SunPower Co. (NASDAQ:SPWR) CFO Manavendra Sial Sells 42,322 Shares

SunPower Co. (NASDAQ:SPWR) CFO Manavendra Sial sold 42,322 shares of SunPower stock in a transaction dated Tuesday, June 8th. The stock was sold at an average price of $25.00, for a total value of $1,058,050.00. Following the sale, the chief financial officer now directly owns 50,540 shares of the company’s stock, valued at $1,263,500. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Manavendra Sial also recently made the following trade(s):

  • On Friday, May 7th, Manavendra Sial sold 11,116 shares of SunPower stock. The shares were sold at an average price of $23.09, for a total value of $256,668.44.

NASDAQ SPWR opened at $26.44 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.20 and a quick ratio of 1.74. The stock’s 50 day simple moving average is $25.47. SunPower Co. has a 12-month low of $6.92 and a 12-month high of $57.52. The firm has a market cap of $4.56 billion, a PE ratio of 12.30 and a beta of 2.08.

SunPower (NASDAQ:SPWR) last released its earnings results on Wednesday, May 5th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. SunPower had a negative return on equity of 14.10% and a net margin of 33.55%. The company had revenue of $306.40 million for the quarter, compared to analysts’ expectations of $310.15 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, research analysts predict that SunPower Co. will post 0.31 earnings per share for the current year.

Several analysts have recently weighed in on the company. Credit Suisse Group reissued an “underperform” rating and issued a $23.00 target price on shares of SunPower in a report on Monday, March 1st. Barclays reduced their target price on SunPower from $23.00 to $20.00 and set an “underweight” rating for the company in a report on Thursday, May 6th. Robert W. Baird reissued a “buy” rating on shares of SunPower in a report on Monday, March 29th. Piper Sandler reduced their target price on SunPower from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, March 9th. They noted that the move was a valuation call. Finally, Morgan Stanley reduced their target price on SunPower from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Tuesday, April 20th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. SunPower has a consensus rating of “Hold” and an average price target of $26.42.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPWR. Trustcore Financial Services LLC acquired a new position in SunPower during the 4th quarter worth approximately $26,000. Baillie Gifford & Co. acquired a new stake in shares of SunPower in the 4th quarter worth approximately $38,000. Close Asset Management Ltd acquired a new stake in shares of SunPower in the 1st quarter worth approximately $40,000. Ameritas Investment Company LLC acquired a new stake in shares of SunPower in the 1st quarter worth approximately $45,000. Finally, Retirement Group LLC acquired a new stake in shares of SunPower in the 4th quarter worth approximately $58,000. Institutional investors own 32.61% of the company’s stock.

About SunPower

SunPower Corporation delivers solar solutions worldwide. It operates through Residential, Light Commercial; Commercial and Industrial Solutions; and Others segments. The company provides solar energy solutions, including sales to its third-party dealer network and resellers, storage solutions, cash and loan sales, and long-term leases directly to end customers; and sells turn-key engineering, procurement, and construction services, as well as sells energy under power purchase agreements.

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