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In recent transactions involving First Solar, Inc. (NASDAQ:FSLR), a $13.7 billion market cap solar technology company, Chief Product Officer Patrick James Buehler sold 186 shares of common stock on March 17. The shares were sold at a price of $133.75 each, amounting to a total of $24,877. This sale was conducted to satisfy tax withholding obligations related to the vesting of restricted stock units. The stock has experienced significant volatility recently, declining nearly 47% over the past six months and currently trading near its 52-week low of $124.96.
Earlier, on March 14, Buehler acquired 427 shares of common stock following the vesting of 20% of previously granted restricted stock units from March 15, 2022. These shares were acquired at no cost as part of the company’s 2020 Omnibus Incentive Compensation Plan. After these transactions, Buehler holds 7,866 shares of First Solar common stock. According to InvestingPro analysis, First Solar appears undervalued at current levels, with strong financial health metrics and 13 key insights available for subscribers.
In other recent news, First Solar has announced a partnership with Everstream Analytics to enhance its supply chain resilience and visibility. This collaboration aims to provide First Solar with risk insights, mitigation strategies, and supplier data management to address potential geopolitical and weather-related disruptions. Barclays (LON:BARC) recently revised its price target for First Solar to $236, maintaining an Overweight rating. The adjustment reflects expectations that the company’s Indian operations will continue to run near full capacity, while facilities in Malaysia and Vietnam may underperform.
Mizuho (NYSE:MFG) Securities also adjusted its price target to $252 but maintained an Outperform rating, citing stable pricing in the U.S. market. UBS revised its price target to $285, maintaining a Buy rating, and noted that First Solar’s U.S. production ramp-up is progressing well. UBS highlighted the company’s competitive edge due to its U.S.-manufactured solar modules. RBC Capital Markets reduced its price target to $251, maintaining an Outperform rating, citing several challenges impacting First Solar’s operational efficiency. Despite these challenges, First Solar’s gross profit and EBIT estimates exceeded both RBC and consensus expectations.
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