First Solar, Inc. (NASDAQ:FSLR) Director R Craig Kennedy Sells 2,000 Shares

First Solar, Inc. (NASDAQ:FSLR) Director R Craig Kennedy sold 2,000 shares of the firm’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 transaction, the director now owns 13,908 shares of the company’s stock, valued at $2,736,120.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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 shares were sold at an average price of $157.76, for a total transaction of $236,640.00.

First Solar Stock Performance

NASDAQ FSLR traded up $0.86 on Tuesday, hitting $194.67. 1,744,051 shares of the company traded hands, compared to its average volume of 2,083,104. The business’s 50 day moving average price is $167.56 and its 200-day moving average price is $158.61. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $232.00. 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 price-to-earnings ratio of 20.41, a P/E/G ratio of 0.33 and a beta of 1.37.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FSLR shares. Susquehanna reiterated a “positive” rating and issued a $258.00 target price on shares of First Solar in a research note on Friday, April 5th. Jefferies Financial Group upped their price objective on First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Janney Montgomery Scott began coverage on First Solar in a report on Friday, April 12th. They issued a “buy” rating and a $236.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and issued a $195.00 price target on shares of First Solar in a research note on Wednesday, February 28th. Finally, UBS Group increased their price objective on First Solar from $250.00 to $252.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.16.

Hedge Funds Weigh In On First Solar

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in First Solar by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,151,817 shares of the solar cell manufacturer’s stock valued at $2,093,515,000 after purchasing an additional 111,786 shares during the period. Schroder Investment Management Group lifted its holdings in shares of First Solar by 16.7% in the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock worth $422,861,000 after buying an additional 351,540 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of First Solar by 10.2% during the third quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer’s stock worth $369,024,000 after acquiring an additional 211,755 shares during the last quarter. Norges Bank purchased a new position in First Solar during the fourth quarter valued at $298,123,000. Finally, Clean Energy Transition LLP increased its holdings in First Solar by 948.8% in the 3rd quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock valued at $191,750,000 after acquiring an additional 1,073,500 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

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.