SunPower Co. (NASDAQ:SPWR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in SunPower Co. (NASDAQ:SPWRFree Report) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 458,970 shares of the semiconductor company’s stock after selling 29,110 shares during the quarter. Principal Financial Group Inc. owned about 0.26% of SunPower worth $2,832,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC increased its stake in SunPower by 398.4% in the third quarter. SG Americas Securities LLC now owns 262,470 shares of the semiconductor company’s stock valued at $1,619,000 after purchasing an additional 209,811 shares during the period. Psagot Value Holdings Ltd. Israel boosted its holdings in shares of SunPower by 81.2% in the second quarter. Psagot Value Holdings Ltd. Israel now owns 19,348 shares of the semiconductor company’s stock valued at $187,000 after acquiring an additional 8,668 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of SunPower by 15.4% in the second quarter. Vontobel Holding Ltd. now owns 93,756 shares of the semiconductor company’s stock valued at $919,000 after acquiring an additional 12,536 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of SunPower by 44.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 159,249 shares of the semiconductor company’s stock valued at $983,000 after acquiring an additional 48,981 shares in the last quarter. Finally, Inspire Investing LLC purchased a new stake in shares of SunPower in the third quarter valued at about $307,000. 47.36% of the stock is currently owned by institutional investors and hedge funds.

SunPower Price Performance

NASDAQ:SPWR opened at $3.23 on Friday. The firm has a 50 day simple moving average of $4.09 and a 200-day simple moving average of $5.51. The firm has a market cap of $566.41 million, a PE ratio of -5.21 and a beta of 1.76. SunPower Co. has a 1-year low of $2.74 and a 1-year high of $18.15.

Analyst Ratings Changes

Several brokerages have recently weighed in on SPWR. Roth Mkm lowered their target price on shares of SunPower from $10.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, October 25th. Mizuho lowered their target price on shares of SunPower from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, January 30th. Raymond James downgraded shares of SunPower from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th. Piper Sandler decreased their price objective on shares of SunPower from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, October 13th. Finally, StockNews.com raised shares of SunPower to a “sell” rating in a report on Saturday, December 23rd. Nine equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.45.

Check Out Our Latest Stock Report on SPWR

About SunPower

(Free Report)

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions primarily in the United States and Canada. Its solutions include the Equinox and SunVault systems which are pre-engineered modular solutions for residential applications that combine solar module technology with integrated plug-and-play power stations, cable management systems, and mounting hardware that enable dealers and installers to complete system installations, as well as for end customers to manage their energy production.

Further Reading

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Institutional Ownership by Quarter for SunPower (NASDAQ:SPWR)

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