Quantitative Systematic Strategies LLC increased its stake in SunPower Corp. (NASDAQ:SPWR) by 18.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,668 shares of the company’s stock after buying an additional 6,279 shares during the period. Quantitative Systematic Strategies LLC’s holdings in SunPower Corp. were worth $603,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in SPWR. TIAA CREF Investment Management LLC increased its stake in shares of SunPower Corp. by 121.3% in the first quarter. TIAA CREF Investment Management LLC now owns 482,370 shares of the company’s stock valued at $10,776,000 after buying an additional 264,361 shares in the last quarter. Teachers Advisors Inc. increased its stake in shares of SunPower Corp. by 125.0% in the first quarter. Teachers Advisors Inc. now owns 181,644 shares of the company’s stock valued at $4,058,000 after buying an additional 100,921 shares in the last quarter. BlackRock Inc. increased its stake in shares of SunPower Corp. by 101.8% in the first quarter. BlackRock Inc. now owns 6,559 shares of the company’s stock valued at $146,000 after buying an additional 3,308 shares in the last quarter. BlackRock Group LTD increased its stake in shares of SunPower Corp. by 2.7% in the first quarter. BlackRock Group LTD now owns 977,061 shares of the company’s stock valued at $21,828,000 after buying an additional 25,455 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new stake in shares of SunPower Corp. during the first quarter valued at $610,000. 38.75% of the stock is currently owned by institutional investors.
SunPower Corp. (NASDAQ:SPWR) traded up 0.86% on Thursday, reaching $8.23. 1,230,228 shares of the company’s stock were exchanged. SunPower Corp. has a 12-month low of $7.36 and a 12-month high of $31.10. The company’s market cap is $1.14 billion. The firm has a 50 day moving average of $8.98 and a 200-day moving average of $14.77.
SunPower Corp. (NASDAQ:SPWR) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. SunPower Corp. had a negative net margin of 21.75% and a positive return on equity of 10.76%. The business had revenue of $420.50 million for the quarter, compared to analyst estimates of $344.97 million. During the same period in the previous year, the business posted $0.18 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. Equities analysts expect that SunPower Corp. will post $0.32 EPS for the current fiscal year.
SPWR has been the topic of several analyst reports. Robert W. Baird reaffirmed an “outperform” rating and set a $37.00 price target on shares of SunPower Corp. in a research report on Thursday, July 7th. Zacks Investment Research downgraded SunPower Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. TheStreet downgraded SunPower Corp. from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. Guggenheim raised SunPower Corp. from a “neutral” rating to a “buy” rating and increased their price target for the stock from $15.64 to $20.00 in a research report on Wednesday, July 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $27.00 price target (down from $39.00) on shares of SunPower Corp. in a research report on Wednesday, August 3rd. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $24.94.
SunPower Corp. Company Profile
SunPower Corporation is a global energy company. The Company provides solar technology to residential, commercial and utility customers worldwide. The Company operates through three segments: Residential Segment, Commercial Segment and Power Plant Segment. The Company designs, manufactures, and sells rooftop and ground-mounted solar power systems under construction and development agreements.
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