First Solar (NASDAQ:FSLR) CEO Mark Widmar Sells 4,815 Shares of Stock

First Solar, Inc. (NASDAQ:FSLR) CEO Mark Widmar sold 4,815 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $247.43, for a total transaction of $1,191,375.45. Following the sale, the chief executive officer directly owned 89,033 shares of the company’s stock, valued at approximately $22,029,435.19. The trade was a 5.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Solar Price Performance

FSLR opened at $257.85 on Friday. First Solar, Inc. has a one year low of $135.50 and a one year high of $285.99. The stock has a market capitalization of $27.71 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 0.55 and a beta of 1.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. The company’s 50 day simple moving average is $205.04 and its 200-day simple moving average is $231.20.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm earned $1.95 earnings per share. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. Sell-side analysts anticipate that First Solar, Inc. will post 17.64 earnings per share for the current fiscal year.

First Solar News Summary

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: First Solar announced a partnership with GameChange Solar to support wider use of its domestically manufactured thin-film modules in India, a move that could improve demand visibility and reduce supply-chain or compliance concerns. Why First Solar (FSLR) Stock Is Trading Up Today
• Positive Sentiment: Guggenheim raised its price target on First Solar to $279 from $269 and reiterated a Buy rating, signaling continued analyst confidence in the stock’s upside potential. MarketScreener

Institutional Trading of First Solar

Several institutional investors and hedge funds have recently made changes to their positions in the company. Linden Thomas Advisory Services LLC raised its holdings in shares of First Solar by 1.7% in the third quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock valued at $504,000 after purchasing an additional 39 shares during the last quarter. Apollon Wealth Management LLC boosted its position in First Solar by 1.2% during the fourth quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer’s stock worth $942,000 after purchasing an additional 44 shares during the period. Root Financial Partners LLC boosted its position in First Solar by 18.2% during the fourth quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer’s stock worth $76,000 after purchasing an additional 45 shares during the period. FIL Ltd boosted its position in First Solar by 6.9% during the fourth quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer’s stock worth $185,000 after purchasing an additional 46 shares during the period. Finally, Fielder Capital Group LLC boosted its position in First Solar by 4.1% during the fourth quarter. Fielder Capital Group LLC now owns 1,196 shares of the solar cell manufacturer’s stock worth $312,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on FSLR. Argus boosted their price objective on shares of First Solar from $250.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Susquehanna reduced their target price on shares of First Solar from $280.00 to $250.00 and set a “positive” rating on the stock in a report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft lowered shares of First Solar from a “buy” rating to a “hold” rating and reduced their target price for the stock from $300.00 to $245.00 in a report on Wednesday, February 25th. Robert W. Baird reaffirmed a “neutral” rating and issued a $205.00 price objective (down from $264.00) on shares of First Solar in a research note on Wednesday, February 25th. Finally, The Goldman Sachs Group upped their price objective on shares of First Solar from $300.00 to $310.00 in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and an average price target of $247.40.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin?film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility?scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.