SunPower Corporation (SPWR) Raised to “Hold” at ValuEngine
ValuEngine upgraded shares of SunPower Corporation (NASDAQ:SPWR) from a sell rating to a hold rating in a report published on Saturday morning.
Several other equities research analysts also recently weighed in on SPWR. Deutsche Bank AG increased their price target on SunPower Corporation from $6.00 to $9.00 and gave the stock a hold rating in a report on Wednesday, August 2nd. BidaskClub downgraded SunPower Corporation from a buy rating to a hold rating in a report on Tuesday, July 25th. Morgan Stanley downgraded SunPower Corporation from an equal weight rating to an underweight rating and decreased their price target for the stock from $7.22 to $6.00 in a report on Wednesday, September 27th. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and set a $13.00 price target (up from $10.00) on shares of SunPower Corporation in a report on Wednesday, August 2nd. Finally, Bank of America Corporation reduced their target price on SunPower Corporation from $12.00 to $10.00 and set a neutral rating for the company in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. SunPower Corporation presently has a consensus rating of Hold and an average target price of $9.29.
Shares of SunPower Corporation (NASDAQ:SPWR) opened at $8.59 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.02 and a current ratio of 1.41. SunPower Corporation has a fifty-two week low of $5.84 and a fifty-two week high of $11.70.
SunPower Corporation (NASDAQ:SPWR) last issued its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.60. SunPower Corporation had a negative return on equity of 20.81% and a negative net margin of 24.91%. The firm had revenue of $477.20 million during the quarter, compared to the consensus estimate of $383.76 million. During the same period last year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was down 34.6% on a year-over-year basis. research analysts predict that SunPower Corporation will post -1.41 earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in the company. CAPROCK Group Inc. raised its stake in shares of SunPower Corporation by 1.1% during the 2nd 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 last quarter. WFG Advisors LP raised its stake in shares of SunPower Corporation by 7.6% during the 2nd quarter. WFG Advisors LP now owns 15,550 shares of the semiconductor company’s stock worth $145,000 after buying an additional 1,100 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of SunPower Corporation by 8.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 23,084 shares of the semiconductor company’s stock worth $216,000 after buying an additional 1,730 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of SunPower Corporation by 2.3% during the 2nd quarter. Van ECK Associates Corp now owns 114,172 shares of the semiconductor company’s stock worth $1,066,000 after buying an additional 2,599 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of SunPower Corporation by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,390,856 shares of the semiconductor company’s stock worth $12,991,000 after buying an additional 3,841 shares during the last quarter. 28.41% of the stock is owned by institutional investors and hedge funds.
About SunPower Corporation
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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