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

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 value of $3,039,360.78. Following the completion of the transaction, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. The trade was a 17.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

First Solar Trading Down 6.3 %

First Solar stock opened at $127.63 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a fifty-two week low of $126.54 and a fifty-two week high of $306.77. The stock has a market cap of $13.66 billion, a P/E ratio of 10.99, a PEG ratio of 0.19 and a beta of 1.47. The firm’s fifty day moving average price is $171.20 and its 200-day moving average price is $196.97.

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

Institutional Investors Weigh In On First Solar

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in First Solar in the 4th quarter worth approximately $43,442,000. Mackenzie Financial Corp lifted its holdings in shares of First Solar by 4.7% during the 4th quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock worth $2,868,000 after acquiring an additional 738 shares during the last quarter. Amiral Gestion purchased a new position in First Solar in the fourth quarter worth $529,000. Wormser Freres Gestion increased its stake in First Solar by 54.7% in the fourth quarter. Wormser Freres Gestion now owns 1,069 shares of the solar cell manufacturer’s stock valued at $195,000 after acquiring an additional 378 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new stake in First Solar during the fourth quarter valued at about $2,129,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup cut their price objective on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. UBS Group decreased their price objective on shares of First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Morgan Stanley dropped their target price 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. Finally, BMO Capital Markets restated an “outperform” rating and set a $230.00 price target (down previously from $260.00) on shares of First Solar in a research note 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.