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

First Solar, Inc. (NASDAQ:FSLR) CEO Mark Widmar sold 1,300 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 93,848 shares of the company’s stock, valued at $22,525,396.96. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Solar Price Performance

FSLR stock opened at $231.62 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. The business has a 50 day simple moving average of $199.81 and a 200-day simple moving average of $231.39. The firm has a market capitalization of $24.89 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 0.52 and a beta of 1.57. First Solar, Inc. has a 1 year low of $135.50 and a 1 year high of $285.99.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.95 earnings per share. Equities research analysts anticipate that First Solar, Inc. will post 17.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Bank of America lowered their price objective on First Solar from $291.00 to $271.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Wall Street Zen lowered First Solar from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. BMO Capital Markets lowered their price objective on First Solar from $252.00 to $237.00 and set a “market perform” rating for the company in a research report on Monday, April 20th. Royal Bank Of Canada lowered their price objective on First Solar from $258.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Finally, Evercore increased their price objective on First Solar from $212.00 to $219.00 in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $247.03.

Key First Solar News

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: Argus raised its price target on First Solar to $275 from $250 and reiterated a buy rating, reinforcing upside expectations for FSLR. Argus Issues Positive Forecast for First Solar (NASDAQ:FSLR) Stock Price
• Positive Sentiment: Solar stocks are broadly stronger, with peers such as Enphase Energy and SolarEdge moving sharply higher, suggesting favorable sector sentiment that can spill over into First Solar. Enphase Energy and SolarEdge Jump 11%, Canadian Solar Sinks 10% in Lopsided Solar Stock Trade
• Positive Sentiment: First Solar’s last quarterly report beat estimates on both earnings and revenue, which continues to support the stock’s fundamental outlook. First Solar price performance and earnings data
• Neutral Sentiment: CEO Mark Widmar disclosed Rule 10b5-1 share sales, which were pre-planned but can still create a modest sentiment drag for investors. First Solar insider trading disclosure
• Neutral Sentiment: Coverage discussing China’s clean-tech retreat from the U.S. highlights the policy backdrop for solar, but the impact on FSLR is indirect and mixed. China’s $3 Billion US Clean Tech Exit Is an Investment Warning

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Linden Thomas Advisory Services LLC boosted 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 buying an additional 39 shares during the period. Apollon Wealth Management LLC boosted its position in shares of First Solar by 1.2% during the fourth quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer’s stock worth $942,000 after buying an additional 44 shares during the period. Root Financial Partners LLC boosted its position in shares of First Solar by 18.2% during the fourth quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer’s stock worth $76,000 after buying an additional 45 shares during the period. FIL Ltd boosted its position in shares of First Solar by 6.9% during the fourth quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer’s stock worth $185,000 after buying an additional 46 shares during the period. Finally, Fielder Capital Group LLC boosted its position in shares of First Solar by 4.1% during the fourth quarter. Fielder Capital Group LLC now owns 1,196 shares of the solar cell manufacturer’s stock worth $312,000 after buying an additional 47 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

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.