First Solar, Inc. (NASDAQ:FSLR) CEO Sells $3,039,360.78 in Stock

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

First Solar Trading Down 6.3 %

NASDAQ:FSLR opened at $127.63 on Tuesday. The firm has a market capitalization of $13.66 billion, a P/E ratio of 10.99, a PEG ratio of 0.19 and a beta of 1.47. 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, Inc. has a one year low of $126.54 and a one year high of $306.77. The company’s 50-day simple moving average is $171.20 and its 200 day simple moving average is $196.97.

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 return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. As a group, analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FSLR. Royal Bank of Canada lowered their price target on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Bank of America lowered their target price on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Citigroup dropped their target price on First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $218.00 to $259.00 in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. dropped their price objective on First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $262.08.

Institutional Investors Weigh In On First Solar

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