SunPower Corporation (NASDAQ:SPWR) was downgraded by stock analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research report issued on Friday, September 8th, MarketBeat reports.
A number of other brokerages also recently commented on SPWR. Deutsche Bank AG raised their target price on shares of SunPower Corporation from $6.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Vetr downgraded shares of SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $12.52 target price on the stock. in a research note on Monday, July 31st. BidaskClub downgraded shares of SunPower Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Axiom Securities reaffirmed a “buy” rating on shares of SunPower Corporation in a research note on Saturday, July 22nd. Finally, Cowen and Company set a $12.00 target price on shares of SunPower Corporation and gave the stock a “buy” rating in a research report on Friday, August 11th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $9.48.
Shares of SunPower Corporation (NASDAQ SPWR) traded down 2.10% during trading on Friday, reaching $8.39. The company had a trading volume of 3,376,968 shares. The stock’s 50-day moving average price is $9.25 and its 200-day moving average price is $8.19. SunPower Corporation has a 52 week low of $5.84 and a 52 week high of $11.70. The company’s market capitalization is $1.17 billion.
SunPower Corporation (NASDAQ:SPWR) last issued its earnings results on Tuesday, August 1st. The semiconductor company reported ($0.39) EPS for the quarter, beating the Zacks’ 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 business had revenue of $341.50 million for the quarter, compared to the consensus estimate of $312.58 million. During the same quarter last year, the firm posted ($0.22) EPS. The business’s revenue for the quarter was down 15.0% compared to the same quarter last year. On average, equities analysts expect that SunPower Corporation will post ($0.99) EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. CAPROCK Group Inc. raised its holdings in shares of SunPower Corporation by 1.1% during the second quarter. CAPROCK Group Inc. now owns 11,941 shares of the semiconductor company’s stock valued at $112,000 after acquiring an additional 128 shares during the period. HighTower Advisors LLC acquired a new stake in shares of SunPower Corporation during the second quarter valued at approximately $124,000. Candriam Luxembourg S.C.A. purchased a new position in SunPower Corporation during the second quarter valued at approximately $130,000. WFG Advisors LP grew its position in SunPower Corporation by 7.6% during the second quarter. WFG Advisors LP now owns 15,550 shares of the semiconductor company’s stock valued at $145,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in SunPower Corporation by 340.9% during the second quarter. Quantbot Technologies LP now owns 15,986 shares of the semiconductor company’s stock valued at $149,000 after purchasing an additional 12,360 shares in the last quarter. Institutional investors and hedge funds own 28.84% 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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