SunPower Corporation (NASDAQ:SPWR) has been assigned a consensus rating of “Hold” from the twenty-three ratings firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $9.45.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of SunPower Corporation from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Monday. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $13.00 price target (up previously from $10.00) on shares of SunPower Corporation in a research report on Wednesday, August 2nd. BidaskClub raised shares of SunPower Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Deutsche Bank AG raised their price target on shares of SunPower Corporation from $6.00 to $9.00 and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Finally, Vetr downgraded shares of SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $12.52 price target for the company. in a research report on Monday, July 31st.
Shares of SunPower Corporation (NASDAQ:SPWR) opened at 9.76 on Monday. The firm’s 50-day moving average price is $9.56 and its 200-day moving average price is $7.79. The company’s market capitalization is $1.36 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 earnings results on Tuesday, August 1st. The semiconductor company reported ($0.39) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.24. SunPower Corporation had a negative net margin of 21.84% and a negative return on equity of 12.56%. The firm had revenue of $341.50 million during the quarter, compared to analyst estimates of $312.58 million. During the same period last year, the business earned ($0.22) earnings per share. The business’s revenue was down 15.0% on a year-over-year basis. Analysts anticipate that SunPower Corporation will post ($0.98) earnings per share for the current year.
Several large investors have recently modified their holdings of SPWR. CAPROCK Group Inc. increased its stake in shares of SunPower Corporation by 1.1% in the second quarter. CAPROCK Group Inc. now owns 11,941 shares of the semiconductor company’s stock worth $112,000 after buying an additional 128 shares during the last quarter. 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 worth $647,000 after buying an additional 696 shares during the last quarter. BlueCrest Capital Management Ltd increased its stake in shares of SunPower Corporation by 3.6% in the first quarter. BlueCrest Capital Management Ltd now owns 39,563 shares of the semiconductor company’s stock worth $241,000 after buying an additional 1,380 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of SunPower Corporation by 4.0% in the first quarter. Asset Management One Co. Ltd. now owns 48,281 shares of the semiconductor company’s stock worth $295,000 after buying an additional 1,848 shares during the last quarter. Finally, 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 worth $442,000 after buying an additional 2,130 shares during the last quarter. 25.61% of the stock is owned by hedge funds and other institutional investors.
SunPower Corporation Company Profile
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.
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