SunPower Corporation (SPWR) Rating Increased to Hold at ValuEngine
SunPower Corporation (NASDAQ:SPWR) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
A number of other research firms also recently weighed in on SPWR. Vetr cut shares of SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $12.52 price target for the company. in a research note on Monday, July 31st. Zacks Investment Research cut shares of SunPower Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Bank of America Corporation cut their price target on shares of SunPower Corporation from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, September 26th. Morgan Stanley cut shares of SunPower Corporation from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $7.22 to $6.00 in a research note on Wednesday, September 27th. Finally, Cowen and Company set a $12.00 price target on shares of SunPower Corporation and gave the company a “buy” rating in a research note on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. SunPower Corporation has a consensus rating of “Hold” and an average target price of $9.29.
Shares of SunPower Corporation (SPWR) traded up $1.51 during trading hours on Friday, reaching $8.64. 5,905,998 shares of the company’s stock traded hands, compared to its average volume of 2,938,358. The company has a quick ratio of 1.06, a current ratio of 1.45 and a debt-to-equity ratio of 1.58.
SunPower Corporation (NASDAQ:SPWR) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.60. SunPower Corporation had a negative net margin of 24.91% and a negative return on equity of 20.08%. The company had revenue of $477.20 million during the quarter, compared to the consensus estimate of $383.76 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The firm’s revenue was down 34.6% compared to the same quarter last year. equities research analysts forecast that SunPower Corporation will post -1.41 EPS for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in SPWR. Vanguard Group Inc. grew its holdings in shares of SunPower Corporation by 13.8% during the 2nd quarter. Vanguard Group Inc. now owns 4,922,577 shares of the semiconductor company’s stock valued at $45,977,000 after purchasing an additional 598,221 shares during the last quarter. Northern Trust Corp grew its holdings in shares of SunPower Corporation by 141.3% during the 2nd quarter. Northern Trust Corp now owns 845,237 shares of the semiconductor company’s stock valued at $7,894,000 after purchasing an additional 494,979 shares during the last quarter. GAM Holding AG grew its holdings in shares of SunPower Corporation by 970.8% during the 2nd quarter. GAM Holding AG now owns 428,311 shares of the semiconductor company’s stock valued at $4,000,000 after purchasing an additional 388,311 shares during the last quarter. Delta Lloyd Asset Management N.V. bought a new stake in shares of SunPower Corporation during the 2nd quarter valued at approximately $2,895,000. Finally, State Street Corp grew its holdings in shares of SunPower Corporation by 14.0% during the 2nd quarter. State Street Corp now owns 2,421,834 shares of the semiconductor company’s stock valued at $22,619,000 after purchasing an additional 296,862 shares during the last quarter. 28.41% of the stock is currently owned by hedge funds and other institutional investors.
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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