First Solar (NASDAQ:FSLR) Director Sells 4,500 Shares

First Solar, Inc. (NASDAQ:FSLR) Director Michael Sweeney sold 4,500 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $271.11, for a total value of $1,219,995.00. Following the completion of the transaction, the director directly owned 13,662 shares of the company’s stock, valued at approximately $3,703,904.82. This trade represents a 24.78% 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 Price Performance

First Solar stock traded up $5.00 during trading hours on Monday, reaching $272.64. 2,139,934 shares of the stock were exchanged, compared to its average volume of 3,471,740. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $281.55. The company has a market cap of $29.26 billion, a P/E ratio of 23.32, a price-to-earnings-growth ratio of 0.46 and a beta of 1.51. The stock has a 50 day moving average of $226.52 and a two-hundred day moving average of $188.72.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 EPS for the quarter, missing the consensus estimate of $4.32 by ($0.08). First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the firm posted $2.91 earnings per share. First Solar’s quarterly revenue was up 79.7% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. Equities analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analyst Ratings Changes

FSLR has been the subject of several recent analyst reports. Mizuho upped their target price on First Solar from $278.00 to $335.00 in a research note on Friday, October 31st. Citigroup boosted their price target on First Solar from $198.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Wolfe Research raised their price objective on First Solar from $232.00 to $247.00 in a research note on Friday, October 31st. Morgan Stanley set a $275.00 target price on First Solar in a research report on Friday, October 31st. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $316.00 target price on shares of First Solar in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $270.17.

Hedge Funds Weigh In On First Solar

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of First Solar by 3.5% during the third quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock worth $3,026,108,000 after purchasing an additional 464,130 shares during the last quarter. State Street Corp boosted its position in First Solar by 2.1% during the 2nd quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock worth $881,680,000 after buying an additional 111,927 shares during the period. Geode Capital Management LLC grew its holdings in First Solar by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,857,848 shares of the solar cell manufacturer’s stock worth $471,927,000 after acquiring an additional 26,476 shares during the last quarter. Wellington Management Group LLP grew its holdings in First Solar by 17.2% during the 1st quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer’s stock worth $349,617,000 after acquiring an additional 405,457 shares during the last quarter. Finally, Invesco Ltd. increased its position in First Solar by 32.3% in the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock valued at $306,909,000 after acquiring an additional 592,444 shares during the period. 92.08% of the stock is currently owned by institutional investors.

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.