First Solar (NASDAQ:FSLR) CEO Mark Widmar Sells 1,300 Shares

First Solar, Inc. (NASDAQ:FSLR) CEO Mark Widmar sold 1,300 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $240.02, for a total value of $312,026.00. Following the transaction, the chief executive officer owned 93,848 shares of the company’s stock, valued at $22,525,396.96. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Solar Stock Performance

NASDAQ FSLR traded up $6.54 during trading hours on Wednesday, hitting $234.60. The company’s stock had a trading volume of 2,628,329 shares, compared to its average volume of 2,641,506. First Solar, Inc. has a 12 month low of $135.50 and a 12 month high of $285.99. The company’s 50 day simple moving average is $199.13 and its two-hundred day simple moving average is $231.46. The company has a market cap of $25.21 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 0.50 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.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the company earned $1.95 EPS. First Solar’s revenue for the quarter was up 23.6% on a year-over-year basis. As a group, sell-side analysts expect that First Solar, Inc. will post 17.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FSLR. Aventura Private Wealth LLC purchased a new position in First Solar in the fourth quarter worth about $25,000. Commonwealth Retirement Investments LLC purchased a new position in First Solar in the fourth quarter worth about $26,000. Reflection Asset Management purchased a new position in First Solar in the fourth quarter worth about $26,000. Strategic Wealth Investment Group LLC purchased a new position in First Solar in the second quarter worth about $26,000. Finally, Larson Financial Group LLC boosted its position in First Solar by 117.0% in the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FSLR shares. Argus lifted their price objective on First Solar from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup reduced their price objective on First Solar from $300.00 to $243.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Jefferies Financial Group reduced their price objective on First Solar from $205.00 to $187.00 and set a “hold” rating for the company in a report on Tuesday, April 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Solar in a report on Friday, March 27th. Finally, Wall Street Zen downgraded First Solar from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.