positioning: traders bought 67,156 FSLR call options, 128% above the average volume reported in the article.
• Neutral Sentiment: The rally was part of a broader market rotation into clean-energy stocks after the election. The policy shift may change investor expectations, but it does not immediately alter company earnings, and the legislative path remains uncertain. Article: “Blue Trade” Sends First Solar and Sunrun Soaring
• Negative Sentiment: Barclays and Guggenheim each cut their price target on First Solar, providing a counterpoint to the election-driven optimism. The available reports do not specify the revised targets. Article: First Solar Price Target Cut by Barclays Article: First Solar Price Target Cut by Guggenheim

About First Solar

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.