SunPower Corporation (NASDAQ:SPWR)‘s stock had its “buy” rating reaffirmed by stock analysts at Axiom Securities in a research report issued on Saturday, July 22nd.
A number of other equities analysts also recently weighed in on the company. Cowen and Company set a $12.00 price target on SunPower Corporation and gave the stock a “buy” rating in a research report on Monday, July 10th. Zacks Investment Research raised SunPower Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 18th. Vetr downgraded SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $11.45 price target for the company. in a research report on Monday, July 17th. ValuEngine raised SunPower Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, BidaskClub raised SunPower Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $9.57.
SunPower Corporation (SPWR) opened at 9.33 on Friday. SunPower Corporation has a 12 month low of $5.84 and a 12 month high of $11.70. The company’s 50-day moving average is $9.82 and its 200 day moving average is $7.88. The firm’s market cap is $1.30 billion.
SunPower Corporation (NASDAQ:SPWR) last released its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.24. SunPower Corporation had a negative return on equity of 12.56% and a negative net margin of 21.84%. The firm had revenue of $341.50 million during the quarter, compared to the consensus estimate of $312.58 million. During the same quarter in the prior year, the firm posted ($0.22) EPS. The business’s revenue was down 15.0% on a year-over-year basis. On average, equities research analysts predict that SunPower Corporation will post ($0.98) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its position in 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 last quarter. State Street Corp boosted its position in 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 last quarter. AQR Capital Management LLC boosted its position in 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 last quarter. Teachers Advisors LLC boosted its position in 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 last quarter. Finally, Merriman Wealth Management LLC purchased a new position in SunPower Corporation during the first quarter valued at $122,000. Hedge funds and other institutional investors own 25.61% of the company’s stock.
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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