Banque Cantonale Vaudoise grew its position in SunPower Co. (NASDAQ:SPWR – Free Report) by 14.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,222 shares of the semiconductor company’s stock after acquiring an additional 2,526 shares during the quarter. Banque Cantonale Vaudoise’s holdings in SunPower were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also added to or reduced their stakes in the company. Millennium Management LLC increased its position in shares of SunPower by 425.8% during the 4th quarter. Millennium Management LLC now owns 4,704,981 shares of the semiconductor company’s stock valued at $84,831,000 after purchasing an additional 3,810,149 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of SunPower during the 1st quarter valued at approximately $15,318,000. Norges Bank bought a new position in shares of SunPower during the 4th quarter valued at approximately $9,523,000. Goldman Sachs Group Inc. increased its position in shares of SunPower by 203.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 762,502 shares of the semiconductor company’s stock valued at $16,379,000 after purchasing an additional 511,085 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC bought a new position in SunPower in the 4th quarter valued at $7,180,000. Institutional investors own 39.15% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the company. Citigroup cut their price objective on SunPower from $16.50 to $14.00 in a research report on Friday, April 21st. StockNews.com assumed coverage on SunPower in a research report on Thursday, May 18th. They issued a “sell” rating on the stock. Susquehanna cut their price objective on SunPower from $27.00 to $22.00 in a research report on Thursday, May 4th. Piper Sandler cut their price objective on SunPower from $15.00 to $12.00 in a research report on Tuesday, May 9th. Finally, Raymond James cut their price objective on SunPower from $25.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 5th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, SunPower currently has a consensus rating of “Hold” and a consensus target price of $17.82.
SunPower Trading Down 1.8 %
SunPower (NASDAQ:SPWR – Free Report) last announced its earnings results on Wednesday, May 3rd. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.08). SunPower had a net margin of 1.81% and a return on equity of 3.12%. The business had revenue of $440.88 million for the quarter, compared to analyst estimates of $427.00 million. On average, research analysts predict that SunPower Co. will post 0.14 earnings per share for the current fiscal year.
SunPower Company 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.
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