Norges Bank purchased a new stake in shares of SunPower Co. (NASDAQ:SPWR) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,181,675 shares of the semiconductor company’s stock, valued at approximately $5,873,000. Norges Bank owned approximately 0.84% of SunPower at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc boosted its stake in shares of SunPower by 10.2% during the third 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 in the last quarter. Vanguard Group Inc. boosted its stake in shares of SunPower by 10.2% during the third 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 in the last quarter. Northern Trust Corp boosted its stake in shares of SunPower by 0.4% during the fourth quarter. Northern Trust Corp now owns 760,039 shares of the semiconductor company’s stock valued at $3,778,000 after purchasing an additional 3,007 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of SunPower by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 743,670 shares of the semiconductor company’s stock valued at $3,696,000 after purchasing an additional 31,794 shares in the last quarter. Finally, Rock Point Advisors LLC boosted its stake in shares of SunPower by 22.0% during the fourth quarter. Rock Point Advisors LLC now owns 728,225 shares of the semiconductor company’s stock valued at $3,619,000 after purchasing an additional 131,285 shares in the last quarter. 27.10% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on SPWR shares. Zacks Investment Research raised SunPower from a “strong sell” rating to a “buy” rating and set a $8.25 price objective on the stock in a research note on Tuesday, April 16th. BidaskClub raised SunPower from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. ValuEngine raised SunPower from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. started coverage on SunPower in a research note on Thursday, April 11th. They issued a “neutral” rating and a $7.50 price objective on the stock. Finally, Credit Suisse Group lowered SunPower from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $10.00 to $7.00 in a research note on Friday, February 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. SunPower currently has an average rating of “Hold” and a consensus target price of $7.11.

SunPower stock opened at $7.54 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 39.39. The company has a market capitalization of $1.07 billion, a P/E ratio of -8.57 and a beta of 2.32. SunPower Co. has a one year low of $4.55 and a one year high of $9.60.

SunPower (NASDAQ:SPWR) last posted its quarterly earnings data on Wednesday, February 13th. The semiconductor company reported ($0.25) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.13. The company had revenue of $525.40 million for the quarter, compared to analyst estimates of $566.06 million. SunPower had a negative return on equity of 83.67% and a negative net margin of 46.99%. The firm’s quarterly revenue was down 36.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 earnings per share. Equities analysts predict that SunPower Co. will post -0.89 earnings per share for the current fiscal year.

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About SunPower

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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Institutional Ownership by Quarter for SunPower (NASDAQ:SPWR)

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