SunPower Co. (NASDAQ:SPWR) Receives Average Rating of “Hold” from Brokerages

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Shares of SunPower Co. (NASDAQ:SPWR) have been given an average rating of “Hold” by the twelve brokerages that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $9.29.

A number of research firms have recently weighed in on SPWR. Cfra downgraded shares of SunPower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. ValuEngine cut shares of SunPower from a “hold” rating to a “sell” rating in a research report on Sunday, December 1st. BidaskClub downgraded shares of SunPower from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 12th. Credit Suisse Group cut their target price on shares of SunPower from $14.50 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, November 29th. Finally, Goldman Sachs Group set a $14.00 target price on shares of SunPower and gave the company a “buy” rating in a research report on Friday, November 1st.

Hedge funds have recently bought and sold shares of the company. Columbus Circle Investors bought a new stake in SunPower in the third quarter valued at $16,279,000. Vanguard Group Inc. grew its stake in shares of SunPower by 14.2% in the 2nd quarter. Vanguard Group Inc. now owns 7,773,068 shares of the semiconductor company’s stock valued at $83,094,000 after buying an additional 967,577 shares during the period. SG Americas Securities LLC grew its stake in shares of SunPower by 6,600.5% in the 3rd quarter. SG Americas Securities LLC now owns 849,692 shares of the semiconductor company’s stock valued at $9,321,000 after buying an additional 837,011 shares during the period. D. E. Shaw & Co. Inc. increased its position in SunPower by 89.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,093,848 shares of the semiconductor company’s stock valued at $11,694,000 after buying an additional 515,022 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in SunPower in the 2nd quarter valued at about $5,358,000. 32.26% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:SPWR opened at $7.24 on Monday. SunPower has a twelve month low of $4.55 and a twelve month high of $16.04. The stock’s 50-day simple moving average is $8.36 and its 200 day simple moving average is $10.51. The firm has a market capitalization of $1.03 billion, a PE ratio of -8.23 and a beta of 2.20.

SunPower (NASDAQ:SPWR) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.05. The business had revenue of $491.70 million for the quarter, compared to analyst estimates of $475.29 million. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.29) EPS. As a group, sell-side analysts anticipate that SunPower will post -0.61 EPS for the current fiscal year.

SunPower Company Profile

SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.

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Analyst Recommendations for SunPower (NASDAQ:SPWR)

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