SunPower Corporation (NASDAQ:SPWR) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Saturday, November 4th.
A number of other analysts also recently commented on SPWR. Vetr downgraded SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $11.45 price objective on the stock. 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 report on Monday, July 10th. Macquarie downgraded SunPower Corporation from an “outperform” rating to a “neutral” rating in a report on Friday, September 8th. Zacks Investment Research cut SunPower Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, BidaskClub raised SunPower Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $9.34.
Shares of SunPower Corporation (NASDAQ SPWR) opened at $8.12 on Friday. SunPower Corporation has a 12 month low of $5.84 and a 12 month high of $11.70. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 1.71.
SunPower Corporation (NASDAQ:SPWR) last issued its earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.39) by $0.60. The company had revenue of $477.20 million during the quarter, compared to analyst estimates of $383.76 million. SunPower Corporation had a negative return on equity of 20.81% and a negative net margin of 24.91%. The business’s revenue was down 34.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS. analysts anticipate that SunPower Corporation will post -0.77 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of SunPower Corporation by 13.8% in the second quarter. Vanguard Group Inc. now owns 4,922,577 shares of the semiconductor company’s stock worth $45,977,000 after purchasing an additional 598,221 shares during the last quarter. Northern Trust Corp raised its holdings in shares of SunPower Corporation by 141.3% in the 2nd quarter. Northern Trust Corp now owns 845,237 shares of the semiconductor company’s stock worth $7,894,000 after acquiring an additional 494,979 shares during the last quarter. Quentec Asset Management LLC acquired a new stake in shares of SunPower Corporation in the 3rd quarter worth about $3,208,000. GAM Holding AG grew its position in SunPower Corporation by 970.8% in the 2nd quarter. GAM Holding AG now owns 428,311 shares of the semiconductor company’s stock worth $4,000,000 after purchasing an additional 388,311 shares in the last quarter. Finally, Impax Asset Management LTD grew its position in SunPower Corporation by 13.6% in the 3rd quarter. Impax Asset Management LTD now owns 3,077,896 shares of the semiconductor company’s stock worth $22,438,000 after purchasing an additional 367,582 shares in the last quarter. Institutional investors and hedge funds own 27.90% of the company’s stock.
About SunPower Corporation
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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