Mark Widmar Sells 1,526 Shares of First Solar (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLRGet Free Report) CEO Mark Widmar sold 1,526 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $329,051.38. Following the completion of the sale, the chief executive officer directly owned 105,074 shares in the company, valued at $22,657,106.62. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

First Solar Stock Performance

First Solar stock traded up $7.82 during mid-day trading on Tuesday, reaching $219.21. The company had a trading volume of 3,163,381 shares, compared to its average volume of 2,362,970. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. First Solar, Inc. has a 52 week low of $125.80 and a 52 week high of $285.99. The company has a 50 day moving average of $198.46 and a 200-day moving average of $231.85. The firm has a market cap of $23.55 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.48 and a beta of 1.57.

First Solar (NASDAQ:FSLRGet Free Report) last issued its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm earned $1.95 EPS. The business’s revenue was up 23.6% on a year-over-year basis. On average, sell-side analysts expect that First Solar, Inc. will post 17.33 EPS for the current fiscal year.

Institutional Investors Weigh In On First Solar

A number of institutional investors and hedge funds have recently modified their holdings of FSLR. Woodline Partners LP grew its stake in shares of First Solar by 40.7% during the first quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock worth $1,143,000 after purchasing an additional 2,615 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of First Solar by 50.9% during the second quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer’s stock worth $85,000 after purchasing an additional 174 shares during the period. Brown Advisory Inc. boosted its stake in First Solar by 84.3% during the 2nd quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer’s stock worth $750,000 after acquiring an additional 2,072 shares during the last quarter. Cerity Partners LLC bought a new position in First Solar during the 2nd quarter worth approximately $494,000. Finally, AXA S.A. boosted its stake in First Solar by 6.3% during the 2nd quarter. AXA S.A. now owns 18,862 shares of the solar cell manufacturer’s stock worth $3,122,000 after acquiring an additional 1,115 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. TD Cowen cut their price target on First Solar from $320.00 to $253.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. UBS Group cut their price objective on First Solar from $300.00 to $290.00 and set a “buy” rating for the company in a report on Monday. Morgan Stanley dropped their price objective on shares of First Solar from $275.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft cut shares of First Solar from a “buy” rating to a “hold” rating and decreased their price target for the company from $300.00 to $245.00 in a research note on Wednesday, February 25th. Finally, Mizuho decreased their price target on shares of First Solar from $271.00 to $243.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Eighteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.10.

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About First Solar

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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.

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