Tower Research Capital LLC TRC raised its holdings in shares of SunPower Co. (NASDAQ:SPWR – Free Report) by 312.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,757 shares of the semiconductor company’s stock after acquiring an additional 8,151 shares during the period. Tower Research Capital LLC TRC’s holdings in SunPower were worth $149,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE grew its holdings in shares of SunPower by 205.7% in the first quarter. US Bancorp DE now owns 4,106 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 2,763 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of SunPower by 13.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,200 shares of the semiconductor company’s stock worth $262,000 after purchasing an additional 1,479 shares during the last quarter. Cetera Advisor Networks LLC bought a new position in shares of SunPower in the first quarter worth approximately $209,000. PNC Financial Services Group Inc. grew its holdings in shares of SunPower by 66.9% in the first quarter. PNC Financial Services Group Inc. now owns 4,469 shares of the semiconductor company’s stock worth $96,000 after purchasing an additional 1,792 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of SunPower by 7.5% in the first quarter. Bank of Montreal Can now owns 29,987 shares of the semiconductor company’s stock worth $628,000 after purchasing an additional 2,090 shares during the last quarter. 47.36% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on SPWR. Citigroup cut their target price on shares of SunPower from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, August 2nd. Piper Sandler cut their price target on shares of SunPower from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, August 8th. Evercore ISI cut their price target on shares of SunPower from $22.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday, July 26th. Truist Financial cut their price target on shares of SunPower from $13.00 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, August 1st. Finally, Susquehanna cut their price target on shares of SunPower from $27.00 to $22.00 in a report on Thursday, May 4th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $14.60.
SunPower Price Performance
SPWR opened at $7.24 on Thursday. The stock has a 50-day moving average price of $9.16 and a 200-day moving average price of $11.57. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 0.98. The firm has a market cap of $1.27 billion, a PE ratio of 24.13 and a beta of 1.83. SunPower Co. has a 1 year low of $6.79 and a 1 year high of $28.42.
SunPower (NASDAQ:SPWR – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.11). The company had revenue of $463.85 million during the quarter, compared to analysts’ expectations of $462.85 million. SunPower had a negative return on equity of 2.67% and a net margin of 3.37%. Sell-side analysts predict that SunPower Co. will post -0.27 earnings per share for the current fiscal year.
SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions primarily in the United States and Canada. Its solutions include the Equinox and SunVault systems which are pre-engineered modular solutions for residential applications that combine solar module technology with integrated plug-and-play power stations, cable management systems, and mounting hardware that enable dealers and installers to complete system installations, as well as for end customers to manage their energy production.
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