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

AQR Capital Management LLC increased its position in shares of SunPower Corporation (NASDAQ:SPWR) by 454.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 about 0.20% of SunPower Corporation worth $1,736,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SPWR. Teachers Advisors LLC increased its stake in SunPower Corporation by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 97,906 shares of the semiconductor company’s stock valued at $647,000 after buying an additional 696 shares in the last quarter. BlueCrest Capital Management Ltd increased its stake in SunPower Corporation by 3.6% in the first quarter. BlueCrest Capital Management Ltd now owns 39,563 shares of the semiconductor company’s stock valued at $241,000 after buying an additional 1,380 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in SunPower Corporation by 4.0% in the first quarter. Asset Management One Co. Ltd. now owns 48,281 shares of the semiconductor company’s stock valued at $295,000 after buying an additional 1,848 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in SunPower Corporation by 3.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 66,822 shares of the semiconductor company’s stock valued at $442,000 after buying an additional 2,130 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in SunPower Corporation by 5.3% in the first quarter. Van ECK Associates Corp now owns 111,573 shares of the semiconductor company’s stock valued at $681,000 after buying an additional 5,619 shares during the last quarter. 25.55% of the stock is owned by institutional investors.

SunPower Corporation (NASDAQ SPWR) opened at 9.24 on Friday. SunPower Corporation has a 52-week low of $5.84 and a 52-week high of $11.70. The company’s market capitalization is $1.29 billion. The firm’s 50-day moving average is $9.89 and its 200-day moving average is $8.00.

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

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Several research firms recently commented on SPWR. Deutsche Bank AG upped their target price on shares of SunPower Corporation from $6.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded shares of 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, August 7th. BidaskClub lowered shares of SunPower Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $13.00 price objective (up previously from $10.00) on shares of SunPower Corporation in a report on Wednesday, August 2nd. Finally, Vetr lowered shares of SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $12.52 target price on the stock. in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $9.25.

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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