SunPower Co. (NASDAQ:SPWR) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of SunPower Co. (NASDAQ:SPWR) by 6.3% during the fourth quarter, Holdings Channel reports. The firm owned 175,257 shares of the semiconductor company’s stock after selling 11,753 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in SunPower were worth $846,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Schroder Investment Management Group raised its holdings in shares of SunPower by 18.8% during the third quarter. Schroder Investment Management Group now owns 8,082,152 shares of the semiconductor company’s stock worth $49,867,000 after purchasing an additional 1,279,226 shares during the period. Vanguard Group Inc. grew its position in shares of SunPower by 1.6% during the third quarter. Vanguard Group Inc. now owns 9,443,481 shares of the semiconductor company’s stock worth $58,266,000 after acquiring an additional 145,367 shares during the last quarter. SG Americas Securities LLC grew its position in shares of SunPower by 398.4% during the third quarter. SG Americas Securities LLC now owns 262,470 shares of the semiconductor company’s stock worth $1,619,000 after acquiring an additional 209,811 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of SunPower by 8.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 61,647 shares of the semiconductor company’s stock worth $300,000 after acquiring an additional 4,585 shares during the last quarter. Finally, Barclays PLC grew its position in shares of SunPower by 9.8% during the third quarter. Barclays PLC now owns 52,243 shares of the semiconductor company’s stock worth $322,000 after acquiring an additional 4,671 shares during the last quarter. 47.36% of the stock is owned by institutional investors and hedge funds.

SunPower Trading Down 1.0 %

NASDAQ:SPWR opened at $1.94 on Thursday. SunPower Co. has a twelve month low of $1.77 and a twelve month high of $14.49. The company has a 50-day moving average of $2.90 and a 200-day moving average of $3.80. The firm has a market cap of $340.20 million, a price-to-earnings ratio of -1.42 and a beta of 1.73.

SunPower (NASDAQ:SPWR) last posted its quarterly earnings data on Thursday, February 15th. The semiconductor company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.24). SunPower had a negative net margin of 14.15% and a negative return on equity of 40.95%. The business had revenue of $356.91 million for the quarter, compared to the consensus estimate of $364.58 million. On average, research analysts forecast that SunPower Co. will post -0.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SPWR shares. The Goldman Sachs Group lowered their price target on shares of SunPower from $4.00 to $2.50 and set a “sell” rating for the company in a research report on Monday, January 22nd. Raymond James lowered shares of SunPower from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 4th. UBS Group upped their price target on shares of SunPower from $4.00 to $4.25 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Mizuho decreased their target price on shares of SunPower from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Finally, Evercore ISI lowered shares of SunPower from an “outperform” rating to an “inline” rating and set a $6.00 target price for the company. in a research report on Tuesday. Ten equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $4.76.

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.