First Solar, Inc. (NASDAQ:FSLR) Insider Sells $1,021,085.00 in Stock

First Solar, Inc. (NASDAQ:FSLR) insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at $484,793.40. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

First Solar Stock Down 6.3 %

Shares of NASDAQ FSLR opened at $127.63 on Tuesday. The stock has a market cap of $13.66 billion, a PE ratio of 10.99, a P/E/G ratio of 0.19 and a beta of 1.47. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12-month low of $126.54 and a 12-month high of $306.77. The company has a 50-day moving average of $171.20 and a 200 day moving average of $196.97.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results 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 company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. As a group, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FSLR. 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 worth $2,259,697,000 after purchasing an additional 120,289 shares during the period. State Street Corp raised its position in shares of First Solar by 2.2% during the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after buying an additional 108,984 shares during the period. Geode Capital Management LLC grew its position 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 acquiring 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 worth $415,899,000 after acquiring an additional 262,482 shares during the last quarter. Finally, Invesco Ltd. raised its position in First Solar by 13.9% in the fourth quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer’s stock valued at $323,410,000 after purchasing an additional 223,933 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FSLR. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Morgan Stanley decreased their target price on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Piper Sandler lowered their price target on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Truist Financial reiterated a “buy” rating and set a $285.00 price objective (down previously from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Finally, UBS Group lowered their target price on First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

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.