North Star Investment Management Corp. raised its stake in shares of SunPower Co. (NASDAQ:SPWR) by 19.9% in the fourth quarter, Holdings Channel reports. The fund owned 36,200 shares of the semiconductor company’s stock after purchasing an additional 6,000 shares during the period. North Star Investment Management Corp.’s holdings in SunPower were worth $180,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc boosted 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 valued at $45,735,000 after purchasing an additional 580,984 shares during the period. Vanguard Group Inc. boosted 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 valued at $45,735,000 after purchasing an additional 580,984 shares during the period. MetLife Investment Advisors LLC boosted its stake in shares of SunPower by 55.4% in the third quarter. MetLife Investment Advisors LLC now owns 48,884 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 17,431 shares during the period. Baker Avenue Asset Management LP boosted its stake in shares of SunPower by 73.4% in 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 during the period. Finally, Highland Capital Management LP purchased a new position in shares of SunPower in the third quarter valued at approximately $146,000. Institutional investors and hedge funds own 26.41% of the company’s stock.
In related news, insider Vidul Prakash sold 24,826 shares of SunPower stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $6.88, for a total value of $170,802.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 26,470 shares of company stock valued at $179,122 in the last quarter. 0.88% of the stock is owned by insiders.
SunPower (NASDAQ:SPWR) last issued its quarterly earnings results on Tuesday, October 30th. The semiconductor company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.11. SunPower had a negative net margin of 63.38% and a negative return on equity of 24.10%. The company had revenue of $443.40 million during the quarter, compared to the consensus estimate of $478.88 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis. On average, equities research analysts anticipate that SunPower Co. will post -1.04 EPS for the current fiscal year.
Several research firms have recently commented on SPWR. Zacks Investment Research raised shares of SunPower from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research note on Wednesday. Barclays began coverage on shares of SunPower in a research note on Monday. They issued an “underweight” rating and a $4.00 price objective for the company. JPMorgan Chase & Co. set a $9.00 price objective on shares of SunPower and gave the company a “hold” rating in a research note on Wednesday, September 19th. BidaskClub raised shares of SunPower from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. Finally, ValuEngine raised shares of SunPower from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 18th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. SunPower has an average rating of “Hold” and a consensus price target of $8.13.
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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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