First Solar (NASDAQ:FSLR) CEO Sells $2,314,842.46 in Stock

First Solar, Inc. (NASDAQ:FSLR) CEO Mark Widmar sold 9,926 shares of First Solar stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $233.21, for a total transaction of $2,314,842.46. Following the completion of the sale, the chief executive officer directly owned 95,148 shares in the company, valued at approximately $22,189,465.08. This represents a 9.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Solar Stock Up 0.8%

FSLR opened at $233.37 on Friday. The company’s 50-day moving average price is $200.53 and its two-hundred day moving average price is $231.41. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. First Solar, Inc. has a twelve month low of $135.50 and a twelve month high of $285.99. The stock has a market cap of $25.08 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 0.51 and a beta of 1.57.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business posted $1.95 EPS. First Solar’s quarterly revenue was up 23.6% compared to the same quarter last year. As a group, equities analysts expect that First Solar, Inc. will post 17.64 earnings per share for the current year.

Institutional Investors Weigh In On First Solar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aventura Private Wealth LLC bought a new stake in First Solar in the 4th quarter valued at about $25,000. Reflection Asset Management bought a new stake in shares of First Solar during the fourth quarter valued at about $26,000. Commonwealth Retirement Investments LLC bought a new stake in shares of First Solar during the fourth quarter valued at about $26,000. Larson Financial Group LLC increased its position in shares of First Solar by 117.0% during the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after buying an additional 55 shares during the period. Finally, Elyxium Wealth LLC bought a new stake in shares of First Solar during the fourth quarter valued at about $30,000. 92.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Evercore raised their price target on shares of First Solar from $212.00 to $219.00 in a research note on Monday, May 4th. Freedom Capital upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. TD Cowen lowered their price objective on First Solar from $320.00 to $253.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. BMO Capital Markets lowered their price objective on First Solar from $252.00 to $237.00 and set a “market perform” rating on the stock in a research note on Monday, April 20th. Finally, Needham & Company LLC boosted their price objective on First Solar from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $247.03.

First Solar Company Profile

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.