Streetbeat News

FSLR

First Solar, Inc.

https://www.firstsolar.com

Industry

Solar

First Solar, Inc. provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners. The company was formerly known as First Solar Holdings, Inc. and changed its name to First Solar, Inc. in 2006. First Solar, Inc. was founded in 1999 and is headquartered in Tempe, Arizona.

Open

194.75

Mkt cap

21B

Volume

3.9M

High

199.42

P/E Ratio

16.94

52-wk high

306.77

Low

188.21

Div yield

N/A

52-wk low

129.22

First Solar (NASDAQ:FSLR) reported Q2 2024 earnings per share (EPS) of $3.25, surpassing the analyst estimate of $2.72 by 19.49%. The company also reported sales of $1.01 billion, exceeding the $941.54 million estimate by 7.27%. This marks a 24.59% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 8:03 pm

Tech stocks experienced a significant drop ahead of key earnings reports and the Federal Open Market Committee meeting. Nvidia fell over 6%, impacting the semiconductor sector and the iShares Semiconductor ETF. CrowdStrike hit an 8-month low after Delta Air Lines sought compensation for an outage. Microsoft, Apple, Alphabet, and Meta also saw declines. The Nasdaq 100 dropped 1.5%, while the S&P 500 fell 0.8%. The iShares Russell 2000 ETF outperformed tech stocks. Treasury yields remained steady, and gold edged up.

Portfolio Pulse from Piero Cingari

July 30, 2024 | 5:43 pm

First Solar Inc (NASDAQ:FSLR) shares are flat as investors await the company's second-quarter earnings report. Analysts expect EPS of $2.69 and revenue of $941.538 million. The stock has recently fallen due to increased tariffs on Chinese solar panels and market oversupply concerns.

Portfolio Pulse from Henry Khederian

July 30, 2024 | 4:50 pm

Nasdaq and S&P futures rise as traders anticipate earnings from Microsoft and AMD, and the Federal Reserve's rate-setting meeting. Positive sentiment is driven by expectations of rate cuts in September. Key companies reporting earnings include Microsoft, AMD, and others. F5, Inc. jumps in premarket trading, while Rambus, Lattice Semiconductor, and others decline.

Portfolio Pulse from Shanthi Rexaline

July 30, 2024 | 11:27 am

The Biden administration has doubled the U.S. tariff on Chinese solar panels to 50%, aiming to protect the domestic market from China's predatory behavior. First Solar's CEO, Mark Widmar, supports the move, emphasizing the need for a level playing field for U.S. manufacturers. The news comes ahead of First Solar's second-quarter earnings report. The tariff increase is seen as a measure to counteract China's oversupply of solar panels, which has been flooding international markets. The announcement has impacted the stock prices of First Solar and several clean energy ETFs.

Portfolio Pulse from Michael Juliano

July 29, 2024 | 8:03 pm

The upcoming week is crucial for tech stocks as major companies like Apple, Amazon, Microsoft, and Meta are set to report their earnings. Last week's earnings were mixed, with Tesla, Alphabet, and STMicroelectronics disappointing investors. However, IBM saw positive reactions due to strong AI bookings. Analysts are optimistic about the tech sector's future, especially with significant AI investments expected. The Invesco QQQ Trust and SPDR S&P 500 ETF Trust showed mixed performance last week.

Portfolio Pulse from Shanthi Rexaline

July 29, 2024 | 10:25 am

Financial giants have shown a bullish interest in First Solar (NASDAQ:FSLR) through significant options trades. Analysis reveals a mix of bullish and bearish sentiments, with a notable price window of $135.0 to $300.0. The stock is currently trading at $228.42, up by 5.66%, with an anticipated earnings release in 4 days. Analysts have set an average target price of $287.8.

Portfolio Pulse from Benzinga Insights

July 26, 2024 | 4:30 pm

Investors have taken a bearish stance on First Solar (NASDAQ:FSLR) as observed through recent options market activity. Benzinga's options scanner detected 8 significant trades, with a majority being bearish. The stock is currently trading at $221.95 with an upcoming earnings announcement in 8 days. Analysts have mixed ratings with an average target price of $293.8.

Portfolio Pulse from Benzinga Insights

July 22, 2024 | 2:46 pm

First Solar shares are trading higher after Piper Sandler maintained an Overweight rating on the stock and raised its price target from $219 to $250.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 11:54 am

Piper Sandler analyst Kashy Harrison maintains an Overweight rating on First Solar (NASDAQ:FSLR) and raises the price target from $219 to $250.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 11:29 am

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