First Solar (NASDAQ:FSLR) Director Sells $1,219,995.00 in Stock

First Solar, Inc. (NASDAQ:FSLR) Director Michael Sweeney sold 4,500 shares of First Solar stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $271.11, for a total value of $1,219,995.00. Following the sale, the director directly owned 13,662 shares of the company’s stock, valued at $3,703,904.82. This represents a 24.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $267.52 on Thursday. The stock’s 50-day simple moving average is $230.76 and its two-hundred day simple moving average is $191.07. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $281.55. The firm has a market capitalization of $28.71 billion, a P/E ratio of 22.88, a P/E/G ratio of 0.46 and a beta of 1.51. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.56 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business’s revenue was up 79.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.91 EPS. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, equities analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. DZ Bank cut shares of First Solar from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $316.00 price objective on shares of First Solar in a report on Friday, October 31st. Cowen reissued a “buy” rating on shares of First Solar in a research note on Friday, October 31st. Wolfe Research raised their price target on First Solar from $232.00 to $247.00 in a research report on Friday, October 31st. Finally, TD Cowen upped their price objective on First Solar from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.17.

Institutional Trading of First Solar

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. New York State Common Retirement Fund increased its stake in shares of First Solar by 1.8% in the first quarter. New York State Common Retirement Fund now owns 66,960 shares of the solar cell manufacturer’s stock worth $8,466,000 after buying an additional 1,200 shares during the period. Stephens Inc. AR bought a new stake in First Solar in the 1st quarter worth $2,106,000. Slow Capital Inc. increased its position in shares of First Solar by 88.9% in the first quarter. Slow Capital Inc. now owns 43,757 shares of the solar cell manufacturer’s stock valued at $5,532,000 after acquiring an additional 20,594 shares during the period. Signaturefd LLC raised its stake in shares of First Solar by 11.6% during the first quarter. Signaturefd LLC now owns 985 shares of the solar cell manufacturer’s stock valued at $125,000 after acquiring an additional 102 shares during the last quarter. Finally, Sage Private Wealth Group LLC raised its stake in shares of First Solar by 16.2% during the first quarter. Sage Private Wealth Group LLC now owns 1,760 shares of the solar cell manufacturer’s stock valued at $223,000 after acquiring an additional 246 shares during 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.