KBC Group NV Buys 27,270 Shares of SunPower Corporation (SPWR)

KBC Group NV increased its stake in SunPower Corporation (NASDAQ:SPWR) by 73.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,326 shares of the semiconductor company’s stock after acquiring an additional 27,270 shares during the period. KBC Group NV’s holdings in SunPower were worth $469,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPWR. Vanguard Group Inc. grew its position in SunPower by 1.3% in the first quarter. Vanguard Group Inc. now owns 4,324,356 shares of the semiconductor company’s stock worth $26,378,000 after acquiring an additional 54,858 shares in the last quarter. Geode Capital Management LLC grew its position in SunPower by 6.3% in the first quarter. Geode Capital Management LLC now owns 532,710 shares of the semiconductor company’s stock worth $3,249,000 after acquiring an additional 31,526 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in SunPower by 9.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 101,262 shares of the semiconductor company’s stock worth $618,000 after acquiring an additional 8,721 shares in the last quarter. Rhumbline Advisers grew its position in SunPower by 30.9% in the second quarter. Rhumbline Advisers now owns 76,751 shares of the semiconductor company’s stock worth $717,000 after acquiring an additional 18,129 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of SunPower by 422.8% during the second quarter. Legal & General Group Plc now owns 18,245 shares of the semiconductor company’s stock valued at $171,000 after buying an additional 14,755 shares during the period. Institutional investors own 25.64% of the company’s stock.

Shares of SunPower Corporation (SPWR) opened at $9.37 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.02 and a current ratio of 1.41. SunPower Corporation has a 12 month low of $5.84 and a 12 month high of $11.70.

SunPower (NASDAQ:SPWR) last posted its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.60. SunPower had a negative net margin of 24.91% and a negative return on equity of 20.81%. The firm had revenue of $477.20 million during the quarter, compared to the consensus estimate of $383.76 million. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The company’s revenue was down 34.6% on a year-over-year basis. equities analysts expect that SunPower Corporation will post -0.77 earnings per share for the current fiscal year.

In other news, Director Catherine A. Lesjak sold 23,632 shares of SunPower stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $7.50, for a total transaction of $177,240.00. Following the completion of the sale, the director now owns 55,924 shares of the company’s stock, valued at $419,430. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.92% of the company’s stock.

Several research analysts have issued reports on SPWR shares. ValuEngine upgraded SunPower from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Macquarie lowered SunPower from an “outperform” rating to a “neutral” rating in a research report on Friday, September 8th. Zacks Investment Research lowered SunPower from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Cowen restated a “buy” rating and set a $12.00 target price on shares of SunPower in a research report on Sunday, September 17th. Finally, Robert W. Baird upgraded SunPower from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $7.00 to $10.00 in a research report on Monday, December 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. SunPower currently has a consensus rating of “Hold” and an average target price of $9.85.

ILLEGAL ACTIVITY NOTICE: This article was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this article on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright law. The legal version of this article can be viewed at https://sportsperspectives.com/2017/12/17/kbc-group-nv-buys-27270-shares-of-sunpower-corporation-spwr.html.

SunPower Profile

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.

Want to see what other hedge funds are holding SPWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SunPower Corporation (NASDAQ:SPWR).

Institutional Ownership by Quarter for SunPower (NASDAQ:SPWR)

Receive News & Ratings for SunPower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunPower and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply