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

First Solar, Inc. (NASDAQ:FSLR) CEO Mark R. Widmar sold 1,966 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the completion of the sale, the chief executive officer now directly owns 111,890 shares of the company’s stock, valued at $14,965,287.50. The trade was a 1.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

First Solar Stock Performance

Shares of FSLR stock opened at $127.34 on Wednesday. The company has a fifty day moving average price of $159.91 and a two-hundred day moving average price of $189.73. First Solar, Inc. has a one year low of $124.96 and a one year high of $306.77. The stock has a market cap of $13.63 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, equities analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Robert W. Baird lowered their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lowered their price target on First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Redburn Atlantic initiated coverage on First Solar in a report on Monday, March 3rd. They set a “neutral” rating on the stock. Citigroup lowered their target price on First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, First Solar has a consensus rating of “Moderate Buy” and an average target price of $262.08.

Institutional Trading of First Solar

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

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.