Patrick James Buehler, First Solar, Inc.'s Chief Product Officer, sold 697 shares of the company's common stock on March 9, 2026, at a per-share price of $190.36, for a total transaction value of $132,680. At the time of reporting, First Solar shares were quoted at $197.80 and the stock had declined 24% year-to-date.
Earlier in the same week, on March 6, 2026, Buehler executed option exercises to acquire 1,675 shares of First Solar common stock at a price of $0. Those exercises were tied to the vesting of restricted stock units originally granted on March 6 in the years 2021, 2023, 2024 and 2025; the shares issued reflect that vesting schedule. In addition, on March 6 Buehler was granted 1,903 restricted stock units.
Independent valuation analysis cited alongside the trading activity indicated the stock appears undervalued on Fair Value metrics. The company is reported to trade with a price-to-earnings ratio of 14.1 and carries a "GREAT" financial health score under that evaluation.
Earnings and guidance context
First Solar's fourth-quarter earnings came in roughly 6% below expectations, and the company's revenue guidance for fiscal 2026 was cited as running about 17% below Street expectations. That guidance points to a year-over-year revenue decline for 2026. While the company met its full-year 2025 net income estimates, the overall results were described as slightly below consensus, a factor analysts noted as they adjusted views on the stock.
Analyst moves
- Deutsche Bank downgraded First Solar to Hold and lowered its price target to $245 from $300.
- GLJ Research cut its rating to Hold from Buy, referencing the weak guidance for 2026 as an important consideration.
- Barclays trimmed its price target to $228 from $279 but kept an Overweight rating on the shares.
- Jefferies reduced its price target to $205 from $260 while maintaining a Hold rating, citing limited visibility on recovery.
- HSBC downgraded the stock to Hold from Buy and set a price target of $211, pointing to the weaker-than-expected fiscal 2026 guidance.
These corporate insider transactions - a combination of option exercises, new restricted stock unit grants and a separate sale of common shares - occurred within days of the company's public disclosures that prompted a series of analyst revisions. The mix of executive equity actions and revised analyst assumptions provides additional context for investors assessing the company's near-term outlook.
Given the data reported, market participants have a range of valuation inputs to weigh, including the stated P/E ratio of 14.1 and the Fair Value assessment cited above. At the same time, the company's weaker revenue guidance for 2026 and slightly miss on consensus-level metrics for 2025 have contributed to more cautious analyst stances.