Brookstone Capital Management Decreases Position in First Solar, Inc. (NASDAQ:FSLR)

Brookstone Capital Management decreased its position in First Solar, Inc. (NASDAQ:FSLR) by 20.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,349 shares of the solar cell manufacturer’s stock after selling 349 shares during the period. Brookstone Capital Management’s holdings in First Solar were worth $238,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. AlphaMark Advisors LLC purchased a new position in shares of First Solar in the third quarter worth about $25,000. Strengthening Families & Communities LLC purchased a new position in First Solar in the 3rd quarter valued at approximately $25,000. Kennebec Savings Bank bought a new stake in First Solar during the 3rd quarter valued at $29,000. Itau Unibanco Holding S.A. purchased a new stake in shares of First Solar during the second quarter worth $38,000. Finally, Larson Financial Group LLC grew its position in shares of First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FSLR. Hsbc Global Res raised First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group cut their price objective on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and boosted their price target for the company from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Morgan Stanley lowered their price target on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and an average target price of $277.75.

First Solar Stock Performance

Shares of FSLR stock opened at $192.88 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. The company has a market capitalization of $20.65 billion, a P/E ratio of 16.61, a PEG ratio of 0.21 and a beta of 1.49. The stock has a 50 day moving average price of $190.18 and a two-hundred day moving average price of $209.63.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company earned $2.50 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Analysts expect that First Solar, Inc. will post 13.09 earnings per share for the current 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.