Fintel reports that on September 8, 2023, UBS maintained coverage of First Solar (NASDAQ:FSLR) with a Buy recommendation.
Analyst Price Forecast Suggests 35.79% Upside
As of August 31, 2023, the average one-year price target for First Solar is 248.78. The forecasts range from a low of 159.14 to a high of $348.60. The average price target represents an increase of 35.79% from its latest reported closing price of 183.21.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for First Solar is 3,428MM, an increase of 14.64%. The projected annual non-GAAP EPS is 3.94.
What is the Fund Sentiment?
There are 1446 funds or institutions reporting positions in First Solar. This is a decrease of 31 owner(s) or 2.10% in the last quarter. Average portfolio weight of all funds dedicated to FSLR is 0.32%, a decrease of 11.00%. Total shares owned by institutions increased in the last three months by 0.35% to 99,139K shares. 
The put/call ratio of FSLR is 1.11, indicating a bearish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 6,466K shares representing 6.05% ownership of the company. In it's prior filing, the firm reported owning 1,025K shares, representing an increase of 84.14%. The firm increased its portfolio allocation in FSLR by 3,815.11% over the last quarter.
SEEGX - JPMorgan Large Cap Growth Fund Class I holds 4,098K shares representing 3.84% ownership of the company.
Invesco holds 3,341K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 2,885K shares, representing an increase of 13.66%. The firm increased its portfolio allocation in FSLR by 927.67% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,160K shares representing 2.96% ownership of the company. In it's prior filing, the firm reported owning 3,133K shares, representing an increase of 0.84%. The firm decreased its portfolio allocation in FSLR by 18.68% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 2,365K shares representing 2.21% ownership of the company. In it's prior filing, the firm reported owning 2,313K shares, representing an increase of 2.19%. The firm decreased its portfolio allocation in FSLR by 19.07% over the last quarter.
First Solar Background Information
(This description is provided by the company.)
First Solar is a leading global provider of comprehensive photovoltaic (PV) solar solutions, which use its advanced module and system technology. The company's integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. From raw material sourcing through end-of-life module recycling, First Solar's renewable energy solutions protect and enhance the environment.
Additional reading:
- FIRST SOLAR, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) June 30, 2023 December 31, 2022 ASSETS Current assets: Cash and cash equivalents $ 829,913 $ 1,481,269 Marketable securities 1,054,044 1,096,712 Accounts receiv
- BYLAWS FIRST SOLAR, INC. (hereinafter called the “Corporation”) AMENDED AND RESTATED AS OF JULY 20, 2023 ARTICLE I Meetings of Stockholders
- REVOLVING CREDIT AND GUARANTY AGREEMENT dated as of June 30, 2023 FIRST SOLAR, INC. The Guarantors Party hereto The Lenders Party Hereto JPMORGAN CHASE BANK, N.A., as Administrative Agent JPMORGAN CHASE BANK, N.A., BOFA SECURITIES, INC., CITIBANK, N.
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