First Solar (NASDAQ:FSLR) CEO Mark Widmar Sells 1,937 Shares

First Solar, Inc. (NASDAQ:FSLR) CEO Mark Widmar sold 1,937 shares of the firm’s stock in a transaction that occurred on 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 $20,641,838.40. The trade was a 1.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

First Solar Trading Up 0.5%

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

First Solar (NASDAQ:FSLR) last released 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 return on equity of 17.32% and a net margin of 29.28%.The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the company earned $3.65 EPS. First Solar’s revenue was up 11.1% on a year-over-year basis. Equities research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Hedge Funds Weigh In On First Solar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC increased its position in shares of First Solar by 1.7% during the third quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock worth $504,000 after acquiring an additional 39 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in First Solar by 1.2% in the fourth quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer’s stock valued at $942,000 after purchasing an additional 44 shares during the last quarter. Root Financial Partners LLC boosted its holdings in First Solar by 18.2% in the fourth quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer’s stock valued at $76,000 after purchasing an additional 45 shares during the last quarter. FIL Ltd grew its stake in First Solar by 6.9% during the 4th quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer’s stock valued at $185,000 after purchasing an additional 46 shares in the last quarter. Finally, Signaturefd LLC grew its stake in First Solar by 2.6% during the 3rd quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer’s stock valued at $414,000 after purchasing an additional 47 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Needham & Company LLC raised their price objective on First Solar from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. UBS Group decreased their target price on First Solar from $330.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Wall Street Zen lowered First Solar from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Morgan Stanley reduced their price target on First Solar from $275.00 to $230.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. Finally, Wells Fargo & Company decreased their price target on First Solar from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Twenty research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $248.17.

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.