First solar’s chief supply chain officer sells $36,513 in stock

TEMPE, Ariz.—Michael Koralewski, Chief Supply Chain Officer at First Solar, Inc. (NASDAQ:FSLR), recently executed a series of stock transactions, according to a regulatory filing with the Securities and Exchange Commission. On March 17, Koralewski sold 273 shares of First Solar common stock at a price of $133.75 per share, amounting to a total transaction value of $36,513. The transaction comes as First Solar, currently valued at $13.7 billion, maintains a strong financial position with more cash than debt on its balance sheet, according to InvestingPro data.

Earlier, on March 14, Koralewski acquired 640 shares of common stock through the vesting of restricted stock units. These shares were issued at no cost as part of First Solar’s 2020 Omnibus Incentive Compensation Plan, which grants restricted stock units to executive officers. The transaction increased his direct ownership to 14,593 shares before the subsequent sale reduced it to 14,320 shares. InvestingPro analysis indicates First Solar appears undervalued, with analysts projecting significant sales growth of 32% for the current year. Over a dozen additional insights are available to InvestingPro subscribers.

The sale of shares was conducted to satisfy tax withholding obligations related to the vesting of the restricted stock units, as noted in the filing. The company maintains a healthy current ratio of 2.45, demonstrating strong liquidity to meet its short-term obligations.

In other recent news, First Solar has partnered with Everstream Analytics to enhance its supply chain resilience and visibility. This collaboration aims to provide First Solar with real-time risk insights and management tools to navigate potential disruptions. Meanwhile, Barclays (LON:BARC) has revised its price target for First Solar to $236, maintaining an Overweight rating. Analyst Christine Cho highlighted the company’s 2025 revenue guidance, which relies on full capacity operations in India, while facilities in Malaysia and Vietnam are expected to underperform.

Mizuho (NYSE:MFG) Securities also adjusted its price target for First Solar to $252, retaining an Outperform rating. The firm’s update noted that First Solar’s U.S. production is progressing as expected, despite some international challenges. UBS has lowered its price target to $285, maintaining a Buy rating, and views the company’s 2025 revenue guidance positively. UBS analysts have adjusted their earnings per share estimates for the coming years due to increased logistical and production costs.

RBC Capital Markets reduced its price target to $251, while keeping an Outperform rating, citing challenges affecting First Solar’s operational efficiency. The company’s fourth-quarter results were impacted by logistics charges and other operational expenses. Despite these issues, RBC Capital noted that First Solar’s estimated gross profit and EBIT exceeded expectations, reflecting some resilience in its financial performance.

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