abrdn plc Has $89,000 Stock Position in SunPower Co. (NASDAQ:SPWR)

abrdn plc raised its stake in shares of SunPower Co. (NASDAQ:SPWR) by 83.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,503 shares of the semiconductor company’s stock after purchasing an additional 8,432 shares during the quarter. abrdn plc’s holdings in SunPower were worth $89,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Schroder Investment Management Group boosted its holdings 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 holdings 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. Federated Hermes Inc. boosted its holdings in shares of SunPower by 193.0% in the 4th quarter. Federated Hermes Inc. now owns 1,708,133 shares of the semiconductor company’s stock worth $8,250,000 after acquiring an additional 1,125,231 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of SunPower by 8.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 61,647 shares of the semiconductor company’s stock worth $300,000 after acquiring an additional 4,585 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of SunPower by 9.8% in the 3rd quarter. Barclays PLC now owns 52,243 shares of the semiconductor company’s stock worth $322,000 after acquiring an additional 4,671 shares in the last quarter. 47.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group reduced their target price on SunPower from $4.00 to $2.50 and set a “sell” rating on the stock in a report on Monday, January 22nd. Guggenheim downgraded SunPower from a “neutral” rating to a “sell” rating in a report on Friday, February 16th. Susquehanna reduced their target price on SunPower from $4.50 to $3.00 and set a “neutral” rating on the stock in a report on Friday, April 5th. UBS Group boosted their target price on SunPower from $4.00 to $4.25 and gave the stock a “neutral” rating in a report on Friday, February 16th. Finally, Mizuho reduced their target price on SunPower from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Ten investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to MarketBeat.com, SunPower has an average rating of “Hold” and a consensus price target of $4.72.

SunPower Stock Up 1.0 %

Shares of SPWR stock opened at $2.08 on Thursday. SunPower Co. has a 12-month low of $1.76 and a 12-month high of $12.79. The firm has a market capitalization of $364.75 million, a price-to-earnings ratio of -1.52 and a beta of 1.73. The firm has a fifty day moving average of $2.71 and a 200-day moving average of $3.68.

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 the consensus estimate 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 firm had revenue of $356.91 million during the quarter, compared to analyst estimates of $364.58 million. Research analysts expect that SunPower Co. will post -0.74 earnings per share for the current year.

About SunPower

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.