Published: Thursday, July 20, 2023 · 5:55 AM | Updated: Thursday, July 20, 2023 · 5:55 AM
📊 1,600 views
On July 18, 2023, Mark Widmar, the CEO of First Solar Inc (
FSLR, Financial), sold 6142 shares of the company. This move is part of a broader trend of insider selling at First Solar Inc, which we will explore in more detail in this article.
Who is Mark Widmar?
Mark Widmar is the Chief Executive Officer of First Solar Inc. He has been with the company since 2011, initially serving as the Chief Financial Officer before taking on the role of CEO in 2016. Widmar has been instrumental in guiding the company through various market conditions and has played a significant role in its growth and development.
About First Solar Inc
First Solar Inc is a leading global provider of comprehensive photovoltaic (PV) solar systems. The company’s integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation. First Solar has developed, financed, engineered, constructed, and currently operates many of the world’s largest grid-connected PV power plants.
Insider Selling Trend
Over the past year, Mark Widmar has sold a total of 104882 shares and has not purchased any shares. This trend is consistent with the overall insider activity at First Solar Inc, which has seen 4 insider buys and 25 insider sells over the same period. This could indicate that insiders believe the stock is currently overvalued, prompting them to sell their shares.
Stock Valuation
On the day of Widmar’s recent sale, shares of First Solar Inc were trading at $206.76, giving the company a market cap of $21.213 billion. This price represents a price-earnings ratio of 509.18, significantly higher than the industry median of 24.69 and the company’s historical median price-earnings ratio.
According to GuruFocus Value, which is calculated based on historical multiples, a GuruFocus adjustment factor, and future business performance estimates, First Solar Inc is significantly overvalued. With a price of $206.76 and a GuruFocus Value of $90.21, the stock has a price-to-GF-Value ratio of 2.29.
Conclusion
The recent sale of shares by CEO Mark Widmar, along with the broader trend of insider selling at First Solar Inc, could be a signal to investors that the stock is currently overvalued. However, investors should also consider other factors, such as the company’s financial health and market conditions, before making any investment decisions.
- CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
- Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
- Double Buys:: Companies that both Gurus and Insiders are buying
- Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.
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