Legal & General Group Plc lifted its stake in shares of SunPower Corporation (NASDAQ:SPWR) by 422.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,245 shares of the semiconductor company’s stock after buying an additional 14,755 shares during the quarter. Legal & General Group Plc’s holdings in SunPower Corporation were worth $171,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in SPWR. CAPROCK Group Inc. grew its position in shares of SunPower Corporation by 1.1% during the second quarter. CAPROCK Group Inc. now owns 11,941 shares of the semiconductor company’s stock worth $112,000 after buying an additional 128 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of SunPower Corporation by 109.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,354 shares of the semiconductor company’s stock worth $130,000 after buying an additional 11,159 shares in the last quarter. Candriam Luxembourg S.C.A. acquired a new stake in shares of SunPower Corporation during the second quarter worth approximately $130,000. BlueCrest Capital Management Ltd grew its position in shares of SunPower Corporation by 3.6% during the first quarter. BlueCrest Capital Management Ltd now owns 39,563 shares of the semiconductor company’s stock worth $241,000 after buying an additional 1,380 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its position in shares of SunPower Corporation by 4.0% during the first quarter. Asset Management One Co. Ltd. now owns 48,281 shares of the semiconductor company’s stock worth $295,000 after buying an additional 1,848 shares in the last quarter. 28.82% of the stock is owned by institutional investors and hedge funds.

Shares of SunPower Corporation (SPWR) opened at 6.96 on Friday. SunPower Corporation has a 1-year low of $5.84 and a 1-year high of $11.70. The firm has a 50-day moving average price of $7.94 and a 200-day moving average price of $8.22. The company’s market capitalization is $970.86 million.

SunPower Corporation (NASDAQ:SPWR) last announced its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.24. SunPower Corporation had a negative return on equity of 12.56% and a negative net margin of 21.84%. The firm had revenue of $341.50 million for the quarter, compared to analysts’ expectations of $312.58 million. During the same period in the prior year, the business posted ($0.22) earnings per share. The business’s revenue was down 15.0% compared to the same quarter last year. Equities analysts anticipate that SunPower Corporation will post ($1.08) earnings per share for the current year.

A number of research firms have recently weighed in on SPWR. Cowen and Company set a $12.00 price target on shares of SunPower Corporation and gave the stock a “buy” rating in a research report on Friday, August 11th. Zacks Investment Research raised shares of SunPower Corporation from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Monday, August 7th. ValuEngine raised shares of SunPower Corporation from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub raised shares of SunPower Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, Deutsche Bank AG raised their price target on shares of SunPower Corporation from $6.00 to $9.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $9.27.

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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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Institutional Ownership by Quarter for SunPower Corporation (NASDAQ:SPWR)

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