Virtu Financial LLC bought a new stake in SunPower Co. (NASDAQ:SPWR – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 27,839 shares of the semiconductor company’s stock, valued at approximately $385,000.
A number of other large investors also recently modified their holdings of SPWR. US Bancorp DE lifted its holdings in shares of SunPower by 205.7% in the first quarter. US Bancorp DE now owns 4,106 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 2,763 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of SunPower by 13.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,200 shares of the semiconductor company’s stock valued at $262,000 after acquiring an additional 1,479 shares during the last quarter. Cetera Advisor Networks LLC purchased a new stake in shares of SunPower during the first quarter valued at approximately $209,000. PNC Financial Services Group Inc. increased its position in shares of SunPower by 66.9% during the first quarter. PNC Financial Services Group Inc. now owns 4,469 shares of the semiconductor company’s stock valued at $96,000 after acquiring an additional 1,792 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of SunPower by 7.5% during the first quarter. Bank of Montreal Can now owns 29,987 shares of the semiconductor company’s stock valued at $628,000 after acquiring an additional 2,090 shares during the last quarter. Institutional investors own 39.15% of the company’s stock.
SunPower Price Performance
NASDAQ:SPWR opened at $11.25 on Monday. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 86.55, a P/E/G ratio of 3.85 and a beta of 1.82. SunPower Co. has a 52-week low of $8.99 and a 52-week high of $28.42. The stock has a fifty day moving average of $10.50 and a 200 day moving average of $13.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.88 and a current ratio of 1.44.
Wall Street Analyst Weigh In
SPWR has been the subject of a number of research analyst reports. Citigroup decreased their price target on SunPower from $16.50 to $14.00 in a research report on Friday, April 21st. Truist Financial decreased their price target on SunPower from $14.00 to $13.00 and set a “hold” rating for the company in a research report on Friday, July 14th. Susquehanna decreased their target price on SunPower from $27.00 to $22.00 in a research report on Thursday, May 4th. StockNews.com began coverage on SunPower in a research report on Thursday, May 18th. They issued a “sell” rating for the company. Finally, Piper Sandler decreased their target price on SunPower from $12.00 to $9.00 in a research report on Tuesday, July 18th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.14.
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.
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