ICM Asset Management Inc. WA Has $667,000 Stake in SunPower Co. (SPWR)

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ICM Asset Management Inc. WA trimmed its stake in SunPower Co. (NASDAQ:SPWR) by 11.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,405 shares of the semiconductor company’s stock after selling 12,915 shares during the quarter. ICM Asset Management Inc. WA owned approximately 0.07% of SunPower worth $667,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in shares of SunPower by 40.4% in the fourth quarter. Rhumbline Advisers now owns 90,729 shares of the semiconductor company’s stock valued at $451,000 after purchasing an additional 26,089 shares during the period. Canal Insurance CO purchased a new stake in SunPower during the fourth quarter valued at about $298,000. Vanguard Group Inc grew its position in SunPower by 10.2% during the third quarter. Vanguard Group Inc now owns 6,265,071 shares of the semiconductor company’s stock valued at $45,735,000 after acquiring an additional 580,984 shares during the period. MetLife Investment Advisors LLC grew its position in SunPower by 55.4% during the third quarter. MetLife Investment Advisors LLC now owns 48,884 shares of the semiconductor company’s stock valued at $357,000 after acquiring an additional 17,431 shares during the period. Finally, SG Americas Securities LLC grew its position in SunPower by 75.1% during the fourth quarter. SG Americas Securities LLC now owns 25,935 shares of the semiconductor company’s stock valued at $129,000 after acquiring an additional 11,124 shares during the period. 27.58% of the stock is owned by institutional investors.

Shares of NASDAQ SPWR traded down $0.12 on Monday, hitting $7.47. The company had a trading volume of 1,200,094 shares, compared to its average volume of 1,730,010. SunPower Co. has a 12-month low of $4.55 and a 12-month high of $10.00. The company has a debt-to-equity ratio of 39.39, a current ratio of 1.52 and a quick ratio of 1.09. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -8.49 and a beta of 2.30.

SunPower (NASDAQ:SPWR) last issued its earnings results on Wednesday, February 13th. The semiconductor company reported ($0.25) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.38) by $0.13. SunPower had a negative return on equity of 83.67% and a negative net margin of 46.99%. The company had revenue of $525.40 million during the quarter, compared to the consensus estimate of $566.06 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. The company’s revenue was down 36.2% compared to the same quarter last year. Research analysts expect that SunPower Co. will post -0.89 EPS for the current fiscal year.

A number of research firms have issued reports on SPWR. JPMorgan Chase & Co. began coverage on SunPower in a research report on Thursday. They set a “neutral” rating and a $7.50 price target for the company. BidaskClub raised SunPower from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. ValuEngine raised SunPower from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Credit Suisse Group downgraded SunPower from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $10.00 to $7.00 in a research report on Friday, February 15th. Finally, Bank of America downgraded SunPower from a “neutral” rating to an “underperform” rating and set a $6.00 price target for the company. in a research report on Friday, February 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $6.82.

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SunPower Company Profile

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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