11 Oversold Blue Chip Stocks to Buy According to Hedge Funds

8. First Solar, Inc. (NASDAQ:FSLR)

% Decline Over Past One Year: ~14.2%

Number of Hedge Fund Holders: 65

Market Cap as on March 7: $14.8 billion

First Solar, Inc. (NASDAQ:FSLR) is a solar technology company, which is engaged in providing photovoltaic (PV) solar energy solutions. Analyst Ameet Thakkar from BMO Capital reiterated a “Buy” rating on the company’s stock. The rating stemmed from factors reflecting the company’s potential for growth and value. As per the analyst, the favourable outlook on revenue is expected to help take some pressure off First Solar, Inc. (NASDAQ:FSLR)’s stock price over the short term. Furthermore, the analyst opines that the factors impacting margins, including increased logistics costs, are temporary.

Elsewhere, analyst Jeff Osborne of TD Cowen also maintained a “Buy” rating on the company’s stock, retaining the price objective of $275.00. As per the analyst, First Solar, Inc. (NASDAQ:FSLR)’s CuRe launch continues to progress as planned, and there is stability in the average selling price in the backlog, aiding future revenue. Overall, the analyst believes that any sort of weakness in the stock can be considered as a buying opportunity, considering First Solar, Inc. (NASDAQ:FSLR)’s strategic initiatives and long-term growth potential.

The solar industry, mainly First Solar, Inc. (NASDAQ:FSLR), is significantly influenced by government policies and regulations. The company appears to be well-positioned to benefit from the policies because of its strong US manufacturing presence. For 2025, the company expects net sales in the range of $5.3 billion – $5.8 billion, and gross margin of between $2.45 billion – $2.75 billion.