Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Has $851,000 Stock Holdings in SunPower Co. (NASDAQ:SPWR)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its position in SunPower Co. (NASDAQ:SPWRGet Rating) by 17.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 36,939 shares of the semiconductor company’s stock after selling 7,742 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in SunPower were worth $851,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SPWR. Focused Wealth Management Inc increased its position in shares of SunPower by 721.3% during the third quarter. Focused Wealth Management Inc now owns 2,505 shares of the semiconductor company’s stock worth $58,000 after acquiring an additional 2,200 shares in the last quarter. National Bank of Canada FI grew its position in SunPower by 72.4% in the third quarter. National Bank of Canada FI now owns 2,620 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 1,100 shares in the last quarter. Banque Cantonale Vaudoise grew its position in SunPower by 19.5% in the second quarter. Banque Cantonale Vaudoise now owns 3,067 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 500 shares in the last quarter. US Bancorp DE grew its position in SunPower by 205.7% in the first quarter. US Bancorp DE now owns 4,106 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 2,763 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in SunPower by 66.9% in the first quarter. PNC Financial Services Group Inc. now owns 4,469 shares of the semiconductor company’s stock valued at $96,000 after purchasing an additional 1,792 shares in the last quarter. 36.07% of the stock is currently owned by institutional investors and hedge funds.

SunPower Price Performance

Shares of SunPower stock opened at $16.33 on Friday. SunPower Co. has a twelve month low of $12.78 and a twelve month high of $28.42. The company has a quick ratio of 1.06, a current ratio of 1.31 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $20.65 and a two-hundred day simple moving average of $21.19. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 49.49, a price-to-earnings-growth ratio of 1.39 and a beta of 1.87.

SunPower (NASDAQ:SPWRGet Rating) last issued its quarterly earnings data on Tuesday, November 8th. The semiconductor company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.05. SunPower had a net margin of 4.21% and a negative return on equity of 0.82%. The business had revenue of $469.82 million during the quarter, compared to analysts’ expectations of $429.44 million. Analysts forecast that SunPower Co. will post 0.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SPWR shares. Wells Fargo & Company raised shares of SunPower from an “underweight” rating to an “equal weight” rating and set a $21.00 target price for the company in a research report on Friday, January 6th. Credit Suisse Group raised shares of SunPower from an “underperform” rating to a “neutral” rating and decreased their target price for the company from $21.00 to $17.00 in a research report on Thursday, November 10th. Susquehanna Bancshares raised their target price on shares of SunPower from $25.00 to $27.00 in a research report on Wednesday, November 9th. Cowen lifted their price objective on shares of SunPower to $17.00 in a research report on Tuesday, November 15th. Finally, Evercore ISI lifted their price objective on shares of SunPower to $32.00 in a research report on Tuesday, November 15th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.00.

SunPower Company 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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