Mark Widmar Sells 4,815 Shares of First Solar (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLR) CEO Mark Widmar sold 4,815 shares of First Solar stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $247.43, for a total value of $1,191,375.45. Following the completion of the sale, the chief executive officer directly owned 89,033 shares of the company’s stock, valued at $22,029,435.19. The trade was a 5.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Solar Stock Performance

Shares of FSLR opened at $257.85 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. First Solar, Inc. has a one year low of $135.50 and a one year high of $285.99. The firm has a market capitalization of $27.71 billion, a P/E ratio of 16.66, a PEG ratio of 0.57 and a beta of 1.57. The business has a fifty day moving average of $205.04 and a 200 day moving average of $231.20.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the company posted $1.95 earnings per share. First Solar’s revenue was up 23.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that First Solar, Inc. will post 17.64 EPS for the current year.

Hedge Funds Weigh In On First Solar

Several large investors have recently made changes to their positions in the business. Western Wealth Management LLC purchased a new position in shares of First Solar in the first quarter valued at about $50,000. Janus Henderson Group PLC lifted its position in shares of First Solar by 19.7% in the first quarter. Janus Henderson Group PLC now owns 18,404 shares of the solar cell manufacturer’s stock valued at $3,629,000 after acquiring an additional 3,026 shares in the last quarter. Centaurus Financial Inc. increased its holdings in shares of First Solar by 303.1% in the first quarter. Centaurus Financial Inc. now owns 4,611 shares of the solar cell manufacturer’s stock worth $910,000 after purchasing an additional 3,467 shares during the last quarter. Altshuler Shaham Ltd increased its holdings in shares of First Solar by 10.8% in the first quarter. Altshuler Shaham Ltd now owns 10,485 shares of the solar cell manufacturer’s stock worth $2,068,000 after purchasing an additional 1,025 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of First Solar by 17.7% in the first quarter. EverSource Wealth Advisors LLC now owns 672 shares of the solar cell manufacturer’s stock worth $133,000 after purchasing an additional 101 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about First Solar

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

• Positive Sentiment: First Solar announced a partnership with GameChange Solar to support wider use of its domestically manufactured thin-film modules in India, a move that could improve demand visibility and reduce supply-chain or compliance concerns. Why First Solar (FSLR) Stock Is Trading Up Today
• Positive Sentiment: Guggenheim raised its price target on First Solar to $279 from $269 and reiterated a Buy rating, signaling continued analyst confidence in the stock’s upside potential. MarketScreener

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FSLR shares. UBS Group lowered their target price on First Solar from $300.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Zacks Research upgraded First Solar from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. The Goldman Sachs Group lifted their target price on First Solar from $300.00 to $310.00 in a research report on Friday, May 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Solar in a research report on Friday, March 27th. Finally, Freedom Capital upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $247.40.

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.