Insider Selling: First Solar, Inc. (NASDAQ:FSLR) CEO Sells 21,542 Shares of Stock

First Solar, Inc. (NASDAQ:FSLR) CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the sale, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

First Solar Stock Down 0.3 %

FSLR stock opened at $130.90 on Thursday. First Solar, Inc. has a 52 week low of $124.96 and a 52 week high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company has a market cap of $14.01 billion, a P/E ratio of 11.27, a P/E/G ratio of 0.19 and a beta of 1.47. The company’s 50-day moving average price is $170.10 and its 200 day moving average price is $196.30.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. On average, research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Institutional Trading of First Solar

Several large investors have recently bought and sold shares of the company. Covestor Ltd boosted its position in shares of First Solar by 6.4% in the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock worth $229,000 after buying an additional 55 shares in the last quarter. Field & Main Bank raised its position in First Solar by 4.1% during the third quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock worth $345,000 after acquiring an additional 55 shares during the last quarter. Clear Harbor Asset Management LLC lifted its holdings in shares of First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after purchasing an additional 55 shares in the last quarter. Demars Financial Group LLC grew its position in shares of First Solar by 1.4% in the third quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock valued at $1,030,000 after purchasing an additional 56 shares during the last quarter. Finally, Doliver Advisors LP increased its stake in shares of First Solar by 1.2% during the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on FSLR. Redburn Atlantic initiated coverage on First Solar in a research report on Monday. They set a “neutral” rating on the stock. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. Barclays decreased their price target on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Guggenheim dropped their price objective on shares of First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Seaport Res Ptn upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.