Alexander Bradley Sells 498 Shares of First Solar (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLRGet Free Report) CFO Alexander Bradley sold 498 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $107,383.74. Following the transaction, the chief financial officer owned 30,712 shares in the company, valued at approximately $6,622,428.56. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

First Solar Stock Performance

Shares of FSLR traded up $7.82 during mid-day trading on Tuesday, hitting $219.21. 3,163,381 shares of the company’s stock were exchanged, compared to its average volume of 2,362,970. First Solar, Inc. has a fifty-two week low of $125.80 and a fifty-two week high of $285.99. The firm has a market capitalization of $23.55 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.48 and a beta of 1.57. The business’s 50 day moving average is $198.46 and its two-hundred day moving average is $231.85. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

First Solar (NASDAQ:FSLRGet Free Report) last released its quarterly earnings results 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 business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the business earned $1.95 earnings per share. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. On average, equities analysts expect that First Solar, Inc. will post 17.33 earnings per share for the current year.

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Institutional Investors Weigh In On First Solar

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Aventura Private Wealth LLC acquired a new position in First Solar in the 4th quarter valued at about $25,000. Reflection Asset Management purchased a new position in First Solar during the fourth quarter worth approximately $26,000. Commonwealth Retirement Investments LLC purchased a new position in First Solar during the fourth quarter worth approximately $26,000. Larson Financial Group LLC increased its stake in First Solar by 117.0% during the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in First Solar during the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

FSLR has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of First Solar from $285.00 to $255.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Royal Bank Of Canada decreased their price target on First Solar from $258.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. TD Cowen decreased their price target on First Solar from $320.00 to $253.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. HSBC lifted their price target on First Solar from $211.00 to $231.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, Evercore lifted their price target on First Solar from $212.00 to $219.00 in a research note on Monday. Eighteen equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $246.10.

View Our Latest Analysis on First Solar

First Solar Company Profile

(Get Free Report)

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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