SunPower Co. (NASDAQ:SPWR) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its stake in SunPower Co. (NASDAQ:SPWR) by 15.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 44,904 shares of the semiconductor company’s stock after selling 8,435 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in SunPower were worth $217,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SPWR. Schroder Investment Management Group lifted its holdings in shares of SunPower by 18.8% in the 3rd quarter. Schroder Investment Management Group now owns 8,082,152 shares of the semiconductor company’s stock worth $49,867,000 after acquiring an additional 1,279,226 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of SunPower by 193.0% in the 4th quarter. Federated Hermes Inc. now owns 1,708,133 shares of the semiconductor company’s stock worth $8,250,000 after acquiring an additional 1,125,231 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of SunPower by 12.7% in the 3rd quarter. Invesco Ltd. now owns 4,726,404 shares of the semiconductor company’s stock worth $29,162,000 after acquiring an additional 531,800 shares during the last quarter. Bank of Nova Scotia acquired a new position in shares of SunPower in the 3rd quarter worth approximately $1,077,000. Finally, Vanguard Group Inc. lifted its holdings in shares of SunPower by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 9,443,481 shares of the semiconductor company’s stock worth $58,266,000 after acquiring an additional 145,367 shares during the last quarter. 47.36% of the stock is currently owned by institutional investors and hedge funds.

SunPower Stock Up 1.0 %

NASDAQ SPWR opened at $2.08 on Thursday. The firm’s fifty day moving average price is $2.71 and its 200 day moving average price is $3.68. SunPower Co. has a 12 month low of $1.76 and a 12 month high of $12.79.

SunPower (NASDAQ:SPWR) last posted its earnings results on Thursday, February 15th. The semiconductor company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.24). The company had revenue of $356.91 million during the quarter, compared to analysts’ expectations of $364.58 million. SunPower had a negative net margin of 14.15% and a negative return on equity of 40.95%. Equities analysts anticipate that SunPower Co. will post -0.74 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Guggenheim lowered shares of SunPower from a “neutral” rating to a “sell” rating in a report on Friday, February 16th. Citigroup reduced their target price on shares of SunPower from $3.00 to $2.50 and set a “sell” rating on the stock in a report on Thursday, March 28th. The Goldman Sachs Group reduced their target price on shares of SunPower from $4.00 to $2.50 and set a “sell” rating on the stock in a report on Monday, January 22nd. Scotiabank reduced their target price on shares of SunPower from $6.00 to $4.00 and set a “sector perform” rating on the stock in a report on Monday. Finally, Susquehanna reduced their target price on shares of SunPower from $4.50 to $3.00 and set a “neutral” rating on the stock in a report on Friday, April 5th. Ten equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $4.72.

About SunPower

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions primarily in the United States and Canada. Its solutions include the Equinox and SunVault systems which are pre-engineered modular solutions for residential applications that combine solar module technology with integrated plug-and-play power stations, cable management systems, and mounting hardware that enable dealers and installers to complete system installations, as well as for end customers to manage their energy production.