Insider Selling: First Solar (NASDAQ:FSLR) CEO Sells $388,949.60 in Stock

First Solar, Inc. (NASDAQ:FSLR) CEO Mark Widmar sold 1,937 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $200.80, for a total transaction of $388,949.60. Following the completion of the transaction, the chief executive officer owned 102,798 shares in the company, valued at approximately $20,641,838.40. This trade represents a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

First Solar Trading Up 0.5%

Shares of NASDAQ FSLR traded up $0.94 during midday trading on Tuesday, reaching $200.42. 1,358,366 shares of the stock were exchanged, compared to its average volume of 2,623,352. The company has a market capitalization of $21.51 billion, a P/E ratio of 14.10, a P/E/G ratio of 0.35 and a beta of 1.65. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $285.99. The company has a current ratio of 2.67, a quick ratio of 2.35 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average price of $224.42 and a 200-day moving average price of $236.51.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the previous year, the company posted $3.65 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FSLR. UBS Group reduced their price target on First Solar from $330.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Needham & Company LLC upped their target price on First Solar from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Mizuho reduced their target price on First Solar from $326.00 to $271.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Wells Fargo & Company decreased their price target on First Solar from $285.00 to $255.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Finally, TD Cowen lowered their price target on First Solar from $320.00 to $253.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Twenty investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $248.17.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Aventura Private Wealth LLC acquired a new position in First Solar in the fourth quarter valued at $25,000. Reflection Asset Management acquired a new stake in First Solar during the fourth quarter worth about $26,000. Commonwealth Retirement Investments LLC acquired a new stake in First Solar during the fourth quarter worth about $26,000. Larson Financial Group LLC raised its holdings in shares of 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 purchasing an additional 55 shares during the period. Finally, Elyxium Wealth LLC purchased a new position in shares of First Solar in the 4th quarter worth about $30,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

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.