SunPower Corporation (SPWR) PT Set at $12.00 by Cowen and Company
SunPower Corporation (NASDAQ:SPWR) has been assigned a $12.00 target price by investment analysts at Cowen and Company in a report released on Friday. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Cowen and Company’s price objective points to a potential upside of 29.10% from the stock’s current price.
SPWR has been the subject of a number of other research reports. Zacks Investment Research upgraded SunPower Corporation from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Monday, August 7th. Axiom Securities reiterated a “buy” rating on shares of SunPower Corporation in a research note on Saturday, July 22nd. Vetr upgraded SunPower Corporation from a “buy” rating to a “strong-buy” rating and set a $12.52 price objective for the company in a research note on Tuesday, July 18th. BidaskClub upgraded SunPower Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, Deutsche Bank AG lifted their price objective on SunPower Corporation from $6.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. SunPower Corporation has a consensus rating of “Hold” and a consensus target price of $9.57.
Shares of SunPower Corporation (NASDAQ SPWR) traded up 3.79% during mid-day trading on Friday, hitting $9.30. The company had a trading volume of 2,439,021 shares. SunPower Corporation has a 1-year low of $5.84 and a 1-year high of $11.70. The company has a 50-day moving average price of $9.87 and a 200-day moving average price of $7.90. The company’s market capitalization is $1.30 billion.
SunPower Corporation (NASDAQ:SPWR) last issued its earnings results on Tuesday, August 1st. The semiconductor company reported ($0.39) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.24. The company had revenue of $341.50 million during the quarter, compared to analyst estimates of $312.58 million. SunPower Corporation had a negative return on equity of 12.56% and a negative net margin of 21.84%. The firm’s quarterly revenue was down 15.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.22) EPS. On average, equities analysts anticipate that SunPower Corporation will post ($0.98) EPS for the current year.
Several large investors have recently bought and sold shares of SPWR. CAPROCK Group Inc. boosted its stake in SunPower Corporation by 1.1% in the second quarter. CAPROCK Group Inc. now owns 11,941 shares of the semiconductor company’s stock worth $112,000 after buying an additional 128 shares during the period. TFS Capital LLC acquired a new stake in SunPower Corporation during the first quarter worth approximately $126,000. Raymond James Financial Services Advisors Inc. boosted its stake in SunPower Corporation by 109.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,354 shares of the semiconductor company’s stock worth $130,000 after buying an additional 11,159 shares during the period. Candriam Luxembourg S.C.A. acquired a new stake in SunPower Corporation during the second quarter worth approximately $130,000. Finally, Quantbot Technologies LP boosted its stake in SunPower Corporation by 340.9% in the second quarter. Quantbot Technologies LP now owns 15,986 shares of the semiconductor company’s stock worth $149,000 after buying an additional 12,360 shares during the period. Hedge funds and other institutional investors own 25.61% of the company’s stock.
SunPower Corporation 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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