SunPower Co. (NASDAQ:SPWR) has been assigned an average recommendation of “Hold” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $7.11.
Several research analysts recently weighed in on SPWR shares. Zacks Investment Research upgraded SunPower from a “strong sell” rating to a “buy” rating and set a $8.25 price objective for the company in a research report on Tuesday, April 16th. BidaskClub upgraded SunPower from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. ValuEngine upgraded SunPower from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. started coverage on SunPower in a research report on Thursday, April 11th. They issued a “neutral” rating and a $7.50 price objective for the company. Finally, Credit Suisse Group lowered SunPower from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $10.00 to $7.00 in a research report on Friday, February 15th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in shares of SunPower by 40.4% during the fourth quarter. Rhumbline Advisers now owns 90,729 shares of the semiconductor company’s stock worth $451,000 after buying an additional 26,089 shares during the period. Canal Insurance CO purchased a new position in shares of SunPower during the fourth quarter worth $298,000. Vanguard Group Inc boosted its position in shares of SunPower by 10.2% during the third quarter. Vanguard Group Inc now owns 6,265,071 shares of the semiconductor company’s stock worth $45,735,000 after buying an additional 580,984 shares during the period. MetLife Investment Advisors LLC boosted its position in shares of SunPower by 55.4% during the third quarter. MetLife Investment Advisors LLC now owns 48,884 shares of the semiconductor company’s stock worth $357,000 after buying an additional 17,431 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of SunPower by 75.1% during the fourth quarter. SG Americas Securities LLC now owns 25,935 shares of the semiconductor company’s stock worth $129,000 after buying an additional 11,124 shares during the period. Institutional investors and hedge funds own 27.09% of the company’s stock.
SPWR stock opened at $7.22 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.52 and a debt-to-equity ratio of 39.39. The company has a market capitalization of $1.06 billion, a PE ratio of -8.20 and a beta of 2.30. SunPower has a 1 year low of $4.55 and a 1 year high of $9.60.
SunPower (NASDAQ:SPWR) last issued its quarterly earnings data on Wednesday, February 13th. The semiconductor company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.13. The company had revenue of $525.40 million during the quarter, compared to analyst estimates of $566.06 million. SunPower had a negative return on equity of 83.67% and a negative net margin of 46.99%. The firm’s revenue for the quarter was down 36.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. Equities research analysts predict that SunPower will post -0.89 EPS for the current fiscal year.
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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