DekaBank Deutsche Girozentrale Increases Position in SunPower Co. (NASDAQ:SPWR)

DekaBank Deutsche Girozentrale boosted its holdings in shares of SunPower Co. (NASDAQ:SPWR) by 8.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 61,647 shares of the semiconductor company’s stock after purchasing an additional 4,585 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in SunPower were worth $300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV boosted its stake in SunPower by 3.2% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 24,881 shares of the semiconductor company’s stock valued at $573,000 after acquiring an additional 782 shares during the last quarter. Commonwealth Equity Services LLC increased its position in SunPower by 6.3% in the third quarter. Commonwealth Equity Services LLC now owns 13,966 shares of the semiconductor company’s stock worth $321,000 after buying an additional 823 shares during the period. Toroso Investments LLC boosted its holdings in shares of SunPower by 24.7% during the third quarter. Toroso Investments LLC now owns 5,077 shares of the semiconductor company’s stock valued at $117,000 after acquiring an additional 1,007 shares during the period. Prudential Financial Inc. boosted its position in shares of SunPower by 11.4% during the second quarter. Prudential Financial Inc. now owns 10,818 shares of the semiconductor company’s stock worth $164,000 after buying an additional 1,103 shares during the period. Finally, Alliancebernstein L.P. increased its position in SunPower by 0.5% in the 4th quarter. Alliancebernstein L.P. now owns 212,391 shares of the semiconductor company’s stock valued at $3,829,000 after acquiring an additional 1,125 shares during the period. 47.36% of the stock is currently owned by hedge funds and other institutional investors.

SunPower Trading Down 2.1 %

NASDAQ:SPWR opened at $2.31 on Wednesday. The firm has a market capitalization of $405.08 million, a price-to-earnings ratio of -1.69 and a beta of 1.73. SunPower Co. has a 1-year low of $2.21 and a 1-year high of $14.92. The business’s fifty day moving average price is $3.04 and its 200 day moving average price is $3.92.

SunPower (NASDAQ:SPWR) last issued its earnings results on Thursday, February 15th. The semiconductor company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.24). The firm had revenue of $356.91 million during the quarter, compared to analysts’ expectations of $364.58 million. SunPower had a negative net margin of 14.15% and a negative return on equity of 40.95%. Equities analysts forecast that SunPower Co. will post -0.74 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SPWR shares. Mizuho reduced their price target on SunPower from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, January 30th. Evercore ISI cut their price objective on SunPower from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, February 20th. Guggenheim lowered shares of SunPower from a “neutral” rating to a “sell” rating in a research note on Friday, February 16th. Citigroup reduced their price objective on SunPower from $3.00 to $2.50 and set a “sell” rating for the company in a research note on Thursday, March 28th. Finally, Susquehanna cut their target price on SunPower from $4.50 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, April 5th. Ten equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.82.

SunPower Company Profile

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.