First Solar Slides Below $192 as Analysts Adjust Targets Following Earnings

First Solar Inc. experienced sharp share declines on November 09, 2026, falling 6.04% to close at $190.59 according to GuruFocus, while trading as low as $190.51 and ending around $191.61 across subsequent reporting. The downward movement came amid broader market crosscurrents and marked a sharp turn after the equity had climbed above its 50-day moving average of $187.38 just days prior, when it reached an intraday high of $214.87.

The recent price slump followed research notes from Wall Street brokerages adjusting their expectations. Analysts at Piper Sandler reduced their price target on the stock from $251.00 to $222.00, though they kept an overweight rating. According to MarketBeat, the consensus rating among analysts stands at Moderate Buy, with an average price target of $256.38. Earlier, Royal Bank of Canada reduced its target from $236.00 to $232.00, and Wells Fargo lowered its objective from $313.00 to $260.00, while William Blair upgraded the shares to outperform.

Fundamental results reported on October 29th showed mixed financial performance. First Solar posted quarterly earnings per share of $5.30, surpassing consensus analyst estimates of $4.67. However, quarterly revenue of $1.23 billion missed the expected $1.29 billion, representing a 22.8% decline from the prior-year period. Full-year earnings per share are projected by consensus estimates to reach 17.66, with Zacks research noting an expected expansion to $24.53 for the following fiscal year.

Valuation models from GuruFocus indicate the manufacturer remains undervalued. The proprietary GF Value estimate placed intrinsic worth at $231.52, pointing to a discount of roughly 17% to 17.7%. In addition, the company carries a price-to-earnings ratio of roughly 11x, which rests well under its five-year median mark of about 19.3x, and holds an overall GF Score of 89 out of 100 based on balance sheet strength and growth metrics.

Despite these valuation markers, investor sentiment has been tempered by sustained insider divestments. Regulatory disclosures show company insiders sold $28.6 million in shares over the past 12 months without any recorded purchases. In the last 90 days alone, insiders offloaded 5,427 shares valued at $1,250,221, including automated trades by Chief Technology Officer Markus Gloeckler and General Counsel Jason Dymbort.