BidaskClub downgraded shares of SunPower (NASDAQ:SPWR) from a hold rating to a sell rating in a report issued on Saturday.
Several other equities research analysts have also recently issued reports on SPWR. ValuEngine cut shares of SunPower from a hold rating to a sell rating in a research report on Friday, September 22nd. Bank of America lowered their price objective on shares of SunPower from $12.00 to $10.00 and set a neutral rating for the company in a research report on Tuesday, September 26th. Morgan Stanley cut shares of SunPower from an equal weight rating to an underweight rating and lowered their price objective for the company from $7.22 to $6.00 in a research report on Wednesday, September 27th. Zacks Investment Research cut shares of SunPower from a buy rating to a hold rating in a research report on Tuesday, October 3rd. Finally, Robert W. Baird raised shares of SunPower from a neutral rating to an outperform rating and boosted their price objective for the company from $7.00 to $10.00 in a research report on Monday, December 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. SunPower currently has an average rating of Hold and an average price target of $9.85.
Shares of SunPower (SPWR) traded up $0.10 during trading hours on Friday, reaching $8.65. 1,450,000 shares of the company traded hands, compared to its average volume of 2,790,000. The company has a market cap of $1,210.00, a P/E ratio of -2.15 and a beta of 3.16. SunPower has a one year low of $5.84 and a one year high of $11.70. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.41 and a quick ratio of 1.02.
SunPower (NASDAQ:SPWR) last issued its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.39) by $0.60. The company had revenue of $477.20 million for the quarter, compared to the consensus estimate of $383.76 million. SunPower had a negative net margin of 24.91% and a negative return on equity of 20.81%. The firm’s revenue was down 34.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS. analysts predict that SunPower will post -0.77 earnings per share for the current fiscal year.
In other news, Director Catherine A. Lesjak sold 23,632 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $7.50, for a total value of $177,240.00. Following the completion of the sale, the director now owns 55,924 shares of the company’s stock, valued at approximately $419,430. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.92% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Quentec Asset Management LLC purchased a new stake in shares of SunPower in the 3rd quarter worth approximately $3,208,000. Northern Trust Corp lifted its position in SunPower by 141.3% during the second quarter. Northern Trust Corp now owns 845,237 shares of the semiconductor company’s stock valued at $7,894,000 after acquiring an additional 494,979 shares during the last quarter. Vanguard Group Inc. lifted its position in SunPower by 13.8% during the second quarter. Vanguard Group Inc. now owns 4,922,577 shares of the semiconductor company’s stock valued at $45,977,000 after acquiring an additional 598,221 shares during the last quarter. Nationwide Fund Advisors purchased a new stake in SunPower during the second quarter valued at approximately $317,000. Finally, The Manufacturers Life Insurance Company lifted its position in SunPower by 1,204.1% during the second quarter. The Manufacturers Life Insurance Company now owns 49,609 shares of the semiconductor company’s stock valued at $463,000 after acquiring an additional 45,805 shares during the last quarter. 25.39% of the stock is owned by hedge funds and other institutional investors.
SunPower 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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