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

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) CEO Mark R. Widmar sold 21,542 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were 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. 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 available through this hyperlink.

First Solar Stock Down 6.3 %

Shares of FSLR traded down $8.55 during mid-day trading on Monday, reaching $127.63. 4,694,070 shares of the stock traded hands, compared to its average volume of 2,661,246. First Solar, Inc. has a 12-month low of $126.54 and a 12-month 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 price-to-earnings ratio of 10.99, a P/E/G ratio of 0.19 and a beta of 1.47. The stock has a fifty day simple moving average of $172.38 and a 200 day simple moving average of $197.69.

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

Institutional Investors Weigh In On First Solar

A number of institutional investors have recently made changes to their positions in the company. Whalen Wealth Management Inc. boosted its holdings in shares of First Solar by 47.0% in the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer's stock valued at $856,000 after buying an additional 1,554 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in First Solar by 665.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock valued at $7,308,000 after acquiring an additional 34,074 shares during the period. Stifel Financial Corp grew its holdings in shares of First Solar by 36.9% during the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer's stock valued at $5,350,000 after purchasing an additional 5,780 shares during the last quarter. Paragon Capital Management Inc. acquired a new stake in shares of First Solar during the 4th quarter worth approximately $1,240,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of First Solar by 9.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer's stock worth $104,910,000 after purchasing an additional 49,074 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FSLR. Wells Fargo & Company decreased their target price on shares of First Solar from $240.00 to $209.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. BMO Capital Markets reissued an "outperform" rating and issued a $230.00 price objective (down previously from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Piper Sandler decreased their price target on First Solar from $250.00 to $230.00 and set an "overweight" rating for the company in a 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. Finally, Morgan Stanley lowered their price target on shares of First Solar from $297.00 to $238.00 and set an "overweight" rating on the stock in a report on Thursday. Four equities research 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. According to data from MarketBeat, First Solar has an average rating of "Moderate Buy" and an average price target of $262.08.

About First Solar

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.

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