On February 2, 2023, B of A Securities downgraded their outlook for First Solar from Buy to Neutral.
Analyst Price Forecast Suggests 5.79% Downside
As of February 2, 2023, the average one-year price target for First Solar is $169.72. The forecasts range from a low of $47.27 to a high of $244.65. The average price target represents a decrease of 5.79% from its latest reported closing price of $180.15.
The projected annual revenue for First Solar is $3,428MM, an increase of 35.80%. The projected annual EPS is $3.94, an increase of 342.29%.
What are large shareholders doing?
Wellington Management Group Llp holds 4,320,970 shares representing 4.05% ownership of the company. In it's prior filing, the firm reported owning 3,677,894 shares, representing an increase of 14.88%. The firm increased its portfolio allocation in FSLR by 141.24% over the last quarter.
Schroder Investment Management Group holds 3,041,857 shares representing 2.85% ownership of the company. In it's prior filing, the firm reported owning 3,386,469 shares, representing a decrease of 11.33%. The firm increased its portfolio allocation in FSLR by 89.42% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 2,896,903 shares representing 2.72% ownership of the company. In it's prior filing, the firm reported owning 2,842,237 shares, representing an increase of 1.89%. The firm increased its portfolio allocation in FSLR by 98.86% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,862,985 shares representing 2.69% ownership of the company. In it's prior filing, the firm reported owning 2,821,503 shares, representing an increase of 1.45%. The firm increased its portfolio allocation in FSLR by 105.35% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 2,435,783 shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 2,421,016 shares, representing an increase of 0.61%. The firm increased its portfolio allocation in FSLR by 103.69% over the last quarter.
Fund Sentiment
There are 1086 funds or institutions reporting positions in First Solar. This is an increase of 178 owner(s) or 19.60%.
Average portfolio weight of all funds dedicated to US:FSLR is 0.3989%, an increase of 31.5204%. Total shares owned by institutions increased in the last three months by 10.06% to 92,070K shares.
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.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
