Baird Financial Group Inc. Acquires New Position in SunPower Co. (NASDAQ:SPWR)

Baird Financial Group Inc. acquired a new stake in shares of SunPower Co. (NASDAQ:SPWRGet Rating) during the 2nd quarter, Holdings Channel reports. The fund acquired 56,949 shares of the semiconductor company’s stock, valued at approximately $900,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Huntington National Bank purchased a new position in SunPower during the first quarter worth approximately $32,000. Banque Cantonale Vaudoise raised its stake in SunPower by 19.5% during the second quarter. Banque Cantonale Vaudoise now owns 3,067 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 500 shares during the period. US Bancorp DE raised its stake in SunPower by 205.7% during the first quarter. US Bancorp DE now owns 4,106 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 2,763 shares during the period. PNC Financial Services Group Inc. raised its stake in SunPower by 66.9% during the first quarter. PNC Financial Services Group Inc. now owns 4,469 shares of the semiconductor company’s stock worth $96,000 after purchasing an additional 1,792 shares during the period. Finally, Strs Ohio purchased a new position in SunPower during the second quarter worth approximately $169,000. Hedge funds and other institutional investors own 36.61% of the company’s stock.

Analyst Upgrades and Downgrades

SPWR has been the topic of a number of recent analyst reports. Cowen increased their price target on shares of SunPower to $17.00 in a research note on Tuesday, November 15th. The Goldman Sachs Group increased their price target on shares of SunPower from $14.00 to $18.00 and gave the stock a “sell” rating in a research note on Thursday, September 8th. Barclays initiated coverage on shares of SunPower in a research note on Friday, August 5th. They issued an “equal weight” rating and a $26.00 target price on the stock. Morgan Stanley cut their target price on shares of SunPower from $31.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, October 21st. Finally, Guggenheim initiated coverage on shares of SunPower in a research note on Thursday, November 10th. They issued a “neutral” rating on the stock. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.79.

SunPower Price Performance

Shares of SPWR stock opened at $23.21 on Friday. The firm has a market cap of $4.04 billion, a P/E ratio of 70.34 and a beta of 1.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.31 and a quick ratio of 1.06. SunPower Co. has a 1-year low of $12.78 and a 1-year high of $32.20. The firm has a fifty day moving average of $21.33 and a two-hundred day moving average of $20.10.

About SunPower

(Get Rating)

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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