Principal Financial Group Inc. Has $2.16 Million Stake in SunPower Co. (NASDAQ:SPWR)

Principal Financial Group Inc. decreased its holdings in shares of SunPower Co. (NASDAQ:SPWRFree Report) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 446,753 shares of the semiconductor company’s stock after selling 12,217 shares during the quarter. Principal Financial Group Inc. owned 0.25% of SunPower worth $2,158,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. QRG Capital Management Inc. acquired a new position in SunPower during the fourth quarter worth about $104,000. Counterpoint Mutual Funds LLC acquired a new position in shares of SunPower in the fourth quarter valued at approximately $213,000. Victory Capital Management Inc. increased its stake in shares of SunPower by 18.3% in the fourth quarter. Victory Capital Management Inc. now owns 44,956 shares of the semiconductor company’s stock valued at $217,000 after buying an additional 6,957 shares during the period. Handelsbanken Fonder AB increased its stake in shares of SunPower by 32.3% in the fourth quarter. Handelsbanken Fonder AB now owns 26,200 shares of the semiconductor company’s stock valued at $127,000 after buying an additional 6,400 shares during the period. Finally, abrdn plc increased its stake in shares of SunPower by 83.7% in the fourth quarter. abrdn plc now owns 18,503 shares of the semiconductor company’s stock valued at $89,000 after buying an additional 8,432 shares during the period. Institutional investors and hedge funds own 47.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SPWR shares. Susquehanna lowered their price objective on SunPower from $4.50 to $3.00 and set a “neutral” rating for the company in a research note on Friday, April 5th. Citigroup lowered 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. Evercore ISI downgraded 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, April 23rd. UBS Group increased their target price on shares of SunPower from $4.00 to $4.25 and gave the company a “neutral” rating in a research report on Friday, February 16th. Finally, Scotiabank decreased their target price on shares of SunPower from $6.00 to $4.00 and set a “sector perform” rating for the company in a research report on Monday, April 29th. Eleven investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to MarketBeat.com, SunPower has an average rating of “Reduce” and a consensus price target of $4.59.

View Our Latest Report on SunPower

SunPower Price Performance

NASDAQ SPWR opened at $3.34 on Friday. The business has a fifty day simple moving average of $2.62 and a 200 day simple moving average of $3.40. SunPower Co. has a 12 month low of $1.76 and a 12 month high of $12.18.

SunPower Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for SunPower (NASDAQ:SPWR)

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