SunPower (NASDAQ:SPWR) had its price objective hoisted by analysts at Bank of America from $8.00 to $8.50 in a research report issued to clients and investors on Wednesday. The firm presently has a “neutral” rating on the semiconductor company’s stock. Bank of America’s price target suggests a potential downside of 7.81% from the company’s previous close.
SPWR has been the subject of a number of other research reports. BidaskClub upgraded SunPower from a “strong sell” rating to a “sell” rating in a research note on Wednesday, March 21st. ValuEngine upgraded SunPower from a “strong sell” rating to a “sell” rating in a research note on Monday, April 2nd. Cowen reaffirmed a “buy” rating and set a $10.00 target price on shares of SunPower in a report on Thursday, February 15th. Credit Suisse Group began coverage on SunPower in a report on Monday, February 12th. They set a “neutral” rating and a $7.20 target price on the stock. Finally, UBS downgraded SunPower from an “outperform” rating to a “market perform” rating in a report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $8.97.
NASDAQ SPWR traded up $0.87 during mid-day trading on Wednesday, reaching $9.22. 6,244,784 shares of the company’s stock traded hands, compared to its average volume of 2,750,802. SunPower has a 1-year low of $6.46 and a 1-year high of $11.70. The company has a quick ratio of 0.91, a current ratio of 1.23 and a debt-to-equity ratio of 5.05. The firm has a market cap of $1,136.64, a PE ratio of -22.49 and a beta of 2.58.
SunPower (NASDAQ:SPWR) last issued its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.34. SunPower had a negative return on equity of 8.74% and a negative net margin of 45.47%. The firm had revenue of $824.00 million during the quarter, compared to analyst estimates of $796.62 million. During the same quarter last year, the firm earned ($0.64) EPS. SunPower’s quarterly revenue was down 24.9% on a year-over-year basis. analysts anticipate that SunPower will post -1.29 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in SPWR. Clarus Wealth Advisors bought a new stake in SunPower during the 4th quarter valued at $148,000. MUFG Securities EMEA plc bought a new stake in SunPower during the 4th quarter valued at $163,000. Teacher Retirement System of Texas bought a new stake in SunPower during the 4th quarter valued at $184,000. Legal & General Group Plc raised its stake in SunPower by 44.1% during the 3rd quarter. Legal & General Group Plc now owns 26,295 shares of the semiconductor company’s stock valued at $192,000 after acquiring an additional 8,050 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new stake in SunPower during the 4th quarter valued at $207,000. 27.05% of the stock is currently owned by institutional investors and hedge funds.
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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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