Boston Advisors LLC Makes New $975,000 Investment in SunPower Co. (NASDAQ:SPWR)

Boston Advisors LLC bought a new position in SunPower Co. (NASDAQ:SPWR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 88,858 shares of the semiconductor company’s stock, valued at approximately $975,000.

Several other hedge funds also recently bought and sold shares of SPWR. DAVENPORT & Co LLC purchased a new position in shares of SunPower during the 2nd quarter valued at about $132,000. North Star Investment Management Corp. lifted its position in shares of SunPower by 8.8% during the 2nd quarter. North Star Investment Management Corp. now owns 37,200 shares of the semiconductor company’s stock valued at $398,000 after buying an additional 3,000 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of SunPower by 8.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 21,276 shares of the semiconductor company’s stock valued at $227,000 after buying an additional 1,628 shares in the last quarter. KBC Group NV lifted its position in shares of SunPower by 5.7% during the 2nd quarter. KBC Group NV now owns 472,194 shares of the semiconductor company’s stock valued at $5,048,000 after buying an additional 25,476 shares in the last quarter. Finally, Aperio Group LLC lifted its position in shares of SunPower by 92.4% during the 2nd quarter. Aperio Group LLC now owns 164,083 shares of the semiconductor company’s stock valued at $1,754,000 after buying an additional 78,799 shares in the last quarter. 30.71% of the stock is currently owned by hedge funds and other institutional investors.

SPWR has been the topic of a number of analyst reports. BidaskClub cut SunPower from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Credit Suisse Group raised SunPower from a “neutral” rating to an “outperform” rating in a research report on Thursday, August 1st. ValuEngine cut SunPower from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 5th. Goldman Sachs Group set a $14.00 price objective on SunPower and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Vertical Group began coverage on SunPower in a research report on Monday, July 22nd. They set a “sell” rating on the stock. Six research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $8.79.

Shares of SPWR opened at $7.98 on Friday. The business’s 50 day moving average is $9.68 and its 200 day moving average is $10.52. The company has a market capitalization of $1.21 billion, a PE ratio of -9.07 and a beta of 2.23. SunPower Co. has a 12-month low of $4.55 and a 12-month high of $16.04.

SunPower (NASDAQ:SPWR) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. The business had revenue of $491.70 million for the quarter, compared to the consensus estimate of $475.29 million. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the business posted ($0.29) EPS. On average, equities research analysts predict that SunPower Co. will post -0.59 EPS for the current year.

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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