SunPower (NASDAQ:SPWR) had its price target lifted by Bank of America from $8.00 to $8.50 in a research note published on Wednesday. The brokerage currently has a neutral rating on the semiconductor company’s stock.
Other analysts also recently issued research reports about the stock. ValuEngine raised shares of SunPower from a strong sell rating to a sell rating in a report on Monday, April 2nd. Credit Suisse Group initiated coverage on shares of SunPower in a report on Monday, February 12th. They set a neutral rating and a $7.20 price target on the stock. Oppenheimer reaffirmed a market perform rating and set a $10.00 price target on shares of SunPower in a report on Thursday, February 15th. UBS downgraded shares of SunPower from an outperform rating to a market perform rating in a report on Thursday, February 15th. Finally, BidaskClub raised shares of SunPower from a hold rating to a buy rating in a report on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. SunPower currently has an average rating of Hold and an average price target of $9.09.
Shares of SPWR stock opened at $9.69 on Wednesday. SunPower has a one year low of $6.46 and a one year high of $11.70. The stock has a market cap of $1,315.51, a P/E ratio of -23.63 and a beta of 2.58. The company has a current ratio of 1.23, a quick ratio of 0.91 and a debt-to-equity ratio of 5.05.
SunPower (NASDAQ:SPWR) last announced its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.25 EPS for the quarter, beating 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 8.74%. The company had revenue of $824.00 million for the quarter, compared to the consensus estimate of $796.62 million. During the same period in the prior year, the firm posted ($0.64) EPS. SunPower’s revenue for the quarter was down 24.9% on a year-over-year basis. analysts forecast that SunPower will post -1.29 EPS for the current year.
Several large investors have recently modified their holdings of the company. Legal & General Group Plc lifted its stake in shares of SunPower by 44.1% in the 3rd quarter. Legal & General Group Plc now owns 26,295 shares of the semiconductor company’s stock worth $192,000 after purchasing an additional 8,050 shares during the period. KBC Group NV lifted its stake in shares of SunPower by 13.5% in the 4th quarter. KBC Group NV now owns 73,037 shares of the semiconductor company’s stock worth $616,000 after purchasing an additional 8,711 shares during the period. Guinness Atkinson Asset Management Inc lifted its stake in shares of SunPower by 16.2% in the 4th quarter. Guinness Atkinson Asset Management Inc now owns 66,750 shares of the semiconductor company’s stock worth $562,000 after purchasing an additional 9,300 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of SunPower by 4.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 261,201 shares of the semiconductor company’s stock worth $2,202,000 after purchasing an additional 11,700 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of SunPower by 9.6% in the 4th quarter. First Trust Advisors LP now owns 152,750 shares of the semiconductor company’s stock worth $1,288,000 after purchasing an additional 13,346 shares during the period. Hedge funds and other institutional investors own 27.05% of the company’s stock.
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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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