Brookstone Capital Management Makes New Investment in First Solar, Inc. (NASDAQ:FSLR)

Brookstone Capital Management bought a new position in First Solar, Inc. (NASDAQ:FSLR) during the first quarter, Holdings Channel.com reports. The institutional investor bought 1,446 shares of the solar cell manufacturer’s stock, valued at approximately $244,000.

A number of other institutional investors have also bought and sold shares of the business. Davis Investment Partners LLC purchased a new position in First Solar in the 1st quarter worth approximately $1,130,000. Beech Hill Advisors Inc. lifted its stake in First Solar by 20.6% in the 1st quarter. Beech Hill Advisors Inc. now owns 27,201 shares of the solar cell manufacturer’s stock worth $4,592,000 after purchasing an additional 4,654 shares in the last quarter. Gilman Hill Asset Management LLC lifted its stake in First Solar by 5.4% in the 1st quarter. Gilman Hill Asset Management LLC now owns 1,950 shares of the solar cell manufacturer’s stock worth $329,000 after purchasing an additional 100 shares in the last quarter. Riverview Trust Co purchased a new position in First Solar in the 1st quarter worth approximately $32,000. Finally, Doliver Advisors LP increased its holdings in shares of First Solar by 3.2% during the 1st quarter. Doliver Advisors LP now owns 5,246 shares of the solar cell manufacturer’s stock worth $886,000 after buying an additional 163 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at First Solar

In other news, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the sale, the chief financial officer now directly owns 30,652 shares of the company’s stock, valued at approximately $8,419,797.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Alexander R. Bradley sold 16,051 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total value of $4,409,049.19. Following the completion of the sale, the chief financial officer now directly owns 30,652 shares of the company’s stock, valued at $8,419,797.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Caroline Stockdale sold 12,406 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $205.00, for a total transaction of $2,543,230.00. Following the completion of the sale, the insider now directly owns 22,025 shares of the company’s stock, valued at $4,515,125. The disclosure for this sale can be found here. In the last three months, insiders sold 55,490 shares of company stock valued at $13,301,803. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of First Solar from $240.00 to $262.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Susquehanna restated a “positive” rating and set a $258.00 price target on shares of First Solar in a report on Friday, April 5th. Bank of America raised their price target on shares of First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Robert W. Baird cut their price target on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Roth Mkm restated a “buy” rating and set a $320.00 price target (up previously from $230.00) on shares of First Solar in a report on Friday, May 31st. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $266.04.

First Solar Price Performance

First Solar stock opened at $216.73 on Wednesday. The stock has a market cap of $23.20 billion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 0.30 and a beta of 1.44. The company has a fifty day simple moving average of $234.23 and a 200-day simple moving average of $186.29. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.30. The business had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The company’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 EPS. Equities analysts expect that First Solar, Inc. will post 13.59 EPS for the current fiscal year.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.