Oppenheimer reissued their market perform rating on shares of SunPower (NASDAQ:SPWR) in a research note released on Thursday morning. The brokerage currently has a $10.00 target price on the semiconductor company’s stock.
Several other brokerages have also recently commented on SPWR. Robert W. Baird raised shares of SunPower from a neutral rating to an outperform rating and raised their target price for the stock from $7.00 to $10.00 in a report on Monday, December 11th. BidaskClub cut shares of SunPower from a buy rating to a hold rating in a report on Wednesday, December 27th. Bank of America initiated coverage on shares of SunPower in a report on Saturday, December 30th. They set a neutral rating on the stock. Guggenheim reaffirmed a hold rating on shares of SunPower in a report on Thursday, January 18th. Finally, ValuEngine raised shares of SunPower from a sell rating to a hold rating in a report on Saturday, November 4th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. SunPower presently has an average rating of Hold and an average target price of $9.22.
SunPower (NASDAQ:SPWR) opened at $7.64 on Thursday. SunPower has a fifty-two week low of $5.84 and a fifty-two week high of $11.70. The company has a market cap of $1,070.00, a P/E ratio of -1.94 and a beta of 2.73. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 1.71.
SunPower (NASDAQ:SPWR) last announced its earnings results on Wednesday, February 14th. The semiconductor company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.34. SunPower had a negative net margin of 45.47% and a negative return on equity of 7.17%. The company had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $796.62 million. During the same period last year, the firm earned ($0.64) earnings per share. The business’s revenue for the quarter was down 24.9% on a year-over-year basis. research analysts predict that SunPower will post -0.26 EPS for the current fiscal year.
In related news, Director Catherine A. Lesjak sold 23,632 shares of SunPower stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $7.50, for a total value of $177,240.00. Following the transaction, the director now directly owns 55,924 shares of the company’s stock, valued at $419,430. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.92% of the company’s stock.
A number of large investors have recently made changes to their positions in SPWR. Cortland Associates Inc. MO bought a new position in SunPower in the third quarter valued at approximately $109,000. Oppenheimer & Co. Inc. bought a new position in SunPower in the third quarter valued at approximately $112,000. HighTower Advisors LLC bought a new position in SunPower in the second quarter valued at approximately $124,000. WFG Advisors LP increased its stake in SunPower by 7.6% in the second quarter. WFG Advisors LP now owns 15,550 shares of the semiconductor company’s stock valued at $145,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Clarus Wealth Advisors bought a new position in SunPower in the fourth quarter valued at approximately $148,000. 26.15% of the stock is currently owned by institutional investors and hedge funds.
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SunPower Corporation is a global energy company. The Company delivers complete solar solutions to residential, commercial, and power plant customers. The Company’s segments include Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation.
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