21,485 Shares in SunPower Co. (NASDAQ:SPWR) Bought by QRG Capital Management Inc.

QRG Capital Management Inc. acquired a new stake in SunPower Co. (NASDAQ:SPWR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,485 shares of the semiconductor company’s stock, valued at approximately $104,000.

Several other hedge funds also recently made changes to their positions in SPWR. Raymond James & Associates boosted its position in shares of SunPower by 157.4% in the 3rd quarter. Raymond James & Associates now owns 44,377 shares of the semiconductor company’s stock valued at $274,000 after purchasing an additional 27,136 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in shares of SunPower by 16.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 45,252 shares of the semiconductor company’s stock worth $279,000 after acquiring an additional 6,383 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in SunPower by 39.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,106 shares of the semiconductor company’s stock valued at $75,000 after purchasing an additional 3,400 shares during the last quarter. Victory Capital Management Inc. raised its position in SunPower by 54.0% in the 3rd quarter. Victory Capital Management Inc. now owns 37,999 shares of the semiconductor company’s stock valued at $234,000 after purchasing an additional 13,330 shares during the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new position in SunPower during the 3rd quarter worth $329,000. Hedge funds and other institutional investors own 47.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Guggenheim downgraded shares of SunPower from a “neutral” rating to a “sell” rating in a research note on Friday, February 16th. Scotiabank lowered their target price on SunPower from $6.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Monday, April 29th. Susquehanna dropped 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 increased their price target on SunPower from $4.00 to $4.25 and gave the stock a “neutral” rating in a report on Friday, February 16th. Finally, Evercore ISI downgraded shares of SunPower from an “outperform” rating to an “inline” rating and set a $6.00 price objective for the company. in a research report on Tuesday, April 23rd. Eleven analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. Based on data from MarketBeat, SunPower presently has an average rating of “Reduce” and an average price target of $4.59.

SunPower Stock Performance

NASDAQ:SPWR opened at $2.74 on Wednesday. SunPower Co. has a 12-month low of $1.76 and a 12-month high of $12.18. The company’s 50-day moving average is $2.58 and its two-hundred day moving average is $3.45.

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.