AQR Capital Management LLC Purchases 233,249 Shares of SunPower Corporation (NASDAQ:SPWR)

AQR Capital Management LLC boosted its position in SunPower Corporation (NASDAQ:SPWR) by 454.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 284,548 shares of the semiconductor company’s stock after buying an additional 233,249 shares during the period. AQR Capital Management LLC owned approximately 0.20% of SunPower Corporation worth $1,736,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Merriman Wealth Management LLC purchased a new position in SunPower Corporation during the first quarter worth approximately $122,000. TFS Capital LLC bought a new stake in shares of SunPower Corporation during the first quarter worth about $126,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of SunPower Corporation by 109.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,354 shares of the semiconductor company’s stock worth $130,000 after buying an additional 11,159 shares during the last quarter. North Star Investment Management Corp. boosted its stake in shares of SunPower Corporation by 70.2% in the first quarter. North Star Investment Management Corp. now owns 26,600 shares of the semiconductor company’s stock worth $162,000 after buying an additional 10,973 shares during the last quarter. Finally, BlueCrest Capital Management Ltd boosted its stake in shares of SunPower Corporation by 3.6% in the first quarter. BlueCrest Capital Management Ltd now owns 39,563 shares of the semiconductor company’s stock worth $241,000 after buying an additional 1,380 shares during the last quarter. Hedge funds and other institutional investors own 25.61% of the company’s stock.

SunPower Corporation (NASDAQ SPWR) traded up 3.79% on Friday, reaching $9.30. The company’s stock had a trading volume of 2,439,021 shares. The company’s market cap is $1.30 billion. SunPower Corporation has a 12 month low of $5.84 and a 12 month high of $11.70. The company has a 50-day moving average price of $9.87 and a 200 day moving average price of $7.90.

SunPower Corporation (NASDAQ:SPWR) last released its earnings results on Tuesday, August 1st. The semiconductor company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.24. The firm had revenue of $341.50 million during the quarter, compared to the consensus estimate of $312.58 million. SunPower Corporation had a negative return on equity of 12.56% and a negative net margin of 21.84%. The company’s revenue was down 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.22) EPS. On average, equities research analysts anticipate that SunPower Corporation will post ($0.98) EPS for the current fiscal year.

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A number of equities research analysts have issued reports on SPWR shares. Zacks Investment Research raised SunPower Corporation from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Monday. Axiom Securities reaffirmed a “buy” rating on shares of SunPower Corporation in a research report on Saturday, July 22nd. Vetr raised SunPower Corporation from a “buy” rating to a “strong-buy” rating and set a $12.52 target price for the company in a research report on Tuesday, July 18th. BidaskClub raised SunPower Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Deutsche Bank AG increased their price objective on SunPower Corporation from $6.00 to $9.00 and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $9.57.

About SunPower Corporation

SunPower Corporation is a global energy company. The Company delivers complete solar solutions to residential, commercial, and power plant customers. The Company’s segments include Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation.

Institutional Ownership by Quarter for SunPower Corporation (NASDAQ:SPWR)

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