Axa S.A. Acquires New Shares in SunPower Co. (NASDAQ:SPWR)

Posted by Defense World Staff on Feb 27th, 2023

Axa S.A. acquired a new stake in SunPower Co. (NASDAQ:SPWR – Get Rating) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 105,000 shares of the semiconductor company’s stock, valued at approximately $2,419,000. Axa S.A. owned approximately 0.06% of SunPower as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. MetLife Investment Management LLC boosted its stake in shares of SunPower by 0.5% during 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 in the last quarter. Victory Capital Management Inc. boosted its stake in shares of SunPower by 2.9% during the second quarter. Victory Capital Management Inc. now owns 18,898 shares of the semiconductor company’s stock valued at $299,000 after purchasing an additional 540 shares in the last quarter. Oregon Public Employees Retirement Fund boosted 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 valued at $573,000 after purchasing an additional 618 shares in the last quarter. Xponance Inc. boosted its stake in shares of SunPower by 5.3% during the second quarter. Xponance Inc. now owns 12,841 shares of the semiconductor company’s stock valued at $203,000 after purchasing an additional 646 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of SunPower by 0.6% during the third quarter. The Manufacturers Life Insurance Company now owns 145,630 shares of the semiconductor company’s stock valued at $3,355,000 after purchasing an additional 854 shares in the last quarter. 36.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SPWR shares. Roth Mkm cut their price target on SunPower from $23.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, February 10th. Susquehanna lifted their price objective on SunPower from $25.00 to $27.00 in a research note on Wednesday, November 9th. Susquehanna Bancshares lifted their price objective on SunPower from $25.00 to $27.00 in a research note on Wednesday, November 9th. Morgan Stanley cut their price objective on SunPower from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 10th. Finally, Truist Financial lowered their target price on SunPower from $24.00 to $18.00 and set a “hold” rating for the company in a report on Wednesday, February 15th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, SunPower presently has a consensus rating of “Hold” and an average target price of $20.00.

SunPower Stock Down 3.7 %

Shares of NASDAQ:SPWR opened at $14.45 on Monday. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 55.58, a PEG ratio of 1.24 and a beta of 1.87. SunPower Co. has a 12-month low of $12.78 and a 12-month high of $28.42. The business’s 50 day moving average is $17.26 and its 200 day moving average is $20.76.

SunPower Profile

(Get Rating)

SunPower Corp. engages in the design, manufacture, and delivery of solar panels and systems. It operates through the Dev Co and Power Co segments. The Dev Co segment refers to the solar origination and installation revenue stream as sale of solar power systems. The Power Co segment deals with the post system sale and recurring services revenue.

Axa S.A. Acquires New Shares in SunPower Co. (NASDAQ:SPWR)

Wall Street Analysts Forecast Growth

SunPower Stock Down 3.7 %

SunPower Profile

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