First Solar, Inc. (FSLR) Stock Price & How to Invest

First Solar is one of the largest solar panel manufacturers in the United States and the leading maker of thin-film solar modules. Unlike most competitors that use crystalline silicon, First Solar uses a cadmium telluride (CdTe) thin-film technology that it developed and manufactures at scale. This gives it a differentiated cost structure, strong performance in hot and humid climates, and a supply chain largely independent of the Chinese silicon ecosystem. The company sells utility-scale solar modules primarily to large developers and power producers building solar farms, mainly in the US, India, and other markets. First Solar makes money by manufacturing and selling these modules, and its US-based production qualifies for domestic manufacturing incentives. Headquartered in Tempe, Arizona, First Solar has expanded capacity aggressively across Ohio, Alabama, Louisiana, and India. It benefits from policy support for domestic clean energy manufacturing and from buyers seeking non-Chinese solar supply.

First Solar's fortunes are closely tied to policy, particularly US clean energy manufacturing incentives, which could change with political shifts. Solar is a cyclical, competitive industry with persistent pricing pressure from low-cost Chinese silicon panels. Oversupply, tariffs, and trade disputes can swing economics quickly. The company also faces technology risk, since its thin-film approach must keep pace with improving silicon efficiency. Interest rates affect utility-scale project economics, and large customers can delay or cancel projects. Manufacturing ramp execution, warranty issues, and module quality concerns are additional risks for a capital-intensive business that depends on flawless large-scale production.

28 analysts publish price targets on FSLR, averaging $256.36 against a $200.60 price as of July 2026, or +27.8%. The published targets run from $150.00 to $330.00, a wide spread, and the ratings split 22 buy, 12 hold, 2 sell. Over the last six months there have been 9 raises and 0 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full FSLR forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on First Solar, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Domestic manufacturing incentives. First Solar is a major beneficiary of US policy supporting domestic clean energy manufacturing, including production tax credits for US-made solar modules. The most optimistic published target, $330.00, assumes this works close to its best case.

The case against. First Solar's fortunes are closely tied to policy, particularly US clean energy manufacturing incentives, which could change with political shifts. The most pessimistic target, $150.00, is roughly what FSLR is worth if this bites instead.

Read the full bull and bear case on FSLR, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see First Solar, Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$4 to 5 billion
• Operating margin: ~high teens to mid-twenties percent
• Net income (TTM): ~$1 billion or more
• Contracted backlog: ~tens of gigawatts, multi-year
• Cash position: ~strong net cash
• Market cap: ~low tens of billions

First Solar is valued as a profitable, policy-advantaged solar manufacturer with substantial contracted backlog. Investors weigh strong current margins and incentive support against the cyclicality and pricing pressure of the broader solar industry. The valuation reflects both the durability of its domestic manufacturing position and sensitivity to policy and trade developments.

If you want FSLR exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

These are the investment theses FSLR naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.

Other names that sit close to FSLR: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get FSLR exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (ICLN, TAN, ACES), which spreads the position across many companies. Or build it into a focused thematic portfolio, so FSLR sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where FSLR fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

First Solar (FSLR) is a domestically advantaged solar manufacturer whose multi-year backlog and US production credits give it more margin durability than typical solar names, while its thin-film approach hedges polysilicon volatility. In a portfolio it acts as a cyclical clean-energy and domestic-manufacturing holding with no dividend, strong current profitability, and sharp sensitivity to policy, trade, and solar pricing.

Whether FSLR is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is FSLR a buy or a sell?, and where the stock could go from here in the FSLR stock forecast.

For income investors, whether FSLR pays a dividend and how the payout looks is covered in does FSLR pay a dividend? And to weigh FSLR against a peer, read the full side-by-side comparisons: FSLR vs ENPH and FSLR vs NEE.