Mutual of America Capital Management LLC Acquires 1,446 Shares of SunPower Co. (NASDAQ:SPWR)

view original post

Mutual of America Capital Management LLC raised its holdings in shares of SunPower Co. (NASDAQ:SPWRGet Rating) by 1.9% during the first quarter, HoldingsChannel reports. The fund owned 75,742 shares of the semiconductor company’s stock after purchasing an additional 1,446 shares during the quarter. Mutual of America Capital Management LLC’s holdings in SunPower were worth $1,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC raised its holdings in SunPower by 20.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 4,642 shares of the semiconductor company’s stock valued at $100,000 after acquiring an additional 796 shares during the period. Fifth Third Bancorp grew its position in shares of SunPower by 90.9% during the 1st quarter. Fifth Third Bancorp now owns 4,772 shares of the semiconductor company’s stock valued at $103,000 after purchasing an additional 2,272 shares in the last quarter. Guinness Atkinson Asset Management Inc grew its position in shares of SunPower by 26.4% during the 1st quarter. Guinness Atkinson Asset Management Inc now owns 5,435 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 1,135 shares in the last quarter. National Bank of Canada FI purchased a new position in shares of SunPower during the 4th quarter valued at $122,000. Finally, Vigilant Capital Management LLC purchased a new position in shares of SunPower during the 1st quarter valued at $129,000. Institutional investors own 36.61% of the company’s stock.

Wall Street Analyst Weigh In

SPWR has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered shares of SunPower from a “neutral” rating to a “sell” rating and reduced their price target for the company from $19.00 to $13.00 in a research report on Monday, June 20th. Raymond James reduced their price target on shares of SunPower from $26.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, July 12th. Piper Sandler cut their target price on shares of SunPower from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, July 19th. JPMorgan Chase & Co. upped their target price on shares of SunPower from $19.00 to $20.00 in a research report on Wednesday, July 20th. Finally, Robert W. Baird upped their target price on shares of SunPower from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, April 1st. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.71.

SunPower Stock Up 2.7 %

NASDAQ SPWR opened at $20.37 on Friday. The company has a 50-day simple moving average of $17.10 and a two-hundred day simple moving average of $17.92. SunPower Co. has a 12-month low of $12.78 and a 12-month high of $34.61. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of -135.79 and a beta of 2.02.

SunPower (NASDAQ:SPWRGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter. SunPower had a negative net margin of 1.23% and a negative return on equity of 3.50%. The business had revenue of $350.28 million for the quarter, compared to analysts’ expectations of $317.56 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The business’s quarterly revenue was up 45.9% on a year-over-year basis. Equities analysts expect that SunPower Co. will post 0.23 earnings per share for the current fiscal year.

SunPower Company Profile

(Get Rating)

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions to customers primarily in the United States and Canada. It operates through Residential, Light Commercial; Commercial and Industrial Solutions; and Others segments. The company provides solar, storage, and home energy solutions and components through a combination of its third-party installing and non-installing dealer network and resellers, as well as in-house sales team; and turn-key engineering, procurement, and construction services and sale of energy under power purchase agreements.

Recommended Stories

Want to see what other hedge funds are holding SPWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SunPower Co. (NASDAQ:SPWRGet Rating).

Receive News & Ratings for SunPower Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for SunPower and related companies with MarketBeat.com’s FREE daily email newsletter.

Related Posts