Mark R. Widmar Sells 3,796 Shares of First Solar, Inc. (NASDAQ:FSLR) Stock

Key Points

• Mark R. Widmar, CEO of First Solar, sold 3,796 shares of the company's stock for approximately $710,573, reducing his ownership by 4.31% to 84,182 shares.
• First Solar's stock price fell 2.6% to $180.05 following the sale, with the company having a market cap of $19.31 billion.
• Analyst ratings for First Solar are mostly positive, with a consensus rating of "Moderate Buy" and a price target averaging at $224.27.

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) CEO Mark R. Widmar sold 3,796 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $187.19, for a total transaction of $710,573.24. Following the completion of the sale, the chief executive officer directly owned 84,182 shares of the company's stock, valued at approximately $15,758,028.58. This trade represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

First Solar Stock Down 2.6%

Shares of NASDAQ FSLR traded down $4.79 during trading hours on Thursday, hitting $180.05. 2,512,781 shares of the stock were exchanged, compared to its average volume of 2,450,553. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The company has a market cap of $19.31 billion, a PE ratio of 15.40, a PEG ratio of 0.36 and a beta of 1.48. The firm has a fifty day moving average price of $170.59 and a 200-day moving average price of $153.62. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $262.72.

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

Analyst Upgrades and Downgrades

FSLR has been the subject of several research reports. BMO Capital Markets boosted their price objective on shares of First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Glj Research reissued a "buy" rating and issued a $214.06 price objective (up from $172.53) on shares of First Solar in a research report on Tuesday. Wall Street Zen raised shares of First Solar from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Hsbc Global Res raised shares of First Solar to a "strong-buy" rating in a research report on Friday, August 1st. Finally, Bank of America boosted their price objective on shares of First Solar from $185.00 to $201.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, First Solar presently has an average rating of "Moderate Buy" and a consensus price target of $224.27.

Institutional Trading of First Solar

Several large investors have recently bought and sold shares of FSLR. Harvest Portfolios Group Inc. boosted its holdings in First Solar by 3.9% during the first quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer's stock worth $210,000 after buying an additional 63 shares in the last quarter. Legend Financial Advisors Inc. boosted its holdings in First Solar by 1.4% during the first quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer's stock worth $598,000 after buying an additional 64 shares in the last quarter. Harrington Investments INC boosted its holdings in First Solar by 0.5% during the second quarter. Harrington Investments INC now owns 13,278 shares of the solar cell manufacturer's stock worth $2,198,000 after buying an additional 65 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in First Solar by 13.4% during the second quarter. Penserra Capital Management LLC now owns 560 shares of the solar cell manufacturer's stock worth $92,000 after buying an additional 66 shares in the last quarter. Finally, Energy Income Partners LLC boosted its holdings in First Solar by 0.8% during the first quarter. Energy Income Partners LLC now owns 9,257 shares of the solar cell manufacturer's stock worth $1,170,000 after buying an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

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.

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