SG Americas Securities LLC Sells 23,628 Shares of SunPower Co. (SPWR)
SG Americas Securities LLC lessened its holdings in SunPower Co. (NASDAQ:SPWR) by 44.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,107 shares of the semiconductor company’s stock after selling 23,628 shares during the quarter. SG Americas Securities LLC’s holdings in SunPower were worth $245,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Raymond James Financial Services Advisors Inc. grew its holdings in SunPower by 8.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 23,084 shares of the semiconductor company’s stock worth $216,000 after purchasing an additional 1,730 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of SunPower by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,390,856 shares of the semiconductor company’s stock valued at $12,991,000 after buying an additional 3,841 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of SunPower by 13.6% during the second quarter. Alliancebernstein L.P. now owns 46,900 shares of the semiconductor company’s stock valued at $438,000 after buying an additional 5,610 shares during the last quarter. Shelton Capital Management grew its holdings in shares of SunPower by 10.8% during the third quarter. Shelton Capital Management now owns 70,000 shares of the semiconductor company’s stock valued at $510,000 after buying an additional 6,800 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of SunPower by 36.1% during the second quarter. Voya Investment Management LLC now owns 25,697 shares of the semiconductor company’s stock valued at $240,000 after buying an additional 6,810 shares during the last quarter. Institutional investors and hedge funds own 26.39% of the company’s stock.
In related news, Director Catherine A. Lesjak sold 23,632 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $7.50, for a total value of $177,240.00. Following the sale, the director now owns 55,924 shares in the company, valued at $419,430. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.92% of the company’s stock.
SunPower (NASDAQ:SPWR) last issued its earnings results on Wednesday, February 14th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.34. SunPower had a negative net margin of 45.47% and a negative return on equity of 8.74%. The company had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $796.62 million. During the same quarter last year, the company posted ($0.64) earnings per share. The firm’s quarterly revenue was down 24.9% on a year-over-year basis. analysts expect that SunPower Co. will post -1.29 EPS for the current fiscal year.
A number of equities research analysts have recently commented on SPWR shares. Robert W. Baird upgraded shares of SunPower from a “neutral” rating to an “outperform” rating and increased their price target for the company from $7.00 to $10.00 in a report on Monday, December 11th. BidaskClub cut shares of SunPower from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Bank of America started coverage on shares of SunPower in a report on Saturday, December 30th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. cut their price target on shares of SunPower from $8.00 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, February 15th. Finally, Guggenheim reiterated a “hold” rating on shares of SunPower in a report on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $9.22.
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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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