First Solar, Inc. (NASDAQ:FSLR) disclosed that Jason E. Dymbort, the company's General Counsel and Secretary, sold 1,305 shares of common stock on March 9, 2026, at $190.36 per share, for a total consideration of approximately $248,419. The sale occurred while First Solar's shares were trading near $197.80, reflecting a 24% decline year-to-date despite a 42% gain over the prior 12 months.
The insider activity on March 6, 2026 included Dymbort exercising options to acquire 2,960 shares of First Solar common stock at an exercise price of $0. Related transactions were tied to the scheduled vesting of restricted stock units issued over a number of years.
According to the filing, the vesting breakdown responsible for the issued shares is as follows:
- 760 shares issued from the vesting of 20% of units granted on March 6, 2021;
- 471 shares issued from the vesting of 20% of units granted on March 6, 2023;
- 758 shares issued from the vesting of 25% of units granted on March 6, 2024;
- 1,067 shares issued from the vesting of 25% of units granted on March 6, 2025.
In addition to those vested shares, Dymbort acquired 2,960 restricted stock units on March 6, 2026, which are reported to vest on an annual schedule. After completing the described transactions, Dymbort's direct ownership position in First Solar stands at 18,376 shares.
On valuation metrics, the $21.2 billion solar manufacturer trades at a price-to-earnings ratio of 14.1. InvestingPro analysis referenced in the disclosure indicates that this P/E implies the company may be trading below its Fair Value, according to that service's models.
Market sentiment toward First Solar has softened following the company's recent guidance and quarterly results. Several research firms have adjusted their recommendations and targets in response to what they describe as weaker-than-expected forward guidance for 2026 and near-term earnings dynamics.
Notable analyst moves include Deutsche Bank lowering its rating to Hold from Buy, citing a fourth-quarter earnings result that missed expectations by 6% and a 2026 revenue guidance figure that it says is 17% below Street expectations. HSBC also moved to a Hold rating after observing that First Solar's 2025 earnings met the firm's own estimates but were slightly below consensus.
GLJ Research downgraded the company to Hold from Buy, pointing specifically to a meaningful shortfall in 2026 guidance across revenue, volumes, and EBITDA. Jefferies trimmed its price target to $205 from $260 and retained a Hold rating while noting limited visibility on the timing of any recovery. Barclays reduced its price target to $228 from $279 but kept an Overweight rating.
These actions by multiple research houses underscore the cautious tone that has emerged around First Solar amid its updated guidance and reported earnings results.
Contextual note: The facts above are drawn from the company's reported filings and published analyst actions. The disclosure that InvestingPro characterizes the stock as undervalued is included as part of the available data but does not alter the reported trading activity or analyst commentary.