SunPower Co. (NASDAQ:SPWR) Position Increased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of SunPower Co. (NASDAQ:SPWR) by 75.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 279,738 shares of the semiconductor company’s stock after acquiring an additional 120,489 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.16% of SunPower worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. raised its holdings in SunPower by 46.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 79,366 shares of the semiconductor company’s stock valued at $384,000 after buying an additional 25,211 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of SunPower in the fourth quarter worth about $208,000. DekaBank Deutsche Girozentrale increased its stake in shares of SunPower by 8.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 61,647 shares of the semiconductor company’s stock worth $300,000 after purchasing an additional 4,585 shares during the period. International Assets Investment Management LLC increased its stake in shares of SunPower by 383.0% in the fourth quarter. International Assets Investment Management LLC now owns 5,366 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 4,255 shares during the period. Finally, Green Alpha Advisors LLC increased its stake in shares of SunPower by 19.1% in the fourth quarter. Green Alpha Advisors LLC now owns 168,171 shares of the semiconductor company’s stock worth $812,000 after purchasing an additional 26,944 shares during the period. 47.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SPWR has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on SunPower from $4.00 to $4.25 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Evercore ISI lowered SunPower from an “outperform” rating to an “inline” rating and set a $6.00 price objective on the stock. in a research note on Tuesday. Wells Fargo & Company reissued an “underweight” rating and set a $4.00 target price (down from $6.00) on shares of SunPower in a research report on Monday, January 8th. Raymond James downgraded SunPower from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 4th. Finally, Mizuho decreased their price objective on SunPower from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Ten research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $4.76.

SunPower Price Performance

SPWR stock opened at $1.99 on Friday. The company has a 50 day moving average price of $2.77 and a 200 day moving average price of $3.75. SunPower Co. has a fifty-two week low of $1.77 and a fifty-two week high of $13.50. The stock has a market capitalization of $348.97 million, a PE ratio of -1.45 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 return on equity of 40.95% and a negative net margin of 14.15%. The company had revenue of $356.91 million during the quarter, compared to the consensus estimate of $364.58 million. As a group, equities analysts expect that SunPower Co. will post -0.74 earnings per share for the current fiscal year.

SunPower 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.