ValuEngine upgraded shares of SunPower (NASDAQ:SPWR) from a sell rating to a hold rating in a report issued on Thursday.
SPWR has been the subject of several other research reports. BidaskClub raised shares of SunPower from a strong sell rating to a sell rating in a research report on Wednesday, March 21st. Cowen reiterated a buy rating and set a $10.00 price objective on shares of SunPower in a research note on Thursday, February 15th. Bank of America boosted their price objective on shares of SunPower from $8.00 to $8.50 and gave the stock a neutral rating in a research note on Wednesday, April 18th. Credit Suisse Group assumed coverage on shares of SunPower in a research note on Monday, February 12th. They set a neutral rating and a $7.20 price objective for the company. Finally, UBS downgraded shares of SunPower from an outperform rating to a market perform rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $9.09.
SunPower traded down $0.12, hitting $9.17, on Thursday, Marketbeat Ratings reports. 1,148,457 shares of the company were exchanged, compared to its average volume of 2,633,330. SunPower has a twelve month low of $9.15 and a twelve month high of $9.41. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.88 and a current ratio of 1.25. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -22.35 and a beta of 2.54.
SunPower (NASDAQ:SPWR) last issued its quarterly earnings results on Tuesday, May 8th. The semiconductor company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.13. SunPower had a negative net margin of 44.66% and a negative return on equity of 6.37%. The firm had revenue of $398.90 million during the quarter, compared to analyst estimates of $369.63 million. During the same quarter in the prior year, the business posted ($0.36) earnings per share. SunPower’s revenue for the quarter was down 7.1% compared to the same quarter last year. equities analysts forecast that SunPower will post -1.99 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its stake in SunPower by 9.6% during the fourth quarter. First Trust Advisors LP now owns 152,750 shares of the semiconductor company’s stock worth $1,288,000 after buying an additional 13,346 shares during the period. Two Sigma Investments LP purchased a new position in shares of SunPower in the fourth quarter valued at $1,967,000. MANA Advisors LLC purchased a new position in shares of SunPower in the fourth quarter valued at $301,000. Impax Asset Management LTD boosted its stake in shares of SunPower by 0.8% in the fourth quarter. Impax Asset Management LTD now owns 3,102,774 shares of the semiconductor company’s stock valued at $26,156,000 after purchasing an additional 24,878 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of SunPower by 4.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 261,201 shares of the semiconductor company’s stock valued at $2,202,000 after purchasing an additional 11,700 shares during the period. Institutional investors own 27.08% of the company’s stock.
SunPower Company Profile
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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