Quinn Opportunity Partners LLC raised its position in shares of SunPower Co. (NASDAQ:SPWR) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,701 shares of the semiconductor company’s stock after purchasing an additional 10,000 shares during the period. Quinn Opportunity Partners LLC owned approximately 0.14% of SunPower worth $1,002,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in SPWR. Northern Trust Corp lifted its stake in shares of SunPower by 0.4% in the fourth quarter. Northern Trust Corp now owns 760,039 shares of the semiconductor company’s stock worth $3,778,000 after buying an additional 3,007 shares in the last quarter. Raymond James & Associates raised its holdings in shares of SunPower by 140.6% during the fourth quarter. Raymond James & Associates now owns 48,327 shares of the semiconductor company’s stock valued at $240,000 after purchasing an additional 28,239 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of SunPower by 14.1% during the fourth quarter. California Public Employees Retirement System now owns 684,902 shares of the semiconductor company’s stock valued at $3,404,000 after purchasing an additional 84,826 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of SunPower by 56.2% during the fourth quarter. First Trust Advisors LP now owns 203,938 shares of the semiconductor company’s stock valued at $1,014,000 after purchasing an additional 73,410 shares during the last quarter. Finally, Canal Insurance CO purchased a new position in shares of SunPower during the fourth quarter valued at approximately $298,000. Institutional investors and hedge funds own 27.58% of the company’s stock.
SPWR stock traded up $0.13 during midday trading on Tuesday, reaching $6.90. 1,589,662 shares of the company’s stock traded hands, compared to its average volume of 1,712,900. SunPower Co. has a 52-week low of $4.55 and a 52-week high of $10.00. The stock has a market cap of $920.40 million, a P/E ratio of -7.84 and a beta of 2.30. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 39.39.
SunPower (NASDAQ:SPWR) last announced its earnings results on Wednesday, February 13th. The semiconductor company reported ($0.25) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.38) by $0.13. The business had revenue of $525.40 million during the quarter, compared to analysts’ expectations of $566.06 million. SunPower had a negative net margin of 46.99% and a negative return on equity of 83.67%. The firm’s revenue was down 36.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share. As a group, equities analysts forecast that SunPower Co. will post -1.11 earnings per share for the current year.
Several research firms have recently weighed in on SPWR. BidaskClub raised shares of SunPower from a “sell” rating to a “hold” rating in a report on Monday. Bank of America cut shares of SunPower from a “neutral” rating to an “underperform” rating and set a $6.00 price objective for the company. in a report on Friday, February 15th. Credit Suisse Group cut shares of SunPower from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $10.00 to $7.00 in a report on Friday, February 15th. ValuEngine raised shares of SunPower from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, Barclays started coverage on shares of SunPower in a report on Monday, January 7th. They set an “underweight” rating and a $4.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. SunPower has a consensus rating of “Hold” and an average target price of $7.04.
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SunPower Company Profile
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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