First Solar, Inc. (NASDAQ:FSLR) CEO Mark R. Widmar Sells 1,966 Shares

First Solar, Inc. (NASDAQ:FSLR) CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the completion of the sale, the chief executive officer now owns 111,890 shares in the company, valued at approximately $14,965,287.50. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

First Solar Trading Down 4.3 %

Shares of First Solar stock traded down $5.69 on Tuesday, reaching $127.34. The company had a trading volume of 3,015,970 shares, compared to its average volume of 2,556,447. The firm’s 50 day moving average price is $159.91 and its two-hundred day moving average price is $189.73. The firm has a market cap of $13.63 billion, a PE ratio of 10.97, a PEG ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 52-week low of $124.96 and a 52-week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

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

Institutional Investors Weigh In On First Solar

Several large investors have recently added to or reduced their stakes in FSLR. Norges Bank purchased a new stake in First Solar during the 4th quarter worth approximately $317,399,000. Wellington Management Group LLP increased its stake in First Solar by 75.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after buying an additional 904,498 shares during the period. Demars Financial Group LLC increased its stake in First Solar by 17,404.5% during the 4th quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer’s stock worth $127,379,000 after buying an additional 718,631 shares during the period. Mirova US LLC increased its stake in First Solar by 961.0% during the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock worth $113,906,000 after buying an additional 585,394 shares during the period. Finally, Amundi increased its stake in First Solar by 31.0% during the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock worth $336,871,000 after buying an additional 426,797 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of recent research reports. Guggenheim lowered their price target on shares of First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Citigroup lowered their price target on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. BMO Capital Markets restated an “outperform” rating and set a $230.00 price target (down from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Piper Sandler lowered their price target on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Redburn Atlantic initiated coverage on shares of First Solar in a research report on Monday, March 3rd. They set a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, First Solar has a consensus 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.