Insider Selling: First Solar, Inc. (NASDAQ:FSLR) CFO Sells 267 Shares of Stock

First Solar, Inc. (NASDAQ:FSLR) CFO Alexander R. Bradley sold 267 shares of First Solar stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $62.68, for a total value of $16,735.56. Following the sale, the chief financial officer now directly owns 9,623 shares of the company’s stock, valued at $603,169.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

NASDAQ FSLR traded up $1.07 during midday trading on Wednesday, hitting $63.87. The company had a trading volume of 1,316,931 shares, compared to its average volume of 1,345,004. The stock has a market cap of $6.61 billion, a P/E ratio of 46.96, a PEG ratio of 1.20 and a beta of 1.30. The company has a quick ratio of 3.35, a current ratio of 4.05 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average of $65.34. First Solar, Inc. has a twelve month low of $36.51 and a twelve month high of $69.24.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, August 1st. The solar cell manufacturer reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.20). The company had revenue of $585.00 million during the quarter, compared to analyst estimates of $656.80 million. First Solar had a net margin of 0.95% and a return on equity of 0.46%. First Solar’s revenue was up 89.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.46) earnings per share. As a group, equities analysts predict that First Solar, Inc. will post 2.37 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank increased its stake in shares of First Solar by 3.1% in the 1st quarter. Swiss National Bank now owns 143,300 shares of the solar cell manufacturer’s stock valued at $7,572,000 after purchasing an additional 4,300 shares during the last quarter. Texas Permanent School Fund increased its stake in shares of First Solar by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 51,280 shares of the solar cell manufacturer’s stock valued at $2,710,000 after purchasing an additional 1,895 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of First Solar by 35.4% in the 1st quarter. New York State Common Retirement Fund now owns 298,294 shares of the solar cell manufacturer’s stock valued at $15,762,000 after purchasing an additional 77,976 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of First Solar by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 20,200 shares of the solar cell manufacturer’s stock valued at $1,067,000 after purchasing an additional 200 shares during the last quarter. Finally, Hanson & Doremus Investment Management increased its stake in shares of First Solar by 5.3% in the 1st quarter. Hanson & Doremus Investment Management now owns 19,699 shares of the solar cell manufacturer’s stock valued at $1,041,000 after purchasing an additional 996 shares during the last quarter. 61.53% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently weighed in on FSLR shares. BidaskClub raised First Solar from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Barclays reaffirmed a “buy” rating on shares of First Solar in a report on Friday, August 2nd. ValuEngine raised First Solar from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Zacks Investment Research cut First Solar from a “hold” rating to a “sell” rating in a report on Monday, April 29th. Finally, Argus lifted their price objective on First Solar to $66.00 and gave the company an “average” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. First Solar currently has an average rating of “Buy” and an average target price of $70.11.

About First Solar

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.

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