First Solar, Inc. (NASDAQ:FSLR) Director Sells $393,460.00 in Stock

First Solar, Inc. (NASDAQ:FSLR) Director R Craig Kennedy sold 2,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $196.73, for a total value of $393,460.00. Following the completion of the sale, the director now owns 13,908 shares in the company, valued at $2,736,120.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

R Craig Kennedy also recently made the following trade(s):

• On Friday, March 1st, R Craig Kennedy sold 1,500 shares of First Solar stock. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00.

First Solar Stock Performance

Shares of First Solar stock opened at $194.67 on Wednesday. The stock’s fifty day simple moving average is $168.55 and its 200 day simple moving average is $158.92. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $20.84 billion, a PE ratio of 20.41, a PEG ratio of 0.33 and a beta of 1.37. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $232.00.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The business had revenue of $794.10 million for the quarter, compared to analysts’ expectations of $718.19 million. During the same quarter in the previous year, the business posted $0.40 EPS. First Solar’s revenue for the quarter was up 44.8% on a year-over-year basis. On average, research analysts predict that First Solar, Inc. will post 13.55 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dixon Mitchell Investment Counsel Inc. acquired a new position in First Solar in the 1st quarter worth $25,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of First Solar during the fourth quarter worth about $27,000. Estabrook Capital Management bought a new position in shares of First Solar during the third quarter worth about $29,000. Baystate Wealth Management LLC acquired a new stake in First Solar in the 4th quarter valued at approximately $29,000. Finally, Headinvest LLC bought a new stake in First Solar in the 3rd quarter valued at approximately $30,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FSLR shares. Royal Bank of Canada restated an “outperform” rating and issued a $195.00 price target on shares of First Solar in a research report on Wednesday, February 28th. Morgan Stanley boosted their target price on First Solar from $245.00 to $248.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. UBS Group raised their price target on First Solar from $250.00 to $252.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. DZ Bank initiated coverage on First Solar in a research note on Wednesday, April 17th. They issued a “buy” rating and a $205.00 price objective on the stock. Finally, Roth Mkm restated a “buy” rating and issued a $230.00 target price on shares of First Solar in a research note on Thursday, April 18th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $238.16.

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.