TIAA CREF Investment Management LLC Trims Position in SunPower Co. (SPWR)

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TIAA CREF Investment Management LLC decreased its holdings in SunPower Co. (NASDAQ:SPWR) by 3.1% in the 3rd quarter, Holdings Channel reports. The firm owned 130,141 shares of the semiconductor company’s stock after selling 4,220 shares during the period. TIAA CREF Investment Management LLC’s holdings in SunPower were worth $950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc raised its stake in shares of SunPower by 10.2% during 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. raised its stake in shares of SunPower by 10.2% during 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 raised its stake in shares of SunPower by 55.4% during 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 raised its stake in shares of SunPower by 73.4% during 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 stake in shares of SunPower during the third quarter valued at approximately $146,000. Hedge funds and other institutional investors own 26.41% of the company’s stock.

SPWR has been the topic of a number of analyst reports. Barclays assumed coverage on shares of SunPower in a research note on Monday, January 7th. They set an “underweight” rating and a $4.00 price objective on the stock. BidaskClub raised shares of SunPower from a “strong sell” rating to a “sell” rating in a research report on Wednesday, November 28th. ValuEngine raised shares of SunPower from a “sell” rating to a “hold” rating in a research report on Wednesday, October 17th. Finally, Zacks Investment Research raised shares of SunPower from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a research report on Wednesday, January 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. SunPower has an average rating of “Hold” and a consensus price target of $8.13.

SPWR stock opened at $5.81 on Tuesday. SunPower Co. has a twelve month low of $4.55 and a twelve month high of $10.00. The company has a debt-to-equity ratio of 39.39, a current ratio of 1.70 and a quick ratio of 1.17. The company has a market cap of $821.14 million, a PE ratio of -14.17 and a beta of 2.24.

In other news, insider Vidul Prakash sold 24,826 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $6.88, for a total transaction of $170,802.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 26,470 shares of company stock valued at $179,122 in the last three months. Corporate insiders own 0.88% of the company’s stock.

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SunPower Company Profile

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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Institutional Ownership by Quarter for SunPower (NASDAQ:SPWR)

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