First Solar, Inc. (NASDAQ:FSLR) CFO Alexander R. Bradley sold 227 shares of First Solar stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $54.06, for a total value of $12,271.62. Following the sale, the chief financial officer now directly owns 8,660 shares in the company, valued at $468,159.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
NASDAQ FSLR traded down $0.73 during trading on Friday, reaching $53.71. 1,488,400 shares of the company traded hands, compared to its average volume of 1,577,643. The company has a current ratio of 4.57, a quick ratio of 4.11 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 39.49, a PEG ratio of 1.58 and a beta of 1.27. First Solar, Inc. has a 1-year low of $36.51 and a 1-year high of $81.72.
First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, February 21st. The solar cell manufacturer reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.15). The company had revenue of $691.00 million for the quarter, compared to analyst estimates of $812.52 million. First Solar had a net margin of 6.43% and a return on equity of 2.80%. The firm’s revenue for the quarter was up 103.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.25) earnings per share. On average, analysts predict that First Solar, Inc. will post 2.48 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Park West Asset Management LLC bought a new position in shares of First Solar in the fourth quarter valued at approximately $77,966,000. Millennium Management LLC raised its stake in shares of First Solar by 523.0% in the fourth quarter. Millennium Management LLC now owns 2,065,760 shares of the solar cell manufacturer’s stock valued at $87,702,000 after acquiring an additional 1,734,171 shares during the last quarter. Norges Bank bought a new position in shares of First Solar in the fourth quarter valued at approximately $54,251,000. Oregon Public Employees Retirement Fund raised its stake in shares of First Solar by 3,850.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,267,749 shares of the solar cell manufacturer’s stock valued at $30,000 after acquiring an additional 1,235,661 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of First Solar by 8.4% in the fourth quarter. BlackRock Inc. now owns 7,576,706 shares of the solar cell manufacturer’s stock valued at $321,670,000 after acquiring an additional 587,389 shares during the last quarter. 59.97% of the stock is currently owned by institutional investors.
A number of equities research analysts recently weighed in on the company. Cowen set a $74.00 target price on First Solar and gave the stock a “buy” rating in a research report on Wednesday, December 12th. Roth Capital decreased their target price on First Solar to $60.00 and set a “buy” rating on the stock in a research report on Friday, February 15th. Goldman Sachs Group raised First Solar to a “buy” rating and set a $57.00 target price on the stock in a research report on Wednesday, January 16th. Cascend Securities raised First Solar from a “hold” rating to a “buy” rating in a research report on Monday, December 17th. Finally, JPMorgan Chase & Co. decreased their target price on First Solar to $70.00 and set an “overweight” rating on the stock in a research report on Friday, February 22nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $63.40.
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First Solar Company Profile
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.
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