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

First Solar, Inc. (NASDAQ:FSLR) CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction 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 owns 111,890 shares of the company’s stock, valued at $14,965,287.50. This represents a 1.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

First Solar Stock Down 0.7 %

Shares of NASDAQ FSLR opened at $128.46 on Friday. First Solar, Inc. has a one year low of $124.96 and a one year high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm’s 50 day simple moving average is $157.42 and its two-hundred day simple moving average is $188.89. The stock has a market capitalization of $13.75 billion, a P/E ratio of 11.06, a PEG ratio of 0.19 and a beta of 1.52.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Clear Harbor Asset Management LLC grew its position in First Solar by 0.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after acquiring an additional 55 shares during the last quarter. Doliver Advisors LP grew its holdings in shares of First Solar by 1.2% in the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after purchasing an additional 56 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of First Solar by 31.7% in the fourth 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. Independent Advisor Alliance grew its holdings in shares of First Solar by 3.1% in the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock worth $368,000 after purchasing an additional 63 shares during the last quarter. Finally, Huntington National Bank grew its holdings in shares of First Solar by 15.3% in the fourth quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer’s stock worth $90,000 after purchasing an additional 68 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FSLR has been the subject of several research analyst reports. Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $218.00 to $259.00 in a research note on Tuesday, February 11th. Citigroup lowered their price objective on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Barclays reduced their price target on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on shares of First Solar in a report on Thursday, February 27th. Finally, Piper Sandler dropped their price objective on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and a consensus price target of $262.08.

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.