Insider Selling: First Solar (NASDAQ:FSLR) Insider Sells 10,628 Shares of Stock

Key Points

• First Solar insider Caroline Stockdale sold 10,628 shares on May 28 at an average price of $275.60, generating about $2.93 million. The sale reduced her direct holdings by 30.88% and was made under a pre-arranged Rule 10b5-1 plan.
• The stock was trading lower on the day mentioned, down 2.7% to $298.38, though it remained near its 12-month high of $313.75. First Solar has a market cap of about $32.06 billion and strong liquidity ratios.
• First Solar recently beat earnings expectations, reporting $3.22 EPS versus the $2.87 estimate and revenue of $1.04 billion, up 23.6% year over year. Analysts remain generally constructive, with an average rating of Moderate Buy and an average target price of $247.40.

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) insider Caroline Stockdale sold 10,628 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $275.60, for a total transaction of $2,929,076.80. Following the sale, the insider directly owned 23,792 shares of the company's stock, valued at approximately $6,557,075.20. This trade represents a 30.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Caroline Stockdale also recently made the following trade(s):

• On Tuesday, May 5th, Caroline Stockdale sold 262 shares of First Solar stock. The stock was sold at an average price of $215.63, for a total transaction of $56,495.06.
• On Monday, March 16th, Caroline Stockdale sold 335 shares of First Solar stock. The stock was sold at an average price of $200.80, for a total transaction of $67,268.00.
• On Monday, March 9th, Caroline Stockdale sold 1,041 shares of First Solar stock. The shares were sold at an average price of $190.36, for a total transaction of $198,164.76.
• On Tuesday, March 3rd, Caroline Stockdale sold 1,650 shares of First Solar stock. The stock was sold at an average price of $195.93, for a total transaction of $323,284.50.

First Solar Trading Down 2.7%

FSLR traded down $8.42 during trading on Monday, reaching $298.38. The company had a trading volume of 2,161,642 shares, compared to its average volume of 2,472,028. The company has a market cap of $32.06 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 0.68 and a beta of 1.70. The firm's 50-day simple moving average is $213.45 and its 200 day simple moving average is $231.38. First Solar, Inc. has a 12-month low of $135.50 and a 12-month high of $313.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm's quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.95 EPS. Equities research analysts anticipate that First Solar, Inc. will post 17.64 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Needham & Company LLC lifted their price objective on First Solar from $286.00 to $303.00 and gave the company a "buy" rating in a report on Monday, February 23rd. The Goldman Sachs Group increased their price objective on First Solar from $300.00 to $310.00 in a research note on Friday, May 1st. JPMorgan Chase & Co. reduced their price target on First Solar from $303.00 to $256.00 and set an "overweight" rating for the company in a research report on Wednesday, February 25th. Mizuho decreased their price objective on First Solar from $271.00 to $243.00 and set an "outperform" rating on the stock in a report on Monday, April 27th. Finally, Susquehanna cut their price objective on First Solar from $280.00 to $250.00 and set a "positive" rating on the stock in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $247.40.

Hedge Funds Weigh In On First Solar

Institutional investors have recently modified their holdings of the stock. Aventura Private Wealth LLC purchased a new position in First Solar during the fourth quarter valued at approximately $25,000. Commonwealth Retirement Investments LLC acquired a new position in First Solar during the fourth quarter valued at $26,000. Reflection Asset Management acquired a new position in First Solar during the fourth quarter valued at $26,000. Strategic Wealth Investment Group LLC acquired a new position in First Solar during the second quarter valued at $26,000. Finally, Larson Financial Group LLC lifted its position in First Solar by 117.0% during the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer's stock valued at $27,000 after purchasing an additional 55 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Company Profile

First Solar, Inc NASDAQ: FSLR is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.

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