Georges Antoun Sells 8,481 Shares of First Solar, Inc. (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLR) insider Georges Antoun sold 8,481 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.04, for a total value of $509,199.24. Following the transaction, the insider now directly owns 107,946 shares of the company’s stock, valued at $6,481,077.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

FSLR opened at $58.04 on Friday. The company has a market cap of $6.18 billion, a price-to-earnings ratio of 42.68, a P/E/G ratio of 1.03 and a beta of 1.32. First Solar, Inc. has a 52 week low of $36.51 and a 52 week high of $69.89. The company has a quick ratio of 3.83, a current ratio of 4.38 and a debt-to-equity ratio of 0.11.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, May 2nd. The solar cell manufacturer reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.52). The business had revenue of $532.00 million for the quarter, compared to analysts’ expectations of $596.32 million. First Solar had a negative return on equity of 0.12% and a negative net margin of 0.28%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period last year, the company posted $0.78 earnings per share. On average, equities research analysts expect that First Solar, Inc. will post 2.41 earnings per share for the current fiscal year.

FSLR has been the subject of several research reports. Roth Capital set a $75.00 target price on First Solar and gave the company a “buy” rating in a report on Monday, April 22nd. BidaskClub downgraded First Solar from a “hold” rating to a “sell” rating in a report on Saturday, February 9th. Goldman Sachs Group set a $75.00 target price on First Solar and gave the company a “buy” rating in a report on Wednesday, April 10th. Bank of America reissued a “buy” rating and issued a $60.00 target price on shares of First Solar in a report on Tuesday, February 26th. Finally, JPMorgan Chase & Co. reduced their target price on First Solar to $70.00 and set an “overweight” rating for the company in a report on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $63.85.

Several hedge funds have recently modified their holdings of FSLR. Kentucky Retirement Systems purchased a new position in shares of First Solar during the 3rd quarter worth approximately $318,000. Deane Retirement Strategies Inc. raised its stake in shares of First Solar by 2.6% during the 4th quarter. Deane Retirement Strategies Inc. now owns 36,572 shares of the solar cell manufacturer’s stock worth $1,553,000 after buying an additional 911 shares in the last quarter. Prentiss Smith & Co. Inc. raised its stake in shares of First Solar by 19,612.5% during the 4th quarter. Prentiss Smith & Co. Inc. now owns 92,846 shares of the solar cell manufacturer’s stock worth $3,942,000 after buying an additional 92,375 shares in the last quarter. Daiwa SB Investments Ltd. raised its stake in shares of First Solar by 92.3% during the 4th quarter. Daiwa SB Investments Ltd. now owns 260,778 shares of the solar cell manufacturer’s stock worth $11,071,000 after buying an additional 125,163 shares in the last quarter. Finally, Cornerstone Advisors Inc. raised its stake in shares of First Solar by 74.3% during the 4th quarter. Cornerstone Advisors Inc. now owns 3,629 shares of the solar cell manufacturer’s stock worth $154,000 after buying an additional 1,547 shares in the last quarter. 61.95% of the stock is owned by institutional investors and hedge funds.

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First Solar Company Profile

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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Insider Buying and Selling by Quarter for First Solar (NASDAQ:FSLR)

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