SunPower Co. (NASDAQ:SPWR) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC raised its stake in SunPower Co. (NASDAQ:SPWRGet Rating) by 12.9% in the first quarter, HoldingsChannel reports. The fund owned 99,947 shares of the semiconductor company’s stock after purchasing an additional 11,424 shares during the period. Verition Fund Management LLC’s holdings in SunPower were worth $2,147,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of SPWR. Exchange Traded Concepts LLC raised its stake in shares of SunPower by 20.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 4,642 shares of the semiconductor company’s stock worth $100,000 after buying an additional 796 shares during the period. NorthCrest Asset Manangement LLC raised its stake in shares of SunPower by 4.3% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 21,900 shares of the semiconductor company’s stock worth $470,000 after buying an additional 900 shares during the period. ETF Managers Group LLC raised its stake in shares of SunPower by 5.0% during the 4th quarter. ETF Managers Group LLC now owns 20,428 shares of the semiconductor company’s stock worth $429,000 after buying an additional 972 shares during the period. Teacher Retirement System of Texas raised its stake in shares of SunPower by 6.6% during the 1st quarter. Teacher Retirement System of Texas now owns 17,877 shares of the semiconductor company’s stock worth $384,000 after buying an additional 1,101 shares during the period. Finally, Guinness Atkinson Asset Management Inc raised its stake in shares of SunPower by 26.4% during the 1st quarter. Guinness Atkinson Asset Management Inc now owns 5,435 shares of the semiconductor company’s stock worth $117,000 after buying an additional 1,135 shares during the period. 36.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SPWR. JPMorgan Chase & Co. upped their target price on SunPower from $20.00 to $25.00 and gave the stock an “underweight” rating in a research note on Monday, August 8th. UBS Group increased their price objective on SunPower from $17.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 3rd. Morgan Stanley increased their price objective on SunPower from $22.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, August 18th. The Goldman Sachs Group increased their price objective on SunPower from $14.00 to $18.00 and gave the company a “sell” rating in a research note on Thursday, September 8th. Finally, Raymond James increased their price objective on SunPower from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, August 3rd. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, SunPower has a consensus rating of “Hold” and an average target price of $22.50.

Insider Activity at SunPower

In related news, insider Vichheka Heang sold 14,000 shares of SunPower stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $24.95, for a total value of $349,300.00. Following the sale, the insider now directly owns 5,046 shares in the company, valued at $125,897.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Manavendra Sial sold 25,000 shares of SunPower stock in a transaction on Monday, August 15th. The stock was sold at an average price of $26.63, for a total transaction of $665,750.00. Following the completion of the transaction, the chief financial officer now directly owns 50,810 shares of the company’s stock, valued at $1,353,070.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Vichheka Heang sold 14,000 shares of SunPower stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $24.95, for a total value of $349,300.00. Following the transaction, the insider now directly owns 5,046 shares of the company’s stock, valued at $125,897.70. The disclosure for this sale can be found here. Insiders have sold a total of 62,912 shares of company stock worth $1,634,371 over the last three months. 0.67% of the stock is currently owned by corporate insiders.

SunPower Trading Up 0.5 %

Shares of SPWR stock opened at $26.65 on Friday. The business’s 50 day moving average is $22.62 and its two-hundred day moving average is $19.91. SunPower Co. has a twelve month low of $12.78 and a twelve month high of $34.61. The company has a market capitalization of $4.64 billion, a P/E ratio of -29.61 and a beta of 1.97. The company has a current ratio of 1.19, a quick ratio of 0.94 and a debt-to-equity ratio of 0.13.

SunPower (NASDAQ:SPWRGet Rating) last announced its earnings results on Tuesday, August 2nd. The semiconductor company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). SunPower had a negative net margin of 10.51% and a negative return on equity of 4.15%. The company had revenue of $417.80 million during the quarter, compared to analysts’ expectations of $364.47 million. During the same quarter last year, the business posted $0.01 earnings per share. The company’s revenue for the quarter was up 60.2% compared to the same quarter last year. Equities analysts forecast that SunPower Co. will post 0.12 EPS for the current year.

SunPower Profile

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SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions to customers primarily in the United States and Canada. It operates through Residential, Light Commercial; Commercial and Industrial Solutions; and Others segments. The company provides solar, storage, and home energy solutions and components through a combination of its third-party installing and non-installing dealer network and resellers, as well as in-house sales team; and turn-key engineering, procurement, and construction services and sale of energy under power purchase agreements.

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Institutional Ownership by Quarter for SunPower (NASDAQ:SPWR)

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