UBS began coverage on shares of SunPower (NASDAQ:SPWR) in a research note published on Thursday, March 15th, www.benzinga.com reports. The firm issued a neutral rating and a $8.00 price target on the semiconductor company’s stock.
A number of other research analysts have also weighed in on SPWR. ValuEngine lowered SunPower from a hold rating to a sell rating in a report on Friday, December 1st. Robert W. Baird raised 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 upgraded SunPower from a hold rating to a buy rating in a research report on Tuesday, December 19th. Bank of America began coverage on SunPower in a research report on Friday, December 22nd. They set a neutral rating and a $10.00 price target on the stock. Finally, Zacks Investment Research downgraded SunPower from a buy rating to a hold rating in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $9.11.
SPWR opened at $8.10 on Thursday. SunPower has a 52-week low of $6.10 and a 52-week high of $11.70. The firm has a market cap of $1,071.83, a P/E ratio of -19.76 and a beta of 2.58. The company has a debt-to-equity ratio of 5.05, a current ratio of 1.23 and a quick ratio of 0.91.
SunPower (NASDAQ:SPWR) last issued its earnings results on Wednesday, February 14th. The semiconductor company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.34. The business had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $796.62 million. SunPower had a negative return on equity of 8.74% and a negative net margin of 45.47%. The business’s revenue for the quarter was down 24.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.64) EPS. research analysts forecast that SunPower will post -1.29 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of SPWR. Oppenheimer & Co. Inc. acquired a new stake in shares of SunPower in the third quarter valued at $112,000. Clarus Wealth Advisors purchased a new position in SunPower in the fourth quarter valued at $148,000. MUFG Securities EMEA plc purchased a new position in SunPower in the fourth quarter valued at $163,000. Teacher Retirement System of Texas purchased a new position in SunPower in the fourth quarter valued at $184,000. Finally, Legal & General Group Plc boosted its holdings in SunPower by 44.1% in the third quarter. Legal & General Group Plc now owns 26,295 shares of the semiconductor company’s stock valued at $192,000 after purchasing an additional 8,050 shares during the period. 27.22% of the stock is owned by institutional investors and hedge funds.
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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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