TLDR
- FSLR jumped 7.73% to $263 in after-hours trading Thursday after the Trump administration announced Section 232 trade measures on Chinese polysilicon imports.
- The measures include a 15% tariff and minimum import-price requirements, set to take effect December 4.
- Wells Fargo raised its price target to $313 from $300, maintaining an overweight rating.
- First Solar posted Q2 EPS of $3.92, beating the $2.90 consensus estimate by over $1.
- A securities class-action lawsuit has been filed, with an August 24 lead-plaintiff deadline.
First Solar (FSLR) closed the regular session Thursday at $244.14, up 3.10%, before jumping a further 7.73% to $263 in after-hours trading.
The move came after the Trump administration announced Section 232 trade measures targeting Chinese polysilicon imports under the Trade Expansion Act.
The measures include a 15% tariff and minimum import-price requirements on polysilicon and downstream products. They are scheduled to take effect on December 4.
TRUMP SETS POLYSILICON TARIFFS AND PRICE FLOORS
President Trump signed a Section 232 action imposing a 15% ad valorem tariff on polysilicon derivative imports. $FSLR
The US will also set minimum import prices of $21 per kilogram for polysilicon and $100 per kilogram for… pic.twitter.com/WS4Kt6FWWD
— Wall St Engine (@wallstengine) August 6, 2026
China currently controls more than 90% of global polysilicon supply. First Solar called that concentration a security risk tied to forced labor exposure and anti-competitive pricing.
CEO Mark Widmar called the action “one of the most strategically significant trade measures in decades.” He said enforcement mechanisms are designed to close loopholes exploited by China-linked supply chains.
First Solar publicly backed the measures, which plays to its advantage. The company uses its own cadmium-telluride technology and does not rely on Chinese crystalline silicon supply chains.
It operates five US manufacturing plants across Alabama, Louisiana, and Ohio, with a sixth under construction in South Carolina. The company expects to invest over $5 billion in domestic manufacturing and R&D by year-end.
First Solar is targeting approximately 17 GW of US module capacity by 2027.
Analyst Targets Move Higher
Wells Fargo raised its price target on FSLR to $313 from $300 on Friday, keeping an overweight rating. The bank said the tariff and price-floor policy could deliver greater benefits than previously expected.
Citigroup’s Vikram Bagri maintained a Buy rating on Monday, lifting his target to $297 from $294. Guggenheim’s Joseph Osha also kept a Buy, raising his target to $282 from $279.
Truist Financial held a hold rating, but trimmed its target to $229 from $249. Oppenheimer kept a market perform rating. The consensus sits at Moderate Buy with an average target of $254.89.
Q2 Earnings Beat, Revenue Dips
First Solar reported Q2 earnings of $3.92 per share, beating the $2.90 consensus by over $1. Revenue came in at $1.056 billion, just below the $1.062 billion estimate.
Revenue was down 3.4% year over year. Analysts expect full-year EPS of $17.75.
Over the past three months, insiders sold a total of 38,505 shares worth roughly $9.4 million, including CEO Widmar selling 9,926 shares in May.
The stock has a 52-week range of $176.47 to $320.95 and has gained 31.96% over the past 12 months.
There is one other item worth watching. Several law firms have publicized a securities class-action lawsuit alleging inadequate disclosure of production underutilization and onshoring costs. The lead-plaintiff deadline is August 24.
