Roth Capital Reiterates Buy Rating for First Solar (NASDAQ:FSLR)

First Solar (NASDAQ:FSLR)‘s stock had its “buy” rating reaffirmed by Roth Capital in a report issued on Friday,Benzinga reports. They currently have a $300.00 price objective on the solar cell manufacturer’s stock. Roth Capital’s price target indicates a potential upside of 47.29% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. UBS Group increased their target price on shares of First Solar from $290.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. The Goldman Sachs Group upped their price objective on shares of First Solar from $300.00 to $310.00 in a research report on Friday, May 1st. Guggenheim raised their target price on shares of First Solar from $269.00 to $279.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Barclays boosted their target price on shares of First Solar from $213.00 to $279.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, Susquehanna upped their price target on shares of First Solar from $250.00 to $270.00 and gave the stock a “positive” rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $257.10.

First Solar Price Performance

Shares of FSLR traded down $2.25 during midday trading on Friday, hitting $203.67. The company’s stock had a trading volume of 440,522 shares, compared to its average volume of 2,360,937. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. First Solar has a one year low of $171.99 and a one year high of $320.95. The stock has a market capitalization of $21.88 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 0.46 and a beta of 1.73. The company’s fifty day simple moving average is $249.20 and its two-hundred day simple moving average is $227.09.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.First Solar’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.95 EPS. As a group, equities analysts expect that First Solar will post 17.54 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Markus Gloeckler sold 420 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $90,564.60. Following the sale, the chief technology officer owned 10,896 shares of the company’s stock, valued at $2,349,504.48. The trade was a 3.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Caroline Stockdale sold 10,628 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $275.60, for a total value of $2,929,076.80. Following the transaction, the insider directly owned 23,792 shares of the company’s stock, valued at approximately $6,557,075.20. This represents a 30.88% 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. Over the last ninety days, insiders sold 31,893 shares of company stock worth $7,893,775. Company insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On First Solar

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in First Solar during the 4th quarter valued at approximately $392,040,000. Viking Global Investors LP increased its position in shares of First Solar by 60.6% during the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after buying an additional 854,919 shares during the period. Polar Capital Holdings Plc acquired a new stake in shares of First Solar during the fourth quarter worth $200,109,000. Lightrock Netherlands B.V. raised its stake in First Solar by 2,663.8% during the fourth quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer’s stock worth $174,059,000 after buying an additional 642,199 shares during the last quarter. Finally, Amundi lifted its holdings in First Solar by 38.6% in the third quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock valued at $459,917,000 after buying an additional 564,032 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting First Solar

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

• Positive Sentiment: Solar industry sentiment remains constructive after reports that U.S. solar farm output hit a record high, supported by rising electricity demand from AI data centers, which could improve the long-term backdrop for First Solar. US Solar Power Just Hit a Record High as AI Data Centers Push Electricity Demand to New Highs
• Positive Sentiment: Analyst commentary continues to frame First Solar as a potential earnings-beat candidate, and TD Cowen recently reiterated a Buy rating, helping offset some of the legal overhang. First Solar (FSLR) Expected to Beat Earnings Estimates: Should You Buy? First Solar (FSLR) Gets a Buy from TD Cowen
• Neutral Sentiment: Recent market pieces note FSLR has been volatile versus the broader market, reflecting mixed trading rather than a clear change in business fundamentals. Here’s Why First Solar (FSLR) Fell More Than Broader Market
• Negative Sentiment: Several firms, including The Gross Law Firm, Schall, Kaplan Fox, Faruqi & Faruqi, Rosen, Pomerantz, and others, are pushing the August 24 lead-plaintiff deadline in a securities-fraud class action against First Solar, increasing legal uncertainty and potential distraction for management. FSLR DEADLINE: The Gross Law Firm Reminds First Solar, Inc. Investors of Upcoming Securities Class Action Deadline
• Negative Sentiment: The lawsuit alleges First Solar and certain officers violated federal securities laws during the class period, which can weigh on sentiment even before any court outcome. Pomerantz Law Firm Announces the Filing of a Class Action Against First Solar, Inc. and Certain Officers – FSLR

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.