Alliancebernstein L.P. lifted its stake in shares of SunPower Corporation (NASDAQ:SPWR) by 13.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,900 shares of the semiconductor company’s stock after acquiring an additional 5,610 shares during the quarter. Alliancebernstein L.P.’s holdings in SunPower Corporation were worth $438,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. CAPROCK Group Inc. increased its position in shares of SunPower Corporation by 1.1% during the second quarter. CAPROCK Group Inc. now owns 11,941 shares of the semiconductor company’s stock worth $112,000 after acquiring an additional 128 shares during the period. Guinness Atkinson Asset Management Inc increased its position in shares of SunPower Corporation by 8.7% during the second quarter. Guinness Atkinson Asset Management Inc now owns 71,250 shares of the semiconductor company’s stock worth $665,000 after acquiring an additional 5,700 shares during the period. Guinness Asset Management Ltd increased its position in shares of SunPower Corporation by 3.0% during the second quarter. Guinness Asset Management Ltd now owns 204,577 shares of the semiconductor company’s stock worth $1,911,000 after acquiring an additional 6,000 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of SunPower Corporation by 9.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 101,262 shares of the semiconductor company’s stock worth $618,000 after acquiring an additional 8,721 shares during the period. Finally, Candriam Luxembourg S.C.A. purchased a new stake in shares of SunPower Corporation during the second quarter worth $130,000. 28.41% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on SPWR. Deutsche Bank AG increased their target price on SunPower Corporation from $6.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. ValuEngine raised SunPower Corporation from a “sell” rating to a “hold” rating in a report on Saturday. BidaskClub lowered SunPower Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Morgan Stanley lowered SunPower Corporation from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $7.22 to $6.00 in a report on Wednesday, September 27th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $13.00 target price (up previously from $10.00) on shares of SunPower Corporation in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $9.29.
Shares of SunPower Corporation (SPWR) opened at $8.64 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 1.71.
SunPower Corporation (NASDAQ:SPWR) last announced its earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.60. SunPower Corporation had a negative net margin of 24.91% and a negative return on equity of 20.81%. The business had revenue of $477.20 million during the quarter, compared to the consensus estimate of $383.76 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was down 34.6% compared to the same quarter last year. equities research analysts anticipate that SunPower Corporation will post -1.41 earnings per share for the current year.
SunPower Corporation Company Profile
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.
What are top analysts saying about SunPower Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for SunPower Corporation and related companies.