Credit Suisse Group downgraded shares of SunPower (NASDAQ:SPWR) from an outperform rating to a neutral rating in a report issued on Friday, February 15th, The Fly reports. They currently have $7.00 price objective on the semiconductor company’s stock, down from their previous price objective of $10.00.
Other analysts have also recently issued research reports about the company. BidaskClub cut SunPower from a sell rating to a strong sell rating in a report on Saturday, December 8th. Bank of America cut SunPower from a neutral rating to an underperform rating and set a $6.00 target price for the company. in a report on Friday, February 15th. Zacks Investment Research upgraded SunPower from a hold rating to a buy rating and set a $6.25 target price for the company in a report on Wednesday, January 9th. Barclays began coverage on SunPower in a report on Monday, January 7th. They set an underweight rating and a $4.00 target price for the company. Finally, ValuEngine upgraded SunPower from a sell rating to a hold rating in a report on Monday, February 4th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. SunPower has a consensus rating of Hold and a consensus price target of $7.16.
SPWR stock traded up $0.14 during trading on Friday, hitting $6.53. The stock had a trading volume of 1,154,457 shares, compared to its average volume of 1,728,521. SunPower has a 1-year low of $4.55 and a 1-year high of $10.00. The company has a market capitalization of $885.06 million, a price-to-earnings ratio of -7.42 and a beta of 2.24. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 39.39.
SunPower (NASDAQ:SPWR) last posted its quarterly earnings data on Wednesday, February 13th. The semiconductor company reported ($0.25) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.38) by $0.13. SunPower had a negative net margin of 46.99% and a negative return on equity of 83.67%. The company had revenue of $525.40 million during the quarter, compared to the consensus estimate of $566.06 million. During the same quarter in the prior year, the company posted $0.25 EPS. The company’s quarterly revenue was down 36.2% compared to the same quarter last year. As a group, research analysts predict that SunPower will post -1.11 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in SPWR. Norges Bank purchased a new position in shares of SunPower during the 4th quarter valued at approximately $5,873,000. Vanguard Group Inc boosted its stake in shares of SunPower by 10.2% during the 3rd quarter. Vanguard Group Inc now owns 6,265,071 shares of the semiconductor company’s stock valued at $45,735,000 after buying an additional 580,984 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of SunPower by 10.2% during the 3rd quarter. Vanguard Group Inc. now owns 6,265,071 shares of the semiconductor company’s stock valued at $45,735,000 after buying an additional 580,984 shares during the last quarter. Rock Point Advisors LLC boosted its stake in shares of SunPower by 46.7% during the 3rd quarter. Rock Point Advisors LLC now owns 596,940 shares of the semiconductor company’s stock valued at $4,358,000 after buying an additional 189,990 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of SunPower during the 2nd quarter valued at approximately $1,329,000. Institutional investors own 27.27% of the company’s stock.
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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