First Solar Stock: Is FSLR Outperforming the Technology Sector?

Tempe, Arizona-based First Solar, Inc. (FSLR) operates as a solar technology company providing photovoltaic (PV) solar energy solutions. With a market cap of $22.6 billion, First Solar’s operations span the Americas, Europe, the Indo-Pacific, and internationally.

Companies worth $10 billion or more are generally described as "large-cap stocks." First Solar fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the solar industry.

FSLR stock touched its 52-week high of $281.55 on Nov. 5 and is currently trading 8.5% below that peak. Meanwhile, FSLR stock has soared 25.6% over the past three months, outpacing the Technology Select Sector SPDR Fund’s (XLK) 11.5% gains during the same time frame.

Further, First Solar’s performance has remained impressive over the longer term as well. FSLR stock has surged 46.2% on a YTD basis and 30.2% over the past 52 weeks, compared to XLK’s 26.1% gains in 2025 and 22.2% returns over the past year.

FSLR stock has traded mostly above its 50-day moving average since May, with some fluctuations, and consistently above its 200-day moving average since mid-July, underscoring its bullish trend.

First Solar’s stock prices soared 14.3% in the trading session following the release of its impressive Q3 results on Oct. 30. The company sold a record 5.3 GW of energy during the quarter, boosting its revenues. Overall, First Solar’s topline for the quarter soared 45.4% year-over-year to $1.6 billion. Meanwhile, its EPS grew 33.3% year-over-year to $4.24, and operating cash flows skyrocketed 100.3% year-over-year to $815.2 million. Moreover, as of Sept. 30, First Solar had a contracted sales backlog of 53.7 GW, valued at $16.4 billion, boosting investor confidence.

Despite its solid performance, FSLR stock has notably lagged behind its peer Nextpower Inc.’s (NXT) 148% surge in 2025 and 148.7% returns over the past 52 weeks.

Among the 32 analysts covering the FSLR stock, the consensus rating is a “Strong Buy.” As of writing, FSLR’s mean price target of $268.51 suggests a modest 4.2% upside potential.