Sound Income Strategies LLC Has $56,000 Stock Holdings in First Solar, Inc. $FSLR

Sound Income Strategies LLC grew its position in First Solar, Inc. (NASDAQ:FSLR) by 42.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 336 shares of the solar cell manufacturer’s stock after purchasing an additional 100 shares during the quarter. Sound Income Strategies LLC’s holdings in First Solar were worth $56,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Harvest Portfolios Group Inc. lifted its stake in shares of First Solar by 3.9% during the 1st quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer’s stock worth $210,000 after buying an additional 63 shares during the last quarter. Legend Financial Advisors Inc. lifted its stake in shares of First Solar by 1.4% during the 1st quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer’s stock worth $598,000 after buying an additional 64 shares during the last quarter. Harrington Investments INC lifted its stake in shares of First Solar by 0.5% during the 2nd quarter. Harrington Investments INC now owns 13,278 shares of the solar cell manufacturer’s stock worth $2,198,000 after buying an additional 65 shares during the last quarter. Energy Income Partners LLC lifted its stake in shares of First Solar by 0.8% during the 1st quarter. Energy Income Partners LLC now owns 9,257 shares of the solar cell manufacturer’s stock worth $1,170,000 after buying an additional 72 shares during the last quarter. Finally, Horizon Investments LLC lifted its stake in shares of First Solar by 5.1% during the 1st quarter. Horizon Investments LLC now owns 1,537 shares of the solar cell manufacturer’s stock worth $194,000 after buying an additional 74 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FSLR shares. Guggenheim raised their target price on shares of First Solar from $202.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a report on Friday, August 1st. Royal Bank Of Canada boosted their price objective on shares of First Solar from $188.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday, July 1st. Wall Street Zen raised shares of First Solar from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of First Solar from $225.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.40.

Insider Buying and Selling

In related news, CEO Mark R. Widmar sold 23,912 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the completion of the transaction, the chief executive officer directly owned 87,978 shares in the company, valued at $16,317,279.66. This represents a 21.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total transaction of $124,872.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,715 shares of company stock valued at $5,733,305. 0.48% of the stock is owned by corporate insiders.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $224.82 on Thursday. The firm has a 50 day moving average of $199.26 and a 200-day moving average of $166.49. The stock has a market capitalization of $24.11 billion, a PE ratio of 19.23, a PEG ratio of 0.44 and a beta of 1.38. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $240.60.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating the consensus estimate of $2.68 by $0.50. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, equities research analysts predict that First Solar, Inc. will post 13.05 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.