Texas Permanent School Fund increased its position in shares of SunPower Co. (NASDAQ:SPWR – Get Rating) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,319 shares of the semiconductor company’s stock after purchasing an additional 1,452 shares during the period. Texas Permanent School Fund’s holdings in SunPower were worth $954,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Huntington National Bank acquired a new stake in SunPower during the 1st quarter worth approximately $32,000. Banque Cantonale Vaudoise increased its stake in SunPower by 140.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 2,567 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 1,500 shares during the period. US Bancorp DE increased its stake in SunPower by 205.7% during the 1st quarter. US Bancorp DE now owns 4,106 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 2,763 shares during the period. PNC Financial Services Group Inc. increased its stake in SunPower by 66.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,469 shares of the semiconductor company’s stock worth $96,000 after acquiring an additional 1,792 shares during the period. Finally, MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income bought a new position in SunPower during the 1st quarter worth $203,000. 36.61% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the company. Guggenheim assumed coverage on SunPower in a research note on Thursday, November 10th. They set a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on SunPower in a research note on Monday, November 14th. They set a “hold” rating and a $16.00 price objective on the stock. Susquehanna lifted their price target on SunPower from $25.00 to $27.00 in a research note on Wednesday, November 9th. Bank of America lowered SunPower from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $22.00 to $18.00 in a research note on Tuesday, October 11th. Finally, Morgan Stanley decreased their price target on SunPower from $31.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, October 21st. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $21.79.
SunPower Stock Down 2.7 %
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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