Baker Avenue Asset Management LP reduced its holdings in shares of SunPower Co. (NASDAQ:SPWR) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 215,344 shares of the semiconductor company’s stock after selling 4,575 shares during the period. Baker Avenue Asset Management LP owned about 0.15% of SunPower worth $1,070,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Canal Insurance CO bought a new stake in SunPower in the 4th quarter worth about $298,000. Vanguard Group Inc grew its stake in shares of SunPower by 10.2% during the 3rd quarter. Vanguard Group Inc now owns 6,265,071 shares of the semiconductor company’s stock valued at $45,735,000 after purchasing an additional 580,984 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of SunPower during the 3rd quarter valued at about $301,000. MetLife Investment Advisors LLC grew its stake in shares of SunPower by 55.4% during the 3rd quarter. MetLife Investment Advisors LLC now owns 48,884 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 17,431 shares during the period. Finally, Highland Capital Management LP purchased a new position in shares of SunPower during the 3rd quarter valued at about $146,000. 27.58% of the stock is owned by hedge funds and other institutional investors.
SPWR has been the topic of a number of analyst reports. BidaskClub raised SunPower from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 21st. Zacks Investment Research raised SunPower from a “hold” rating to a “buy” rating and set a $6.25 price objective on the stock in a research report on Wednesday, January 9th. ValuEngine raised SunPower from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Bank of America cut SunPower from a “neutral” rating to an “underperform” rating and set a $6.00 price target on the stock. in a report on Friday, February 15th. Finally, Barclays initiated coverage on SunPower in a report on Monday, January 7th. They issued an “underweight” rating and a $4.00 price target on the stock. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. SunPower currently has a consensus rating of “Hold” and an average target price of $7.04.
NASDAQ:SPWR opened at $6.32 on Thursday. The company has a debt-to-equity ratio of 39.39, a quick ratio of 1.09 and a current ratio of 1.52. SunPower Co. has a 1 year low of $4.55 and a 1 year high of $10.00. The company has a market capitalization of $879.40 million, a price-to-earnings ratio of -7.18 and a beta of 2.30.
SunPower (NASDAQ:SPWR) last released its earnings results on Wednesday, February 13th. The semiconductor company reported ($0.25) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.13. The firm had revenue of $525.40 million for the quarter, compared to the consensus estimate of $566.06 million. SunPower had a negative return on equity of 83.67% and a negative net margin of 46.99%. The company’s revenue for the quarter was down 36.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. On average, equities analysts expect that SunPower Co. will post -1.11 earnings per share for the current fiscal year.
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SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.
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