Total S.A. Reported increased Interest in SunPower Corporation (NASDAQ:SPWR)
Total S.A. filed with SEC a SC 13D/A form about Sunpower Corp. The form can be accessed here: 000119312515400227. As reported by Total S.A., the filler increased its stake in the stock by 3.13% for 104,528,234 shares. Total S.A. currently owns 64.3% of the Information Technology- stock. This ownership filing was filed because activity on December 9, 2015.
Reasons Why Total S.A. Holds SunPower Corporation (NASDAQ:SPWR)
Item4. Purpose of Transaction
Item4 ishereby amended to add the following information at the end of such Item:
Debenture Purchase Agreement
On December, 9, 2015, Issuer entered into the 2023 Debenture Purchase Agreement under which the Issuer sold $400 million in aggregate principalof Debentures to GS. On December9, 2015, Purchaser acquired $100 million principal amount of the 2023 Debentures for an aggregate consideration of $100 million pursuant to the Letter Agreement, subject to closing of the transaction, which isexpected to occur on December15, 2015.
Sunpower Corp Institutional Sentiment
Latest Security and Exchange filings show 181 investors own Sunpower Corp. The institutional ownership in Q3 2015 is high, at 28.17% of the outstanding shares. This is decreased by 2995647 the total institutional shares. 38475630 were the shares owned by these institutional investors. In total 30 funds opened new Sunpower Corp stakes, 71 increased stakes. There were 27 that closed positions and 55 reduced them.
Rothschild Capital Partners Llc is an institutional investor bullish on Sunpower Corp, owning 181470 shares as of Q3 2015 for 1.53% of its portfolio. John Kim Karamaan Group Llc owns 48985 shares or 1.02% of its portfolio. X0 Ecofin Ltd have 3.31% of their stock portfolio for 859520 shares. Further, Vista Capital Partners Inc reported stake worth 0.32% of its US stock portfolio. The NY Quentec Asset Management Llc owns 678304 shares. Sunpower Corp is 2.34% of the manager’s US portfolio.
Business Profile
SunPower Corporation (SunPower) is a global energy company. The Company provides design, manufacturing, installation, ongoing maintenance and monitoring and adjacent services. The Company provides solar technology to residential, commercial and utility customers worldwide. The Company operates through three segments: the Americas Segment, the EMEA Segment and the APAC Segment. The Company offers solar power components, solar power systems and residential leases. The Company sells panels and balance of system components, primarily to dealers, system integrators and distributors. The Company designs, manufactures, and sells rooftop and ground-mounted solar power systems under construction and development agreements. The Company offers post-installation systems monitoring and maintenance in connection with its construction contracts and commercial power purchase.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
The institutional sentiment decreased to 1.23 in Q3 2015. Its down 0.04, from 1.27 in 2015Q2. The ratio dived, as 27 funds sold all SunPower Corporation shares owned while 55 reduced positions. 30 funds bought stakes while 71 increased positions. They now own 38.48 million shares or 7.38% less from 41.54 million shares in 2015Q2.
Ecofin Ltd holds 3.31% of its portfolio in SunPower Corporation for 859,520 shares. Quentec Asset Management Llc owns 678,304 shares or 2.34% of their US portfolio. Moreover, Hellman Jordan Management Co Inc Ma has 2.04% invested in the company for 411,897 shares. The Maryland-based Rothschild Capital Partners Llc has invested 1.53% in the stock. Westend Capital Management Llc, a California-based fund reported 48,049 shares.
Since May 15, 2015, the stock had 0 insider buys, and 4 selling transactions for $1.19 million net activity. Wood Patrick Iii sold 30,000 shares worth $689,100. Bodensteiner Lisa Marie sold 4,800 shares worth $113,960. Branderiz Eric sold 2,369 shares worth $59,225. Werner Thomas H sold 25,000 shares worth $790,465. The insider Wenger Howard sold 44,000 shares worth $1.42M.
About 5.45M shares traded hands or 244.94% up from the average. SunPower Corporation (NASDAQ:SPWR) has declined 28.22% since May 7, 2015 and is downtrending. It has underperformed by 26.29% the S&P500.
Out of 14 analysts covering SunPower (NASDAQ:SPWR), 12 rate it “Buy”, 0 “Sell”, while 3 “Hold”. This means 80% are positive. $45 is the highest target while $23 is the lowest. The $35.44 average target is 53.71% above today’s ($22.38) stock price. SunPower was the topic in 7 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Macquarie Research initiated the stock on November 6 with “Outperform” rating. JP Morgan maintained the shares of SPWR in a report on September 21 with “Overweight” rating. Finally, Northland Capital maintained the stock with “Outperform” rating in a July 29 report.
More notable recent SunPower Corporation (NASDAQ:SPWR) news were published by: Schaeffersresearch.com which released: “Canadian Solar Inc., SunPower Corporation Hit By Sector Headwinds” on December 10, 2015, also Investorplace.com with their article: “Why SunPower Corporation (SPWR), Costco Wholesale Corporation (COST) and Yahoo …” published on December 09, 2015, Fool.com published: “Why SunPower Corporation’s Shares Dropped in November” on December 08, 2015. More interesting news about SunPower Corporation (NASDAQ:SPWR) were released by: Fool.com and their article: “SunPower Corporation Moving Into Low-Cost Solar” published on November 18, 2015 as well as Bidnessetc.com‘s news article titled: “SunPower Corporation (SPWR) Earnings Likely To Escalate By 2020: Here’s Why” with publication date: November 16, 2015.
According to Zacks Investment Research, “SunPower Corp. designs and manufactures high-efficiency silicon solar cells and solar panels based on an all-back contact cell design. SunPower’s solar cells and panels generate electricity from sunlight for residential, commercial and remote power applications. Its proprietary all back contact silicon solar cell technology produces more power per square foot compared to conventional solar cells.” Get a free copy of the Zacks research report on SunPower Corporation (SPWR).
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 Total S.A. filed with SEC a SC 13D/A form about Sunpower Corp. The form can be accessed here: 000119312515400227. As reported…){kind=link}