Brendel Financial Advisors LLC Increases Holdings in First Solar, Inc. $FSLR

Key Points

• Brendel Financial Advisors LLC boosted its stake in First Solar by 976.9% in Q4, ending the period with 10,974 shares valued at $2.87 million, while roughly 92.08% of the stock is held by hedge funds and other institutional investors.
• First Solar reported Q4 EPS of $4.84 (missing the $5.22 estimate) but revenue beat at $1.68 billion; the company posted a 29.28% net margin and analysts have a consensus rating of “Moderate Buy” with an average target of $246.13.
• Insiders have been net sellers: CFO Alexander R. Bradley sold 14,106 shares (about $2.82 million) and insiders sold a total of 75,989 shares worth $14.92 million over the last 90 days, leaving insiders with roughly 0.39% ownership.

Brendel Financial Advisors LLC boosted its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 976.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,974 shares of the solar cell manufacturer's stock after purchasing an additional 9,955 shares during the period. Brendel Financial Advisors LLC's holdings in First Solar were worth $2,867,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its stake in shares of First Solar by 308.6% in the fourth quarter. Farther Finance Advisors LLC now owns 5,218 shares of the solar cell manufacturer's stock valued at $1,363,000 after buying an additional 3,941 shares in the last quarter. Sage Mountain Advisors LLC acquired a new position in First Solar during the 4th quarter worth approximately $211,000. Patton Fund Management Inc. lifted its position in First Solar by 1,942.7% during the 4th quarter. Patton Fund Management Inc. now owns 28,884 shares of the solar cell manufacturer's stock worth $7,545,000 after acquiring an additional 27,470 shares in the last quarter. Assetmark Inc. boosted its holdings in First Solar by 33.3% in the 4th quarter. Assetmark Inc. now owns 597 shares of the solar cell manufacturer's stock worth $156,000 after acquiring an additional 149 shares during the period. Finally, Patten Group Inc. boosted its holdings in First Solar by 10.0% in the 4th quarter. Patten Group Inc. now owns 1,403 shares of the solar cell manufacturer's stock worth $367,000 after acquiring an additional 128 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

FSLR stock opened at $200.61 on Wednesday. The company has a quick ratio of 2.35, a current ratio of 2.67 and a debt-to-equity ratio of 0.03. First Solar, Inc. has a 52-week low of $119.09 and a 52-week high of $285.99. The stock's 50 day moving average is $206.79 and its two-hundred day moving average is $234.73. The company has a market capitalization of $21.56 billion, a PE ratio of 14.12, a P/E/G ratio of 0.43 and a beta of 1.61.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 EPS for the quarter, missing the consensus estimate of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter last year, the company posted $3.65 earnings per share. The business's quarterly revenue was up 11.1% compared to the same quarter last year. Analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of analyst reports. Freedom Capital lowered shares of First Solar from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 26th. BMO Capital Markets decreased their target price on shares of First Solar from $263.00 to $252.00 and set a "market perform" rating for the company in a research note on Friday, March 27th. Guggenheim lowered their price target on shares of First Solar from $312.00 to $269.00 and set a "buy" rating for the company in a report on Tuesday, March 17th. Wolfe Research downgraded shares of First Solar from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 26th. Finally, Susquehanna cut their price objective on shares of First Solar from $280.00 to $250.00 and set a "positive" rating on the stock in a report on Thursday, April 9th. Twenty research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $246.13.

Insider Transactions at First Solar

In other First Solar news, CFO Alexander R. Bradley sold 14,106 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $199.97, for a total transaction of $2,820,776.82. Following the transaction, the chief financial officer directly owned 30,000 shares in the company, valued at $5,999,100. This represents a 31.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Caroline Stockdale sold 335 shares of the firm's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $200.80, for a total transaction of $67,268.00. Following the transaction, the insider directly owned 34,060 shares of the company's stock, valued at approximately $6,839,248. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 75,989 shares of company stock valued at $14,921,902 over the last ninety days. 0.39% of the stock is currently owned by corporate insiders.

About First Solar

First Solar, Inc NASDAQ: FSLR is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.

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