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BMO Capital Maintains First Solar (FSLR) Market Perform Recommendation

Fintel reports that on July 28, 2023, BMO Capital maintained coverage of First Solar (NASDAQ:FSLR) with a Market Perform recommendation.

Analyst Price Forecast Suggests 9.75% Upside

As of July 6, 2023, the average one-year price target for First Solar is 228.72. The forecasts range from a low of 159.14 to a high of $290.85. The average price target represents an increase of 9.75% from its latest reported closing price of 208.40.

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 1475 funds or institutions reporting positions in First Solar. This is an increase of 94 owner(s) or 6.81% in the last quarter. Average portfolio weight of all funds dedicated to FSLR is 0.36%, a decrease of 1.12%. Total shares owned by institutions increased in the last three months by 1.20% to 96,674K shares. The put/call ratio of FSLR is 1.29, indicating a bearish outlook.

What are Other Shareholders Doing?

FSLR / First Solar Inc Shares Held by Institutions

Ofi Invest Asset Management holds 3,662K shares representing 3.43% ownership of the company.

Capital Research Global Investors holds 3,179K shares representing 2.98% ownership of the company. In it’s prior filing, the firm reported owning 2,583K shares, representing an increase of 18.75%. The firm increased its portfolio allocation in FSLR by 68.76% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,133K shares representing 2.93% ownership of the company. In it’s prior filing, the firm reported owning 3,078K shares, representing an increase of 1.76%. The firm increased its portfolio allocation in FSLR by 36.48% over the last quarter.

Wellington Management Group Llp holds 3,105K shares representing 2.91% ownership of the company. In it’s prior filing, the firm reported owning 4,005K shares, representing a decrease of 28.96%. The firm decreased its portfolio allocation in FSLR by 84.29% over the last quarter.

Invesco holds 2,885K shares representing 2.70% ownership of the company. In it’s prior filing, the firm reported owning 3,444K shares, representing a decrease of 19.38%. The firm decreased its portfolio allocation in FSLR by 89.28% 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:

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.

Summarize this content to 100 words

Fintel reports that on July 28, 2023, BMO Capital maintained coverage of First Solar (NASDAQ:FSLR) with a Market Perform recommendation. Analyst Price Forecast Suggests 9.75% Upside As of July 6, 2023, the average one-year price target for First Solar is 228.72. The forecasts range from a low of 159.14 to a high of $290.85. The average price target represents an increase of 9.75% from its latest reported closing price of 208.40.

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 1475 funds or institutions reporting positions in First Solar. This is an increase of 94 owner(s) or 6.81% in the last quarter. Average portfolio weight of all funds dedicated to FSLR is 0.36%, a decrease of 1.12%. Total shares owned by institutions increased in the last three months by 1.20% to 96,674K shares. The put/call ratio of FSLR is 1.29, indicating a bearish outlook. What are Other Shareholders Doing? Ofi Invest Asset Management holds 3,662K shares representing 3.43% ownership of the company. Capital Research Global Investors holds 3,179K shares representing 2.98% ownership of the company. In it’s prior filing, the firm reported owning 2,583K shares, representing an increase of 18.75%. The firm increased its portfolio allocation in FSLR by 68.76% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,133K shares representing 2.93% ownership of the company. In it’s prior filing, the firm reported owning 3,078K shares, representing an increase of 1.76%. The firm increased its portfolio allocation in FSLR by 36.48% over the last quarter. Wellington Management Group Llp holds 3,105K shares representing 2.91% ownership of the company. In it’s prior filing, the firm reported owning 4,005K shares, representing a decrease of 28.96%. The firm decreased its portfolio allocation in FSLR by 84.29% over the last quarter. Invesco holds 2,885K shares representing 2.70% ownership of the company. In it’s prior filing, the firm reported owning 3,444K shares, representing a decrease of 19.38%. The firm decreased its portfolio allocation in FSLR by 89.28% 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. FIRST SOLAR, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) March 31, 2023 December 31, 2022 ASSETS Current assets: Cash and cash equivalents $ 906,634 $ 1,481,269 Marketable securities 1,364,607 1,096,712 Accounts recei Form of Grant Notice for 2023-2025 Executive Performance Equity Plan 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.

https://www.nasdaq.com/articles/bmo-capital-maintains-first-solar-fslr-market-perform-recommendation BMO Capital Maintains First Solar (FSLR) Market Perform Recommendation

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