SunPower Corporation (NASDAQ:SPWR) Upgraded to Strong-Buy at Vetr Inc.

Vetr upgraded shares of SunPower Corporation (NASDAQ:SPWR) from a buy rating to a strong-buy rating in a research note released on Tuesday, July 18th. They currently have $12.52 price target on the semiconductor company’s stock.

Several other equities research analysts also recently commented on the company. Zacks Investment Research downgraded SunPower Corporation from a strong-buy rating to a hold rating in a report on Wednesday, July 12th. Cowen and Company set a $12.00 price objective on SunPower Corporation and gave the stock a buy rating in a report on Monday, July 10th. BidaskClub upgraded SunPower Corporation from a hold rating to a buy rating in a report on Tuesday, June 27th. Finally, ValuEngine upgraded SunPower Corporation from a strong sell rating to a sell rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $9.36.

SunPower Corporation (NASDAQ SPWR) opened at 11.35 on Tuesday. The company has a 50 day moving average of $9.37 and a 200-day moving average of $7.73. The stock’s market capitalization is $1.58 billion. SunPower Corporation has a one year low of $5.84 and a one year high of $15.61.

SunPower Corporation (NASDAQ:SPWR) last released its quarterly earnings data on Tuesday, May 9th. The semiconductor company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.13. SunPower Corporation had a negative return on equity of 10.47% and a negative net margin of 20.21%. The company had revenue of $429.50 million during the quarter, compared to the consensus estimate of $388.07 million. During the same period last year, the company earned ($0.30) EPS. SunPower Corporation’s revenue for the quarter was down .9% on a year-over-year basis. Equities research analysts predict that SunPower Corporation will post ($1.08) earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This article was first reported by [[site]] and is the sole property of of [[site]]. If you are reading this article on another publication, it was illegally copied and reposted in violation of international copyright and trademark legislation. The original version of this article can be read at [[permalink]].

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its stake in shares of SunPower Corporation by 3.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 66,822 shares of the semiconductor company’s stock valued at $442,000 after buying an additional 2,130 shares during the period. State Street Corp increased its stake in shares of SunPower Corporation by 26.7% in the fourth quarter. State Street Corp now owns 1,798,903 shares of the semiconductor company’s stock valued at $11,895,000 after buying an additional 379,112 shares during the period. AQR Capital Management LLC increased its stake in shares of SunPower Corporation by 46.1% in the fourth quarter. AQR Capital Management LLC now owns 51,299 shares of the semiconductor company’s stock valued at $339,000 after buying an additional 16,183 shares during the period. Teachers Advisors LLC increased its stake in shares of SunPower Corporation by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 97,906 shares of the semiconductor company’s stock valued at $647,000 after buying an additional 696 shares during the period. Finally, Merriman Wealth Management LLC acquired a new stake in shares of SunPower Corporation during the first quarter valued at about $122,000. 25.51% of the stock is currently owned by hedge funds and other institutional investors.

About SunPower Corporation

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.

To view Vetr’s full report, visit Vetr’s official website.