Insider sale and vesting activity
First Solar, Inc. (NASDAQ: FSLR) reported an insider transaction involving Chief Commercial Officer Georges Antoun. A Form 4 filed with the Securities and Exchange Commission shows Antoun sold 245 shares of First Solar common stock on March 16 at $200.8 per share, resulting in total proceeds of $49,196. The filing records a decline in his direct ownership to 19,126 shares.
Separate filings show Antoun also acquired 587 shares on March 13 at a $0 cost basis. Those shares resulted from the vesting of restricted stock units originally granted on March 15, 2022. The grant vests annually at a rate of 20% on each anniversary of the grant date.
Market context
At the time of the sale, First Solar shares were trading near $200.42 and the solar manufacturer carried a market capitalization of $21.5 billion.
According to InvestingPro analysis included in company materials, First Solar appears undervalued on current metrics, trading at a price-to-earnings ratio of 14.1. The company is described as having a "GREAT" financial health score and a balance sheet with more cash than debt. Investors are noted as able to consult a Pro Research Report for additional detail.
Earnings, guidance and analyst responses
In corporate results released recently, First Solar reported fourth-quarter earnings that missed expectations by 6% and also fell 5% short of estimates from Deutsche Bank. Management issued revenue guidance for 2026 in a range of $4.9 billion to $5.2 billion, a figure that is 17% below Street expectations and implies a 3% year-over-year decline.
Those results and forward-looking numbers prompted several analyst changes. Deutsche Bank downgraded First Solar from Buy to Hold and cut its price target to $245 from $300. GLJ Research similarly moved its rating to Hold from Buy, citing the weak 2026 outlook. Barclays trimmed its price target to $228 from $279 while keeping an Overweight rating. Guggenheim reduced its price target to $269 from $312 but retained a Buy stance. Jefferies lowered its price target to $205 from $260, maintaining a Hold rating and noting uncertainty over the timing of any recovery.
What the filings show and what remains open
The SEC Form 4 provides a precise snapshot of Antoun's recent personal trading and equity compensation vesting. The company-level disclosures on quarterly performance and 2026 guidance outline the near-term financial landscape, while the analyst reactions reflect differing assessments of the pace and clarity of any recovery.
Where available data is limited, the filings and company guidance establish the recorded events and stated estimates without providing additional clarity on management intent behind the insider sale or on the timing of an operational turnaround.