First Solar (NASDAQ:FSLR) Reaches New 1-Year Low – Time to Sell?

First Solar, Inc. (NASDAQ:FSLR) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $124.53 and last traded at $126.34, with a volume of 3692912 shares traded. The stock had previously closed at $131.46.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FSLR shares. Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $218.00 to $259.00 in a research note on Tuesday, February 11th. Barclays reduced their target price on First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on shares of First Solar in a research note on Thursday, February 27th. Robert W. Baird decreased their target price on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $262.08.

First Solar Price Performance

The company has a market cap of $13.53 billion, a price-to-earnings ratio of 10.88, a P/E/G ratio of 0.19 and a beta of 1.52. The company’s 50-day simple moving average is $152.88 and its 200-day simple moving average is $186.29. 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 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 net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. On average, equities research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Buying and Selling

In related news, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the sale, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Georges Antoun sold 229 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the transaction, the insider now owns 52,836 shares in the company, valued at $7,066,815. This trade represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Solar

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in First Solar by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock valued at $2,259,697,000 after buying an additional 120,289 shares in the last quarter. State Street Corp lifted its stake in First Solar by 2.2% during the third quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after purchasing an additional 108,984 shares during the last quarter. Geode Capital Management LLC boosted its holdings in First Solar by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer’s stock worth $469,154,000 after purchasing an additional 63,739 shares during the period. Wellington Management Group LLP increased its stake in First Solar by 12.5% during the fourth quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock valued at $415,899,000 after purchasing an additional 262,482 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of First Solar by 13.9% during the fourth quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer’s stock worth $323,410,000 after purchasing an additional 223,933 shares during the period. Institutional investors and hedge funds 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.