Insider Selling: First Solar, Inc. (NASDAQ:FSLR) CEO Sells 2,321 Shares of Stock

Key Points

• First Solar, Inc. CEO Mark R. Widmar sold 2,321 shares of stock at an average price of $199.44, resulting in a total transaction value of approximately $462,900.
• The company recently reported quarterly earnings of $3.18 per share, exceeding estimates and generating $1.10 billion in revenue, representing an 8.6% year-over-year increase.
• Analysts have mixed opinions on First Solar's stock, with a consensus rating of "Moderate Buy" and a target price averaging $222.44.

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) CEO Mark R. Widmar sold 2,321 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $199.44, for a total value of $462,900.24. Following the sale, the chief executive officer owned 81,861 shares of the company's stock, valued at approximately $16,326,357.84. The trade was a 2.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

First Solar Price Performance

FSLR stock traded up $19.38 during midday trading on Monday, reaching $219.33. The company had a trading volume of 9,501,591 shares, compared to its average volume of 2,809,817. The stock has a 50 day moving average price of $172.44 and a 200-day moving average price of $154.07. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $262.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. The company has a market capitalization of $23.52 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 0.39 and a beta of 1.48.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.50. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%. First Solar's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $3.25 EPS. Equities research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FSLR. Harvest Portfolios Group Inc. boosted its stake in First Solar by 3.9% in the first quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer's stock valued at $210,000 after acquiring an additional 63 shares during the last quarter. Legend Financial Advisors Inc. grew its holdings in shares of First Solar by 1.4% during the 1st quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer's stock valued at $598,000 after purchasing an additional 64 shares during the last quarter. Harrington Investments INC increased its stake in First Solar by 0.5% in the 2nd quarter. Harrington Investments INC now owns 13,278 shares of the solar cell manufacturer's stock worth $2,198,000 after purchasing an additional 65 shares during the period. Penserra Capital Management LLC grew its holdings in First Solar by 13.4% in the 2nd quarter. Penserra Capital Management LLC now owns 560 shares of the solar cell manufacturer's stock worth $92,000 after acquiring an additional 66 shares during the last quarter. Finally, Energy Income Partners LLC lifted its stake in First Solar by 0.8% in the first quarter. Energy Income Partners LLC now owns 9,257 shares of the solar cell manufacturer's stock worth $1,170,000 after acquiring an additional 72 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on FSLR shares. Guggenheim cut their price objective on shares of First Solar from $253.00 to $202.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. TD Cowen upped their target price on First Solar from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, August 1st. KeyCorp downgraded First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price objective on the stock. in a research report on Wednesday, April 30th. The Goldman Sachs Group increased their target price on First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Finally, Oppenheimer lowered First Solar from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $222.44.

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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