Shares of SunPower Corporation (NASDAQ:SPWR) have earned a consensus rating of “Hold” from the nineteen ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $9.27.
Several equities analysts have recently issued reports on SPWR shares. Vetr cut SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $11.45 price objective for the company. in a research note on Monday, July 17th. Cowen and Company set a $12.00 target price 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. 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.
TRADEMARK VIOLATION WARNING: This report was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The legal version of this report can be viewed at https://stocknewstimes.com/2017/08/15/brokerages-set-sunpower-corporation-nasdaqspwr-price-target-at-8-99-updated-updated-updated.html.
Institutional investors have recently added to or reduced their stakes in the stock. Karp Capital Management Corp acquired a new position in SunPower Corporation during the first quarter valued at approximately $838,000. Merriman Wealth Management LLC acquired a new position in SunPower Corporation during the first quarter valued at approximately $122,000. California Public Employees Retirement System raised its stake in shares of SunPower Corporation by 2.6% in the first quarter. California Public Employees Retirement System now owns 683,500 shares of the semiconductor company’s stock valued at $4,169,000 after buying an additional 17,200 shares in the last quarter. AQR Capital Management LLC raised 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 in the last quarter. Finally, State Board of Administration of Florida Retirement System raised 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 in the last quarter. Hedge funds and other institutional investors own 25.55% of the company’s stock.
Shares of SunPower Corporation (SPWR) opened at 9.49 on Monday. SunPower Corporation has a 12 month low of $5.84 and a 12 month high of $11.70. The firm’s 50-day moving average is $9.88 and its 200 day moving average is $7.94. The stock’s market cap is $1.32 billion.
SunPower Corporation (NASDAQ:SPWR) last announced its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.24. The business had revenue of $341.50 million during the quarter, compared to analysts’ expectations of $312.58 million. SunPower Corporation had a negative return on equity of 12.56% and a negative net margin of 21.84%. The business’s quarterly revenue was down 15.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.22) EPS. On average, equities analysts predict that SunPower Corporation will post ($0.98) EPS for the current year.
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.
Receive News & Ratings for SunPower Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunPower Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
