Mark Widmar Sells 4,815 Shares of First Solar (NASDAQ:FSLR) 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 owned 89,033 shares in the company, valued at approximately $22,029,435.19. The trade was a 5.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Solar Price Performance

Shares of FSLR traded up $8.97 during mid-day trading on Friday, reaching $257.85. The stock had a trading volume of 2,456,088 shares, compared to its average volume of 2,396,192. The firm has a market cap of $27.71 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.52 and a beta of 1.57. First Solar, Inc. has a 12 month low of $135.50 and a 12 month high of $285.99. The business has a fifty day moving average of $203.89 and a 200 day moving average of $231.01. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56.

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, topping 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 during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company posted $1.95 earnings per share. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. Equities analysts predict that First Solar, Inc. will post 17.64 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Aventura Private Wealth LLC purchased a new stake in shares of First Solar in the fourth quarter worth about $25,000. Commonwealth Retirement Investments LLC purchased a new position in First Solar during the 4th quarter valued at approximately $26,000. Reflection Asset Management purchased a new position in First Solar during the 4th quarter valued at approximately $26,000. Strategic Wealth Investment Group LLC purchased a new position in First Solar during the 2nd quarter valued at approximately $26,000. Finally, Larson Financial Group LLC increased its stake in First Solar by 117.0% in the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised their price target on First Solar from $300.00 to $310.00 in a report on Friday, May 1st. Wells Fargo & Company cut their target price on First Solar from $285.00 to $255.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Argus lifted their target price on First Solar from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Zacks Research raised First Solar from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of First Solar from a “buy” rating to a “hold” rating and cut their price objective for the company from $300.00 to $245.00 in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.