Schroder Investment Management Group Acquires 1,279,226 Shares of SunPower Co. (NASDAQ:SPWR)

Schroder Investment Management Group raised its holdings in SunPower Co. (NASDAQ:SPWR - Free Report) by 18.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,082,152 shares of the semiconductor company's stock after acquiring an additional 1,279,226 shares during the period. Schroder Investment Management Group owned about 4.61% of SunPower worth $49,867,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. US Bancorp DE boosted its stake in shares of SunPower by 205.7% during the first quarter. US Bancorp DE now owns 4,106 shares of the semiconductor company's stock valued at $88,000 after purchasing an additional 2,763 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of SunPower by 13.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,200 shares of the semiconductor company's stock valued at $262,000 after purchasing an additional 1,479 shares in the last quarter. Cetera Advisor Networks LLC acquired a new stake in shares of SunPower during the first quarter valued at about $209,000. PNC Financial Services Group Inc. boosted its stake in shares of SunPower by 66.9% during the first quarter. PNC Financial Services Group Inc. now owns 4,469 shares of the semiconductor company's stock valued at $96,000 after purchasing an additional 1,792 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of SunPower by 7.5% during the first quarter. Bank of Montreal Can now owns 29,987 shares of the semiconductor company's stock valued at $628,000 after purchasing an additional 2,090 shares in the last quarter. Institutional investors own 47.36% of the company's stock.

Wall Street Analysts Forecast Growth

SPWR has been the topic of a number of recent analyst reports. Mizuho cut their price objective on SunPower from $6.00 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 30th. Truist Financial lowered their target price on SunPower from $5.00 to $3.50 and set a "hold" rating for the company in a report on Tuesday, January 23rd. Wells Fargo & Company reiterated an "underweight" rating and issued a $4.00 target price (down from $6.00) on shares of SunPower in a report on Monday, January 8th. The Goldman Sachs Group lowered their target price on SunPower from $4.00 to $2.50 and set a "sell" rating for the company in a report on Monday, January 22nd. Finally, Susquehanna lifted their target price on SunPower from $4.00 to $4.50 and gave the stock a "neutral" rating in a report on Friday, February 16th. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $5.43.

SunPower Price Performance

Shares of SPWR opened at $2.90 on Friday. The stock's 50-day simple moving average is $3.51 and its 200 day simple moving average is $4.76. SunPower Co. has a 52-week low of $2.74 and a 52-week high of $16.28.

SunPower Company Profile

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.

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