Mark R. Widmar Sells 21,542 Shares of First Solar, Inc. (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLR) CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the transaction, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

First Solar Stock Down 6.3 %

Shares of NASDAQ:FSLR traded down $8.55 during trading on Monday, reaching $127.63. 4,694,070 shares of the company traded hands, compared to its average volume of 2,661,246. First Solar, Inc. has a 1-year low of $126.54 and a 1-year high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a market cap of $13.66 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. The firm has a fifty day simple moving average of $172.38 and a 200 day simple moving average of $197.69.

First Solar (NASDAQ:FSLR) last issued its 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 firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Solar

Hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of First Solar during the 4th quarter worth about $317,399,000. Wellington Management Group LLP boosted its position in First Solar by 75.8% during the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after purchasing an additional 904,498 shares during the period. Demars Financial Group LLC boosted its position in First Solar by 17,404.5% during the fourth quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer’s stock worth $127,379,000 after purchasing an additional 718,631 shares during the period. Mirova US LLC raised its position in shares of First Solar by 961.0% in the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock valued at $113,906,000 after purchasing an additional 585,394 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of First Solar by 1,757.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock worth $136,242,000 after buying an additional 516,783 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group decreased their price target on First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Roth Mkm reiterated a “buy” rating and issued a $280.00 target price on shares of First Solar in a research report on Wednesday, February 26th. Royal Bank of Canada dropped their price target on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Barclays decreased their price objective on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. dropped their target price on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Four research 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Company Profile

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.