Brookstone Capital Management Buys 324 Shares of First Solar, Inc. (NASDAQ:FSLR)

Brookstone Capital Management boosted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 23.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,698 shares of the solar cell manufacturer’s stock after purchasing an additional 324 shares during the period. Brookstone Capital Management’s holdings in First Solar were worth $424,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of First Solar in the 1st quarter worth $25,000. Atlas Capital Advisors LLC boosted its position in First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after purchasing an additional 111 shares during the last quarter. Riverview Trust Co bought a new stake in shares of First Solar during the 1st quarter valued at about $32,000. Summit Securities Group LLC bought a new position in shares of First Solar in the 2nd quarter worth approximately $36,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of First Solar in the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FSLR shares. Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. raised their target price on First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Bank of America cut their price target on First Solar from $343.00 to $321.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $315.00 price objective on shares of First Solar in a research report on Wednesday, July 31st. Finally, Barclays increased their target price on shares of First Solar from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $285.44.

First Solar Trading Up 3.1 %

Shares of FSLR opened at $211.49 on Monday. The stock has a market capitalization of $22.64 billion, a PE ratio of 22.17, a P/E/G ratio of 0.38 and a beta of 1.44. The company’s fifty day moving average is $227.56 and its 200 day moving average is $221.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $306.77.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. During the same period in the previous year, the firm posted $1.85 EPS. The business’s quarterly revenue was up 24.6% on a year-over-year basis. Sell-side analysts expect that First Solar, Inc. will post 13.53 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the sale, the insider now directly owns 3,468 shares in the company, valued at $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,885 shares of company stock worth $2,405,757 over the last ninety days. Company insiders own 0.58% of the company’s stock.

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.