California Public Employees Retirement System Has $3.40 Million Position in SunPower Co. (SPWR)

California Public Employees Retirement System increased its holdings in SunPower Co. (NASDAQ:SPWR) by 14.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 684,902 shares of the semiconductor company’s stock after purchasing an additional 84,826 shares during the quarter. California Public Employees Retirement System’s holdings in SunPower were worth $3,404,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SPWR. ETF Managers Group LLC lifted its holdings in SunPower by 15.8% in the fourth quarter. ETF Managers Group LLC now owns 16,339 shares of the semiconductor company’s stock valued at $81,000 after buying an additional 2,226 shares during the period. Alps Advisors Inc. lifted its holdings in SunPower by 21.7% in the fourth quarter. Alps Advisors Inc. now owns 31,732 shares of the semiconductor company’s stock valued at $158,000 after buying an additional 5,652 shares during the period. North Star Investment Management Corp. lifted its holdings in SunPower by 19.9% in the fourth quarter. North Star Investment Management Corp. now owns 36,200 shares of the semiconductor company’s stock valued at $180,000 after buying an additional 6,000 shares during the period. Baird Financial Group Inc. lifted its holdings in SunPower by 9.7% in the third quarter. Baird Financial Group Inc. now owns 92,731 shares of the semiconductor company’s stock valued at $659,000 after buying an additional 8,230 shares during the period. Finally, KBC Group NV lifted its holdings in SunPower by 3.9% in the fourth quarter. KBC Group NV now owns 273,271 shares of the semiconductor company’s stock valued at $1,358,000 after buying an additional 10,169 shares during the period. 26.75% of the stock is currently owned by institutional investors.

Several research firms recently issued reports on SPWR. Credit Suisse Group lowered shares of SunPower from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $10.00 to $7.00 in a report on Friday, February 15th. BidaskClub lowered shares of SunPower from a “sell” rating to a “strong sell” rating in a report on Saturday, December 8th. Bank of America lowered shares of SunPower from a “neutral” rating to an “underperform” rating and set a $6.00 target price on the stock. in a report on Friday, February 15th. Zacks Investment Research upgraded shares of SunPower from a “hold” rating to a “buy” rating and set a $6.25 target price on the stock in a report on Wednesday, January 9th. Finally, Barclays began coverage on shares of SunPower in a report on Monday, January 7th. They issued an “underweight” rating and a $4.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.04.



Shares of NASDAQ SPWR opened at $6.65 on Wednesday. SunPower Co. has a 1-year low of $4.55 and a 1-year high of $10.00. The stock has a market cap of $915.66 million, a PE ratio of -7.56 and a beta of 2.30. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 39.39.

SunPower (NASDAQ:SPWR) last announced its quarterly earnings data on Wednesday, February 13th. The semiconductor company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.13. SunPower had a negative net margin of 46.99% and a negative return on equity of 83.67%. The firm had revenue of $525.40 million for the quarter, compared to analyst estimates of $566.06 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. The business’s quarterly revenue was down 36.2% compared to the same quarter last year. Equities analysts anticipate that SunPower Co. will post -1.11 EPS for the current year.

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About SunPower

SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.

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Institutional Ownership by Quarter for SunPower (NASDAQ:SPWR)

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