State Street Corp increased its stake in SunPower Corporation (NASDAQ:SPWR) by 14.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,421,834 shares of the semiconductor company’s stock after purchasing an additional 296,862 shares during the quarter. State Street Corp owned approximately 1.74% of SunPower Corporation worth $22,619,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of SPWR. Vanguard Group Inc. increased its stake in SunPower Corporation by 13.8% in the 2nd quarter. Vanguard Group Inc. now owns 4,922,577 shares of the semiconductor company’s stock worth $45,977,000 after purchasing an additional 598,221 shares in the last quarter. Northern Trust Corp increased its stake in SunPower Corporation by 141.3% in the 2nd quarter. Northern Trust Corp now owns 845,237 shares of the semiconductor company’s stock worth $7,894,000 after purchasing an additional 494,979 shares in the last quarter. GAM Holding AG increased its stake in SunPower Corporation by 970.8% in the 2nd quarter. GAM Holding AG now owns 428,311 shares of the semiconductor company’s stock worth $4,000,000 after purchasing an additional 388,311 shares in the last quarter. Delta Lloyd Asset Management N.V. purchased a new position in SunPower Corporation in the 2nd quarter worth about $2,895,000. Finally, Balyasny Asset Management LLC increased its stake in SunPower Corporation by 1,917.4% in the 2nd quarter. Balyasny Asset Management LLC now owns 302,206 shares of the semiconductor company’s stock worth $2,823,000 after purchasing an additional 287,226 shares in the last quarter. 27.90% of the stock is currently owned by hedge funds and other institutional investors.
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A number of equities analysts recently weighed in on the company. BidaskClub cut SunPower Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Cowen and Company reissued a “buy” rating and issued a $12.00 price target on shares of SunPower Corporation in a research note on Sunday, September 17th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $13.00 price target (up previously from $10.00) on shares of SunPower Corporation in a research note on Wednesday, August 2nd. ValuEngine lowered SunPower Corporation from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. Finally, Vetr lowered SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $12.52 price objective for the company. in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $9.34.
Shares of SunPower Corporation (NASDAQ:SPWR) opened at $8.33 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 1.71. SunPower Corporation has a 1-year low of $5.84 and a 1-year high of $11.70.
SunPower Corporation (NASDAQ:SPWR) last announced its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.60. The business had revenue of $477.20 million during the quarter, compared to analyst estimates of $383.76 million. SunPower Corporation had a negative return on equity of 20.81% and a negative net margin of 24.91%. The firm’s revenue was down 34.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. equities analysts predict that SunPower Corporation will post -0.77 earnings per share for the current fiscal year.
About SunPower Corporation
SunPower Corporation is a global energy company. The Company delivers complete solar solutions to residential, commercial, and power plant customers. The Company’s segments include Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation.
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