SunPower Corporation (NASDAQ:SPWR)‘s stock had its “buy” rating reissued by investment analysts at Cowen and Company in a note issued to investors on Sunday. They currently have a $12.00 price objective on the semiconductor company’s stock. Cowen and Company’s target price suggests a potential upside of 43.03% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded SunPower Corporation from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Monday, August 7th. BidaskClub upgraded SunPower Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Vetr downgraded SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $11.45 price target on the stock. in a report on Monday, July 17th. Axiom Securities restated a “buy” rating on shares of SunPower Corporation in a report on Saturday, July 22nd. Finally, Robert W. Baird restated a “hold” rating and set a $7.00 price target on shares of SunPower Corporation in a report on Friday, September 1st. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. SunPower Corporation presently has a consensus rating of “Hold” and a consensus price target of $9.48.

Shares of SunPower Corporation (NASDAQ SPWR) opened at 8.39 on Friday. The company’s 50-day moving average price is $9.25 and its 200-day moving average price is $8.19. The company’s market cap is $1.17 billion. SunPower Corporation has a 12 month low of $5.84 and a 12 month high of $11.70.

SunPower Corporation (NASDAQ:SPWR) last issued its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported ($0.39) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.24. SunPower Corporation had a negative return on equity of 12.56% and a negative net margin of 21.84%. The company had revenue of $341.50 million for the quarter, compared to the consensus estimate of $312.58 million. During the same quarter in the prior year, the business earned ($0.22) EPS. SunPower Corporation’s revenue was down 15.0% on a year-over-year basis. Equities analysts forecast that SunPower Corporation will post ($0.99) EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was first posted by American Banking News and is the property of of American Banking News. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/09/17/sunpower-corporation-spwr-earns-buy-rating-from-cowen-and-company.html.

Large investors have recently added to or reduced their stakes in the company. Delta Lloyd Asset Management N.V. acquired a new position in shares of SunPower Corporation during the 2nd quarter worth about $2,895,000. Karp Capital Management Corp acquired a new position in shares of SunPower Corporation during the 1st quarter worth about $838,000. California Public Employees Retirement System boosted its position in shares of SunPower Corporation by 2.6% during the 1st quarter. California Public Employees Retirement System now owns 683,500 shares of the semiconductor company’s stock worth $4,169,000 after acquiring an additional 17,200 shares in the last quarter. Shelter Mutual Insurance Co boosted its position in shares of SunPower Corporation by 1,018.2% during the 2nd quarter. Shelter Mutual Insurance Co now owns 177,800 shares of the semiconductor company’s stock worth $1,661,000 after acquiring an additional 161,900 shares in the last quarter. Finally, KCG Holdings Inc. boosted its position in shares of SunPower Corporation by 62.0% during the 1st quarter. KCG Holdings Inc. now owns 64,927 shares of the semiconductor company’s stock worth $396,000 after acquiring an additional 24,841 shares in the last quarter. 28.84% 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.

Analyst Recommendations for SunPower Corporation (NASDAQ:SPWR)

Receive News & Ratings for SunPower Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunPower Corporation and related companies with MarketBeat.com's FREE daily email newsletter.