Swiss National Bank Acquires 4,100 Shares of SunPower Co. (NASDAQ:SPWR)

Swiss National Bank increased its stake in shares of SunPower Co. (NASDAQ:SPWR – Get Rating) by 2.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 210,200 shares of the semiconductor company’s stock after acquiring an additional 4,100 shares during the period. Swiss National Bank’s holdings in SunPower were worth $3,790,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. MetLife Investment Management LLC increased its holdings in shares of SunPower by 0.5% in the third quarter. MetLife Investment Management LLC now owns 95,835 shares of the semiconductor company’s stock valued at $2,208,000 after purchasing an additional 516 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in SunPower by 5.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 12,304 shares of the semiconductor company’s stock valued at $222,000 after buying an additional 586 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of SunPower by 2.5% during the third quarter. Oregon Public Employees Retirement Fund now owns 24,873 shares of the semiconductor company’s stock worth $573,000 after buying an additional 618 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in SunPower by 3.2% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 24,881 shares of the semiconductor company’s stock worth $573,000 after acquiring an additional 782 shares during the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of SunPower by 0.7% in the fourth quarter. Retirement Systems of Alabama now owns 112,492 shares of the semiconductor company’s stock valued at $2,028,000 after buying an additional 811 shares during the period. 36.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other SunPower news, CEO Peter Faricy bought 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The stock was bought at an average cost of $13.29 per share, for a total transaction of $99,675.00. Following the completion of the transaction, the chief executive officer now directly owns 177,458 shares of the company’s stock, valued at approximately $2,358,416.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is owned by insiders.

SunPower Price Performance

SPWR opened at $9.57 on Monday. SunPower Co. has a 1 year low of $9.37 and a 1 year high of $28.42. The firm has a market capitalization of $1.67 billion, a PE ratio of 73.62, a price-to-earnings-growth ratio of 2.34 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.44 and a quick ratio of 0.88. The business’s 50-day moving average is $12.73 and its two-hundred day moving average is $16.66.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SPWR shares. Wells Fargo & Company dropped their price target on shares of SunPower from $21.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Friday, February 3rd. Barclays decreased their target price on shares of SunPower from $18.00 to $15.00 in a research report on Tuesday, April 18th. Piper Sandler dropped their price objective on SunPower from $15.00 to $12.00 in a research note on Tuesday, May 9th. Credit Suisse Group restated a “neutral” rating and issued a $15.00 target price on shares of SunPower in a research note on Thursday, February 16th. Finally, Citigroup reduced their price target on shares of SunPower from $16.50 to $14.00 in a research report on Friday, April 21st. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.82.

SunPower Profile

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SunPower Corp. engages in the design, manufacture, and delivery of solar panels and systems. The company provides fully integrated solar, storage, and home energy solutions. The company was founded by Thomas L. Dinwoodie, Robert Lorenzini and Richard M. Swanson in April 1985 and is headquartered in Richmond, CA.