Insider Selling: SunPower Co. (NASDAQ:SPWR) EVP Sells $861,875.42 in Stock

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SunPower Co. (NASDAQ:SPWR) EVP Douglas J. Richards sold 60,953 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $14.14, for a total transaction of $861,875.42. Following the completion of the transaction, the executive vice president now owns 30,476 shares in the company, valued at $430,930.64. The transaction was disclosed in a filing with the SEC, which is available at this link.

Shares of SPWR stock opened at $14.75 on Thursday. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -16.76 and a beta of 2.33. SunPower Co. has a 1-year low of $4.55 and a 1-year high of $16.04. The business’s 50-day moving average is $11.50.

SunPower (NASDAQ:SPWR) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.12). The company had revenue of $481.90 million for the quarter, compared to analysts’ expectations of $444.23 million. SunPower had a negative return on equity of 83.67% and a negative net margin of 12.95%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.01) earnings per share. On average, equities analysts expect that SunPower Co. will post -0.66 earnings per share for the current year.

A number of research analysts have issued reports on the stock. Morgan Stanley set a $6.00 target price on shares of SunPower and gave the company a “sell” rating in a report on Wednesday, May 8th. Zacks Investment Research upgraded shares of SunPower from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday. JPMorgan Chase & Co. assumed coverage on shares of SunPower in a report on Thursday, April 11th. They issued a “neutral” rating and a $7.50 target price on the stock. Credit Suisse Group upgraded shares of SunPower from a “neutral” rating to an “outperform” rating in a report on Thursday, August 1st. Finally, BidaskClub upgraded shares of SunPower from a “hold” rating to a “buy” rating in a report on Saturday, August 3rd. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. SunPower presently has an average rating of “Hold” and an average target price of $8.48.

Hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC lifted its holdings in shares of SunPower by 55,714.3% during the 1st quarter. Quantamental Technologies LLC now owns 3,907 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 3,900 shares during the period. Exane Derivatives lifted its holdings in shares of SunPower by 36.3% during the 1st quarter. Exane Derivatives now owns 6,107 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 1,625 shares during the period. Trust Co. of Vermont increased its position in SunPower by 14.0% during the 1st quarter. Trust Co. of Vermont now owns 11,365 shares of the semiconductor company’s stock worth $74,000 after purchasing an additional 1,400 shares in the last quarter. Legal & General Group Plc increased its position in SunPower by 11.7% during the 4th quarter. Legal & General Group Plc now owns 21,138 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 2,214 shares in the last quarter. Finally, National Asset Management Inc. acquired a new stake in SunPower during the 2nd quarter worth approximately $109,000. Institutional investors and hedge funds own 27.75% of the company’s stock.

About SunPower

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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Insider Buying and Selling by Quarter for SunPower (NASDAQ:SPWR)

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