SG Americas Securities LLC boosted its holdings in shares of SunPower Co. (NASDAQ:SPWR) by 75.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,935 shares of the semiconductor company’s stock after acquiring an additional 11,124 shares during the period. SG Americas Securities LLC’s holdings in SunPower were worth $129,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc grew its stake in shares of SunPower by 10.2% in the third quarter. Vanguard Group Inc now owns 6,265,071 shares of the semiconductor company’s stock worth $45,735,000 after acquiring an additional 580,984 shares during the period. Vanguard Group Inc. lifted its holdings in 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. Rock Point Advisors LLC lifted its holdings in SunPower by 46.7% during the third quarter. Rock Point Advisors LLC now owns 596,940 shares of the semiconductor company’s stock valued at $4,358,000 after purchasing an additional 189,990 shares in the last quarter. Baker Avenue Asset Management LP lifted its holdings in SunPower by 73.4% during the third quarter. Baker Avenue Asset Management LP now owns 219,919 shares of the semiconductor company’s stock valued at $1,605,000 after purchasing an additional 93,098 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in SunPower during the third quarter valued at approximately $301,000. 27.58% of the stock is owned by institutional investors.
A number of equities research analysts recently issued reports on the stock. BidaskClub raised shares of SunPower from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 21st. Credit Suisse Group downgraded shares of SunPower from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $10.00 to $7.00 in a research note on Friday, February 15th. Bank of America downgraded shares of SunPower from a “neutral” rating to an “underperform” rating and set a $6.00 price target on the stock. in a research note on Friday, February 15th. Zacks Investment Research upgraded shares of 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. Finally, Barclays assumed coverage on shares of SunPower in a research report on Monday, January 7th. They set an “underweight” rating and a $4.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $7.04.
SunPower stock traded up $0.26 during midday trading on Monday, hitting $6.77. 1,838,600 shares of the company’s stock were exchanged, compared to its average volume of 1,713,692. The company has a debt-to-equity ratio of 39.39, a current ratio of 1.52 and a quick ratio of 1.09. SunPower Co. has a 12 month low of $4.55 and a 12 month high of $10.00. The stock has a market cap of $935.94 million, a price-to-earnings ratio of -7.69 and a beta of 2.30.
SunPower (NASDAQ:SPWR) last released its quarterly earnings results on Wednesday, February 13th. The semiconductor company reported ($0.25) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.13. The business had revenue of $525.40 million during the quarter, compared to analyst estimates of $566.06 million. SunPower had a negative net margin of 46.99% and a negative return on equity of 83.67%. The company’s quarterly revenue was down 36.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. On average, equities analysts expect that SunPower Co. will post -1.11 earnings per share for the current 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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