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TEMPE, AZ—Caroline Stockdale, Chief People and Communications Officer at First Solar, Inc. (NASDAQ:FSLR), recently executed a stock transaction according to a Form 4 filing with the Securities and Exchange Commission. On March 17, Stockdale sold 341 shares of First Solar’s common stock at a price of $133.75 per share, resulting in a total sale of $45,608. The transaction comes as First Solar’s stock trades near its 52-week low of $124.96, with shares down approximately 47% over the past six months. According to InvestingPro analysis, the company currently appears undervalued.
Earlier, on March 14, Stockdale acquired 801 shares of common stock at no cost, as part of the vesting of restricted stock units granted in March 2022. This acquisition increased her direct ownership to 30,659 shares following the transactions.
The sale of shares was made to cover tax obligations associated with the vesting of these restricted stock units.
In other recent news, First Solar has made strategic moves to enhance its supply chain resilience by partnering with Everstream Analytics. This collaboration aims to provide First Solar with real-time insights and risk management tools to improve supply chain agility and resilience. Additionally, several financial firms have adjusted their outlooks on First Solar’s stock. Barclays (LON:BARC) reduced its price target to $236, maintaining an Overweight rating, and highlighted production dynamics across First Solar’s facilities as a significant factor. Mizuho (NYSE:MFG) also lowered its price target to $252 while maintaining an Outperform rating, noting that the company’s U.S. production is progressing as planned despite some international challenges. UBS adjusted its price target to $285, maintaining a Buy rating, and emphasized First Solar’s competitive edge with its U.S.-manufactured solar modules. RBC Capital Markets decreased its price target to $251, citing challenges that have impacted the company’s recent performance, although they maintain an Outperform rating. These developments follow First Solar’s recent financial guidance, which has prompted analysts to adjust their earnings estimates due to increased costs related to logistics and production ramping.
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