WFG Advisors LP Acquires 1,100 Shares of SunPower Corporation (SPWR)
WFG Advisors LP boosted its holdings in SunPower Corporation (NASDAQ:SPWR) by 7.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,550 shares of the semiconductor company’s stock after purchasing an additional 1,100 shares during the quarter. WFG Advisors LP’s holdings in SunPower Corporation were worth $145,000 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 SPWR. Vanguard Group Inc. grew its holdings in SunPower Corporation by 13.8% in the second quarter. Vanguard Group Inc. now owns 4,922,577 shares of the semiconductor company’s stock worth $45,977,000 after purchasing an additional 598,221 shares during the period. Northern Trust Corp grew its holdings in SunPower Corporation by 141.3% in the second quarter. Northern Trust Corp now owns 845,237 shares of the semiconductor company’s stock worth $7,894,000 after purchasing an additional 494,979 shares during the period. GAM Holding AG grew its holdings in SunPower Corporation by 970.8% in the second quarter. GAM Holding AG now owns 428,311 shares of the semiconductor company’s stock worth $4,000,000 after purchasing an additional 388,311 shares during the period. Delta Lloyd Asset Management N.V. purchased a new stake in SunPower Corporation in the second quarter worth about $2,895,000. Finally, State Street Corp grew its holdings in SunPower Corporation by 14.0% in the second quarter. State Street Corp now owns 2,421,834 shares of the semiconductor company’s stock worth $22,619,000 after purchasing an additional 296,862 shares during the period. Institutional investors and hedge funds own 28.82% of the company’s stock.
Shares of SunPower Corporation (NASDAQ SPWR) traded down 1.35% on Friday, hitting $6.60. 269,345 shares of the stock traded hands. The stock’s market cap is $920.64 million. The stock’s 50 day moving average price is $7.71 and its 200 day moving average price is $8.23. SunPower Corporation has a 52-week low of $5.84 and a 52-week high of $11.70.
SunPower Corporation (NASDAQ:SPWR) last released its earnings results on Tuesday, August 1st. The semiconductor company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.24. The company had revenue of $341.50 million during the quarter, compared to analysts’ expectations of $312.58 million. SunPower Corporation had a negative net margin of 21.84% and a negative return on equity of 12.56%. SunPower Corporation’s revenue for the quarter was down 15.0% on a year-over-year basis. During the same period last year, the business earned ($0.22) EPS. On average, equities analysts expect that SunPower Corporation will post ($1.08) EPS for the current fiscal year.
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A number of equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of SunPower Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Morgan Stanley downgraded shares of SunPower Corporation from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $7.22 to $6.00 in a research note on Wednesday, September 27th. Bank of America Corporation dropped their target price on shares of SunPower Corporation from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 26th. ValuEngine downgraded shares of SunPower Corporation from a “hold” rating to a “sell” rating in a research note on Friday, September 22nd. Finally, Cowen and Company reiterated a “buy” rating and issued a $12.00 target price on shares of SunPower Corporation in a research note on Sunday, September 17th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. SunPower Corporation currently has an average rating of “Hold” and an average target price of $9.27.
SunPower Corporation 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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