Alliancebernstein L.P. reduced its position in SunPower Corporation (NASDAQ:SPWR) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,290 shares of the semiconductor company’s stock after selling 1,450 shares during the period. Alliancebernstein L.P.’s holdings in SunPower Corporation were worth $252,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP increased its position in shares of SunPower Corporation by 9.4% in the first quarter. First Trust Advisors LP now owns 1,292,779 shares of the semiconductor company’s stock worth $7,886,000 after buying an additional 111,168 shares during the last quarter. SG Americas Securities LLC increased its position in shares of SunPower Corporation by 138.5% in the first quarter. SG Americas Securities LLC now owns 192,516 shares of the semiconductor company’s stock worth $1,174,000 after buying an additional 111,809 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of SunPower Corporation by 38.5% in the first quarter. Parametric Portfolio Associates LLC now owns 152,635 shares of the semiconductor company’s stock worth $931,000 after buying an additional 42,426 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of SunPower Corporation during the first quarter worth about $838,000. Finally, Teachers Advisors LLC increased its position in shares of SunPower Corporation by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 97,906 shares of the semiconductor company’s stock worth $647,000 after buying an additional 696 shares during the last quarter. 25.55% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SunPower Corporation (NASDAQ SPWR) traded down 0.31% during mid-day trading on Wednesday, reaching $9.77. 319,992 shares of the company’s stock traded hands. The firm’s market cap is $1.36 billion. SunPower Corporation has a one year low of $5.84 and a one year high of $11.70. The firm’s 50-day moving average is $9.90 and its 200 day moving average is $7.96.

SunPower Corporation (NASDAQ:SPWR) last announced its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported ($0.39) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.24. The company had revenue of $341.50 million for the quarter, compared to analyst estimates of $312.58 million. SunPower Corporation had a negative net margin of 21.84% and a negative return on equity of 12.56%. The firm’s revenue was down 15.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.22) earnings per share. Analysts predict that SunPower Corporation will post ($0.98) earnings per share for the current year.

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A number of research analysts have recently issued reports on SPWR shares. Vetr downgraded shares of SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $12.52 price objective on the stock. in a research report on Monday, July 31st. Zacks Investment Research downgraded shares of SunPower Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Cowen and Company set a $12.00 price objective on shares of SunPower Corporation and gave the stock a “buy” rating in a research report on Monday, July 10th. Axiom Securities reaffirmed a “buy” rating on shares of SunPower Corporation in a research report on Saturday, July 22nd. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $13.00 price objective (up previously from $10.00) on shares of SunPower Corporation in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. SunPower Corporation currently has a consensus rating of “Hold” and a consensus target price of $9.25.

SunPower Corporation Company Profile

SunPower Corporation is a global energy company. The Company delivers complete solar solutions to residential, commercial, and power plant customers. The Company’s segments include Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation.

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Institutional Ownership by Quarter for SunPower Corporation (NASDAQ:SPWR)

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