Philip Dejong Sells 15,304 Shares of First Solar, Inc. (FSLR) Stock

First Solar, Inc. (NASDAQ:FSLR) COO Philip Dejong sold 15,304 shares of First Solar stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $67.83, for a total value of $1,038,070.32. Following the completion of the transaction, the chief operating officer now directly owns 10,424 shares of the company’s stock, valued at $707,059.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of First Solar, Inc. (NASDAQ:FSLR) traded up $0.03 during trading hours on Friday, reaching $69.17. The company’s stock had a trading volume of 1,021,133 shares, compared to its average volume of 1,932,383. The company has a market cap of $7,220.00, a PE ratio of -16.63 and a beta of 2.04. First Solar, Inc. has a 12-month low of $25.56 and a 12-month high of $71.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $1.11. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The company’s quarterly revenue was up 59.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 EPS. sell-side analysts expect that First Solar, Inc. will post 2.52 EPS for the current fiscal year.

FSLR has been the subject of a number of research analyst reports. Vetr raised First Solar from a “sell” rating to a “hold” rating and set a $66.50 price target for the company in a report on Thursday, December 14th. Deutsche Bank raised First Solar from a “hold” rating to a “buy” rating and lifted their price target for the company from $50.00 to $65.00 in a report on Friday, September 15th. Zacks Investment Research cut First Solar from a “strong-buy” rating to a “hold” rating in a report on Friday, October 13th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $65.00 price target (up from $50.00) on shares of First Solar in a report on Thursday, November 30th. Finally, Cowen reaffirmed an “outperform” rating and issued a $77.00 price target (up from $60.00) on shares of First Solar in a report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $63.22.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of First Solar by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,545,727 shares of the solar cell manufacturer’s stock worth $261,043,000 after buying an additional 243,787 shares during the period. Schroder Investment Management Group grew its position in shares of First Solar by 12,600.7% during the 2nd quarter. Schroder Investment Management Group now owns 1,679,286 shares of the solar cell manufacturer’s stock worth $67,306,000 after buying an additional 1,666,064 shares during the period. Bank of New York Mellon Corp grew its position in shares of First Solar by 6.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,456,546 shares of the solar cell manufacturer’s stock worth $66,825,000 after buying an additional 82,634 shares during the period. Key Square Capital Management LLC acquired a new position in shares of First Solar during the 3rd quarter worth about $23,621,000. Finally, Ecofin Ltd. acquired a new position in shares of First Solar during the 2nd quarter worth about $19,485,000. Institutional investors own 50.87% of the company’s stock.

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About First Solar

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

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