Mark R. Widmar Sells 1,966 Shares of First Solar, Inc. (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLR) CEO Mark R. Widmar sold 1,966 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $262,952.50. Following the sale, the chief executive officer now owns 111,890 shares in the company, valued at approximately $14,965,287.50. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

First Solar Stock Up 1.6 %

Shares of FSLR opened at $129.34 on Thursday. The firm has a market cap of $13.85 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a 52 week low of $124.96 and a 52 week high of $306.77. The firm’s 50-day simple moving average is $158.67 and its 200 day simple moving average is $189.31.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. On average, analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Hedge Funds Weigh In On First Solar

Several institutional investors and hedge funds have recently modified their holdings of the business. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar in the third quarter valued at approximately $25,000. Larson Financial Group LLC increased its stake in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after acquiring an additional 107 shares during the period. Smartleaf Asset Management LLC raised its holdings in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after acquiring an additional 63 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of First Solar during the 4th quarter valued at $53,000. Finally, Hudson Edge Investment Partners Inc. acquired a new stake in shares of First Solar during the 4th quarter worth $53,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FSLR. Wells Fargo & Company dropped their price target on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Bank of America dropped their target price on First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Piper Sandler reduced their price target on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. UBS Group lowered their price objective on shares of First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Royal Bank of Canada reduced their target price on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and an average target price of $262.08.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.