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TEMPE, Ariz.—Kuntal Kumar Verma, Chief Manufacturing Officer at First Solar, Inc. (NASDAQ:FSLR), recently sold shares of the company’s common stock. According to a filing with the Securities and Exchange Commission, Verma disposed of 404 shares on March 17 at a price of $133.75 per share, amounting to a total transaction value of $54,035.
This sale follows a transaction on March 14, where Verma acquired 907 shares of common stock through the vesting of restricted stock units. These shares were issued at no cost as part of the company’s 2020 Omnibus Incentive Compensation Plan, which vests annually over a five-year period.
Post-transaction, Verma holds a total of 5,198 shares in the company. The shares sold were primarily to cover tax withholding obligations related to the vesting of restricted stock units.
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 insight and mitigation strategies to address potential disruptions. In financial updates, Barclays (LON:BARC) has revised its price target for First Solar to $236, maintaining an Overweight rating, while Mizuho (NYSE:MFG) Securities adjusted their target to $252, keeping an Outperform rating. UBS also lowered its price target to $285, maintaining a Buy rating, and noted that First Solar’s revenue guidance for 2025 is slightly above consensus expectations. RBC Capital Markets reduced its price target to $251, citing challenges impacting First Solar’s operational efficiency and gross margins.
First Solar’s 2025 revenue guidance ranges from $5.3 to $5.8 billion, with a mid-point of $5.55 billion, which UBS analysts view positively. The company is facing international production challenges, especially in Malaysia and Vietnam, but plans to maintain full production at its Indian facility. First Solar is also advancing its U.S. production, with facilities in Alabama and Louisiana expected to ramp up production in 2025. Despite some operational setbacks, First Solar’s domestic production remains a key strength, supported by its technological advantages and strategic adjustments in response to market conditions.
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