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

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

First Solar Stock Down 4.3 %

Shares of NASDAQ:FSLR opened at $127.34 on Wednesday. The firm 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. First Solar, Inc. has a 12-month low of $124.96 and a 12-month high of $306.77. The business has a fifty day simple moving average of $159.91 and a 200 day simple moving average of $189.73. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data 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). The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analysts Set New Price Targets

FSLR has been the topic of a number of analyst reports. Morgan Stanley reduced their price objective on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft set a $265.00 price target on shares of First Solar in a research report on Thursday, February 27th. Seaport Res Ptn upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Bank of America reduced their target price on First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, UBS Group lowered their price target on First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

Institutional Investors Weigh In On First Solar

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in First Solar by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock valued at $2,259,697,000 after buying an additional 120,289 shares during the period. State Street Corp raised its position in shares of First Solar by 2.2% in the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after acquiring an additional 108,984 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of First Solar by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer’s stock valued at $469,154,000 after purchasing an additional 63,739 shares during the period. Wellington Management Group LLP boosted its position in shares of First Solar by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock valued at $415,899,000 after purchasing an additional 262,482 shares in the last quarter. Finally, Invesco Ltd. grew its stake in First Solar by 13.9% during the fourth quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer’s stock worth $323,410,000 after purchasing an additional 223,933 shares during the period. 92.08% of the stock is 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.