SunPower Co. (NASDAQ:SPWR) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC cut its stake in shares of SunPower Co. (NASDAQ:SPWRGet Rating) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,310 shares of the semiconductor company’s stock after selling 755 shares during the quarter. Essex Investment Management Co. LLC’s holdings in SunPower were worth $1,384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SPWR. Swiss National Bank lifted its holdings in shares of SunPower by 1.4% during the third quarter. Swiss National Bank now owns 190,600 shares of the semiconductor company’s stock worth $4,323,000 after purchasing an additional 2,600 shares during the period. Principal Financial Group Inc. raised its position in SunPower by 22.3% in the third quarter. Principal Financial Group Inc. now owns 14,745 shares of the semiconductor company’s stock worth $334,000 after acquiring an additional 2,685 shares in the last quarter. Teacher Retirement System of Texas raised its position in SunPower by 12.8% in the third quarter. Teacher Retirement System of Texas now owns 13,743 shares of the semiconductor company’s stock worth $312,000 after acquiring an additional 1,559 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in SunPower in the third quarter worth $61,000. Finally, KBC Group NV raised its position in SunPower by 44.0% in the third quarter. KBC Group NV now owns 252,016 shares of the semiconductor company’s stock worth $5,716,000 after acquiring an additional 77,028 shares in the last quarter. 36.61% of the stock is owned by hedge funds and other institutional investors.

Shares of SPWR opened at $15.98 on Wednesday. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of -105.99 and a beta of 2.05. The company’s 50 day simple moving average is $19.40 and its 200 day simple moving average is $21.07. SunPower Co. has a 1 year low of $12.78 and a 1 year high of $34.61.

SunPower (NASDAQ:SPWRGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The semiconductor company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $350.28 million for the quarter, compared to the consensus estimate of $317.56 million. SunPower had a negative net margin of 1.23% and a negative return on equity of 3.50%. The company’s quarterly revenue was up 45.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, equities research analysts expect that SunPower Co. will post 0.24 earnings per share for the current fiscal year.

Several research analysts have issued reports on SPWR shares. Morgan Stanley reiterated a “hold” rating and issued a $21.00 price objective on shares of SunPower in a research report on Friday, April 1st. Raymond James raised their target price on shares of SunPower from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, April 5th. Bank of America raised shares of SunPower from an “underperform” rating to a “neutral” rating and upped their price target for the company from $13.00 to $23.00 in a report on Monday, April 4th. Cowen increased their price target on shares of SunPower from $18.00 to $20.00 in a research report on Friday, April 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of SunPower from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Monday, April 4th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.62.

SunPower Company Profile (Get Rating)

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions to customers primarily in the United States and Canada. It operates through Residential, Light Commercial; Commercial and Industrial Solutions; and Others segments. The company provides solar, storage, and home energy solutions and components through a combination of its third-party installing and non-installing dealer network and resellers, as well as in-house sales team; and turn-key engineering, procurement, and construction services and sale of energy under power purchase agreements.

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Institutional Ownership by Quarter for SunPower (NASDAQ:SPWR)

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