Mizuho Cuts SunPower (NASDAQ:SPWR) Price Target to $4.00

SunPower (NASDAQ:SPWR) had its price target lowered by Mizuho from $5.00 to $4.00 in a research note published on Friday, Benzinga reports. Mizuho currently has a neutral rating on the semiconductor company’s stock.

Other equities analysts have also recently issued reports about the company. UBS Group raised their price objective on SunPower from $4.00 to $4.25 and gave the stock a neutral rating in a research note on Friday, February 16th. Citigroup dropped their target price on SunPower from $3.00 to $2.50 and set a sell rating on the stock in a research report on Thursday, March 28th. Raymond James lowered SunPower from an outperform rating to a market perform rating in a research report on Thursday, January 4th. Guggenheim lowered SunPower from a neutral rating to a sell rating in a research report on Friday, February 16th. Finally, StockNews.com raised SunPower to a sell rating in a research report on Saturday, December 23rd. Ten equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $4.76.

SunPower Trading Down 3.2 %

SunPower stock opened at $2.14 on Friday. The stock has a market cap of $375.27 million, a P/E ratio of -1.56 and a beta of 1.73. The stock has a 50 day moving average of $2.93 and a 200-day moving average of $3.83. SunPower has a 52 week low of $2.14 and a 52 week high of $14.49.

SunPower (NASDAQ:SPWR) last released its earnings results on Thursday, February 15th. The semiconductor company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.24). The business had revenue of $356.91 million for the quarter, compared to analysts’ expectations of $364.58 million. SunPower had a negative net margin of 14.15% and a negative return on equity of 40.95%. As a group, equities analysts predict that SunPower will post -0.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SunPower

A number of institutional investors have recently bought and sold shares of SPWR. Vanguard Group Inc. lifted its holdings in shares of SunPower by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,443,481 shares of the semiconductor company’s stock valued at $58,266,000 after buying an additional 145,367 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of SunPower by 18.8% in the 3rd quarter. Schroder Investment Management Group now owns 8,082,152 shares of the semiconductor company’s stock valued at $49,867,000 after acquiring an additional 1,279,226 shares in the last quarter. Invesco Ltd. raised its stake in shares of SunPower by 12.7% in the 3rd quarter. Invesco Ltd. now owns 4,726,404 shares of the semiconductor company’s stock valued at $29,162,000 after acquiring an additional 531,800 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of SunPower by 193.0% in the 4th quarter. Federated Hermes Inc. now owns 1,708,133 shares of the semiconductor company’s stock valued at $8,250,000 after acquiring an additional 1,125,231 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of SunPower by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 681,079 shares of the semiconductor company’s stock valued at $4,202,000 after acquiring an additional 33,270 shares in the last quarter. 47.36% of the stock is currently owned by institutional investors and hedge funds.

About SunPower

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions primarily in the United States and Canada. Its solutions include the Equinox and SunVault systems which are pre-engineered modular solutions for residential applications that combine solar module technology with integrated plug-and-play power stations, cable management systems, and mounting hardware that enable dealers and installers to complete system installations, as well as for end customers to manage their energy production.