Raymond James Financial Services Advisors Inc. Sells 29,368 Shares of SunPower Co. (NASDAQ:SPWR)

Raymond James Financial Services Advisors Inc. lowered its stake in shares of SunPower Co. (NASDAQ:SPWR) by 64.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,884 shares of the semiconductor company’s stock after selling 29,368 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in SunPower were worth $77,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Schroder Investment Management Group boosted its position in SunPower by 18.8% during the third quarter. Schroder Investment Management Group now owns 8,082,152 shares of the semiconductor company’s stock valued at $49,867,000 after purchasing an additional 1,279,226 shares in the last quarter. Vanguard Group Inc. boosted its position in SunPower by 1.6% during the third quarter. Vanguard Group Inc. now owns 9,443,481 shares of the semiconductor company’s stock valued at $58,266,000 after purchasing an additional 145,367 shares in the last quarter. SG Americas Securities LLC boosted its position in SunPower by 398.4% during 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 in the last quarter. Barclays PLC boosted its position in SunPower by 9.8% during the third quarter. Barclays PLC now owns 52,243 shares of the semiconductor company’s stock valued at $322,000 after purchasing an additional 4,671 shares in the last quarter. Finally, Invesco Ltd. boosted its position in SunPower by 12.7% during the third quarter. Invesco Ltd. now owns 4,726,404 shares of the semiconductor company’s stock valued at $29,162,000 after purchasing an additional 531,800 shares in the last quarter. Institutional investors own 47.36% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company reaffirmed an “underweight” rating and set a $4.00 price objective (down previously from $6.00) on shares of SunPower in a research report on Monday, January 8th. Citigroup dropped their price target on SunPower from $3.00 to $2.50 and set a “sell” rating on the stock in a research note on Thursday, March 28th. The Goldman Sachs Group dropped their price target on SunPower from $4.00 to $2.50 and set a “sell” rating on the stock in a research note on Monday, January 22nd. Guggenheim lowered SunPower from a “neutral” rating to a “sell” rating in a research note on Friday, February 16th. Finally, Susquehanna dropped their price target on SunPower from $4.50 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, April 5th. Ten investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $4.76.

SunPower Trading Down 3.1 %

Shares of NASDAQ:SPWR opened at $1.88 on Friday. SunPower Co. has a 12-month low of $1.77 and a 12-month high of $13.50. The company has a market capitalization of $329.68 million, a PE ratio of -1.37 and a beta of 1.73. The business has a 50 day moving average of $2.85 and a two-hundred day moving average of $3.79.

SunPower (NASDAQ:SPWR) last announced its quarterly earnings results on Thursday, February 15th. The semiconductor company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.24). SunPower had a negative net margin of 14.15% and a negative return on equity of 40.95%. The company had revenue of $356.91 million during the quarter, compared to analyst estimates of $364.58 million. Equities research analysts predict that SunPower Co. will post -0.74 earnings per share for the current fiscal year.

SunPower Profile

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.