SunPower Co. (NASDAQ:SPWR) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its stake in shares of SunPower Co. (NASDAQ:SPWR) by 25.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,264 shares of the semiconductor company’s stock after selling 11,113 shares during the quarter. Raymond James & Associates’ holdings in SunPower were worth $161,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Schroder Investment Management Group grew its holdings in SunPower by 18.8% during the 3rd quarter. Schroder Investment Management Group now owns 8,082,152 shares of the semiconductor company’s stock worth $49,867,000 after acquiring an additional 1,279,226 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of SunPower by 1.6% during the third quarter. Vanguard Group Inc. now owns 9,443,481 shares of the semiconductor company’s stock worth $58,266,000 after purchasing an additional 145,367 shares in the last quarter. Barclays PLC increased its holdings in SunPower by 9.8% in the third quarter. Barclays PLC now owns 52,243 shares of the semiconductor company’s stock valued at $322,000 after buying an additional 4,671 shares during the last quarter. Invesco Ltd. increased its holdings in SunPower by 12.7% in the third quarter. Invesco Ltd. now owns 4,726,404 shares of the semiconductor company’s stock valued at $29,162,000 after buying an additional 531,800 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in SunPower by 2,371.3% in the third quarter. Federated Hermes Inc. now owns 582,902 shares of the semiconductor company’s stock valued at $3,597,000 after buying an additional 559,315 shares in the last quarter. 47.36% of the stock is currently owned by hedge funds and other institutional investors.

SunPower Price Performance

NASDAQ SPWR opened at $2.08 on Thursday. The business has a 50 day moving average price of $2.71 and a 200 day moving average price of $3.68. The company has a market capitalization of $364.75 million, a P/E ratio of -1.64 and a beta of 1.73. SunPower Co. has a 1-year low of $1.76 and a 1-year high of $12.79.

SunPower (NASDAQ:SPWR) last released 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). The firm had revenue of $356.91 million for the quarter, compared to analyst estimates of $364.58 million. SunPower had a negative return on equity of 40.95% and a negative net margin of 14.15%. On average, research analysts expect that SunPower Co. will post -0.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SPWR has been the topic of a number of recent analyst reports. Susquehanna dropped their price objective on SunPower from $4.50 to $3.00 and set a “neutral” rating on the stock in a report on Friday, April 5th. The Goldman Sachs Group reduced their price objective on shares of SunPower from $4.00 to $2.50 and set a “sell” rating for the company in a research report on Monday, January 22nd. Raymond James downgraded shares of SunPower from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 4th. Guggenheim cut shares of SunPower from a “neutral” rating to a “sell” rating in a research report on Friday, February 16th. Finally, Scotiabank decreased their price objective on shares of SunPower from $6.00 to $4.00 and set a “sector perform” rating for the company in a research note on Monday. Ten analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.72.

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.