First Solar, Inc. (NASDAQ:FSLR) Insider Sells $55,710.24 in Stock

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) insider Kuntal Kumar Verma sold 419 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total value of $55,710.24. Following the transaction, the insider now directly owns 4,695 shares of the company's stock, valued at approximately $624,247.20. The trade was a 8.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Kuntal Kumar Verma also recently made the following trade(s):

• On Friday, February 28th, Kuntal Kumar Verma sold 7,475 shares of First Solar stock. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00.

First Solar Trading Down 2.2 %

Shares of NASDAQ FSLR traded down $3.06 during mid-day trading on Wednesday, reaching $136.04. 2,133,550 shares of the company's stock were exchanged, compared to its average volume of 2,750,801. The firm has a market capitalization of $14.56 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 0.19 and a beta of 1.52. 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 52-week low of $124.96 and a 52-week high of $306.77. The company's 50-day moving average is $164.63 and its 200-day moving average is $192.76.

Remove Ads

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share 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 business had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.48 billion. Analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Hedge Funds Weigh In On First Solar

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in First Solar by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer's stock worth $2,259,697,000 after acquiring an additional 120,289 shares in the last quarter. State Street Corp lifted its stake in First Solar by 2.2% during 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 First Solar by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer's stock worth $469,154,000 after acquiring an additional 63,739 shares in the last quarter. Wellington Management Group LLP lifted its stake in 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 worth $415,899,000 after acquiring an additional 262,482 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in First Solar by 13.9% during the 4th quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer's stock worth $323,410,000 after acquiring an additional 223,933 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

Analyst Upgrades and Downgrades

FSLR has been the subject of several research analyst reports. Citigroup reduced their target price on First Solar from $254.00 to $236.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Mizuho raised First Solar from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $218.00 to $259.00 in a research note on Tuesday, February 11th. Roth Mkm reiterated a "buy" rating and set a $280.00 price target on shares of First Solar in a research report on Wednesday, February 26th. Wells Fargo & Company dropped their price target on First Solar from $240.00 to $209.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Finally, Redburn Atlantic initiated coverage on First Solar in a research report on Monday, March 3rd. They set a "neutral" rating for the company. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock 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.