First Solar, Inc. (NASDAQ:FSLR) Director Sells $1,094,000.00 in Stock (2024)

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) Director Michael T. Sweeney sold 4,000 shares of the firm's stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $273.50, for a total value of $1,094,000.00. Following the transaction, the director now owns 16,692 shares of the company's stock, valued at $4,565,262. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

First Solar Stock Down 1.8 %

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FSLR opened at $271.76 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. The company has a market cap of $29.09 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 0.37 and a beta of 1.37. First Solar, Inc. has a one year low of $129.21 and a one year high of $286.60. The business's fifty day moving average is $194.93 and its two-hundred day moving average is $169.23.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, topping the consensus estimate of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The business had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. The business's revenue for the quarter was up 44.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 EPS. Analysts anticipate that First Solar, Inc. will post 13.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

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Wall Street Believes in First Solar Stock’s Bull Cycle

A number of hedge funds have recently modified their holdings of the business. Cambridge Trust Co. boosted its stake in shares of First Solar by 1.6% during the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer's stock valued at $546,000 after acquiring an additional 50 shares during the last quarter. Clean Yield Group boosted its stake in shares of First Solar by 35.6% during the 1st quarter. Clean Yield Group now owns 27,034 shares of the solar cell manufacturer's stock worth $4,563,000 after purchasing an additional 7,104 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of First Solar by 100.3% during the first quarter. Cetera Advisors LLC now owns 5,497 shares of the solar cell manufacturer's stock worth $928,000 after buying an additional 2,753 shares in the last quarter. Cetera Investment Advisers raised its position in shares of First Solar by 1,400.4% in the first quarter. Cetera Investment Advisers now owns 23,991 shares of the solar cell manufacturer's stock valued at $4,050,000 after buying an additional 22,392 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of First Solar during the first quarter valued at approximately $21,815,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FSLR. Bank of America lifted their target price on First Solar from $187.00 to $194.00 and gave the company a "buy" rating in a report on Wednesday, April 10th. Roth Mkm reissued a "buy" rating and set a $320.00 price objective (up from $230.00) on shares of First Solar in a research report on Friday. Evercore ISI raised shares of First Solar from an "in-line" rating to an "outperform" rating and set a $227.00 target price on the stock in a report on Tuesday, April 23rd. Susquehanna reiterated a "positive" rating and issued a $258.00 price target on shares of First Solar in a research note on Friday, April 5th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $195.00 price objective on shares of First Solar in a research report on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of "Moderate Buy" and an average target price of $251.16.

First Solar Heats Up Rebound In Solar Energy Demand

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First Solar Company Profile

(Get Free Report)

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.