SunPower (SPWR) Price Target Raised to $8.50

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.

ILLEGAL ACTIVITY NOTICE: “SunPower (SPWR) Price Target Raised to $8.50” was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.dispatchtribunal.com/2018/04/21/sunpower-spwr-price-target-raised-to-8-50.html.

About SunPower

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.

Analyst Recommendations for SunPower (NASDAQ:SPWR)

Receive News & Ratings for SunPower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunPower and related companies with MarketBeat.com's FREE daily email newsletter.




Leave a Reply