California Public Employees Retirement System increased its stake in shares of SunPower Co. (NASDAQ:SPWR) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 859,292 shares of the semiconductor company’s stock after buying an additional 31,392 shares during the quarter. California Public Employees Retirement System owned 0.62% of SunPower worth $6,264,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of SPWR. Vanguard Group Inc. lifted its position in shares of SunPower by 13.8% during the 2nd quarter. Vanguard Group Inc. now owns 4,922,577 shares of the semiconductor company’s stock worth $45,977,000 after buying an additional 598,221 shares during the period. Northern Trust Corp lifted its position in shares of SunPower by 141.3% during the 2nd quarter. Northern Trust Corp now owns 845,237 shares of the semiconductor company’s stock worth $7,894,000 after buying an additional 494,979 shares during the period. Quentec Asset Management LLC bought a new position in shares of SunPower during the 3rd quarter worth approximately $3,208,000. Impax Asset Management LTD lifted its position in shares of SunPower by 13.6% during the 3rd quarter. Impax Asset Management LTD now owns 3,077,896 shares of the semiconductor company’s stock worth $22,438,000 after buying an additional 367,582 shares during the period. Finally, State Street Corp lifted its position in shares of SunPower by 14.0% during the 2nd quarter. State Street Corp now owns 2,421,834 shares of the semiconductor company’s stock worth $22,619,000 after buying an additional 296,862 shares during the period. Institutional investors and hedge funds own 25.39% of the company’s stock.
Several equities analysts recently commented on the company. Bank of America set a $10.00 target price on SunPower and gave the stock a “hold” rating in a research report on Thursday, December 28th. BidaskClub upgraded SunPower from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. ValuEngine downgraded SunPower from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. Zacks Investment Research downgraded SunPower from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Cowen reiterated a “buy” rating and issued a $12.00 price objective on shares of SunPower in a research report on Sunday, September 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $9.85.
SunPower Co. (SPWR) opened at $8.70 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.41 and a quick ratio of 1.02. SunPower Co. has a 52-week low of $5.84 and a 52-week high of $11.70. The stock has a market capitalization of $1,210.00, a price-to-earnings ratio of -2.16 and a beta of 3.16.
SunPower (NASDAQ:SPWR) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.60. SunPower had a negative return on equity of 20.81% and a negative net margin of 24.91%. The firm had revenue of $477.20 million during the quarter, compared to the consensus estimate of $383.76 million. During the same quarter in the previous year, the company posted $0.68 EPS. The business’s revenue for the quarter was down 34.6% compared to the same quarter last year. equities research analysts expect that SunPower Co. will post -0.77 earnings per share for the current year.
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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.
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