Insider Selling: First Solar, Inc. (NASDAQ:FSLR) CEO Sells $262,952.50 in Stock

First Solar, Inc. (NASDAQ:FSLR) CEO Mark R. Widmar sold 1,966 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $262,952.50. Following the transaction, the chief executive officer now directly owns 111,890 shares in the company, valued at approximately $14,965,287.50. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

First Solar Stock Down 0.7 %

Shares of NASDAQ FSLR opened at $128.46 on Friday. The company has a 50 day simple moving average of $157.42 and a 200 day simple moving average of $188.89. The firm has a market cap of $13.75 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 1 year low of $124.96 and a 1 year high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. On average, research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FSLR. Barclays lowered their price target on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. lowered their price target on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft set a $265.00 price target on shares of First Solar in a research report on Thursday, February 27th. Morgan Stanley reduced their price objective on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Finally, Roth Mkm reiterated a “buy” rating and set a $280.00 price objective on shares of First Solar in a research note on Wednesday, February 26th. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC raised its holdings in First Solar by 0.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after purchasing an additional 55 shares during the last quarter. Doliver Advisors LP raised its holdings in First Solar by 1.2% during the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after purchasing an additional 56 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares during the last quarter. Independent Advisor Alliance raised its holdings in First Solar by 3.1% during the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock worth $368,000 after purchasing an additional 63 shares during the last quarter. Finally, Huntington National Bank increased its stake in shares of First Solar by 15.3% in the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer’s stock valued at $90,000 after acquiring an additional 68 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

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.