SunPower (NASDAQ:SPWR) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Friday.

Several other equities research analysts have also recently weighed in on the stock. Macquarie cut shares of SunPower from an “outperform” rating to a “neutral” rating in a research report on Friday, September 8th. Zacks Investment Research cut shares of SunPower from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Cowen set a $12.00 price objective on shares of SunPower and gave the company a “buy” rating in a research report on Friday, August 11th. Robert W. Baird restated a “hold” rating and issued a $7.00 price objective on shares of SunPower in a research report on Friday, September 1st. Finally, Bank of America lowered their price objective on shares of SunPower from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $9.34.

Shares of SunPower (NASDAQ:SPWR) traded down $0.39 during trading on Friday, hitting $7.87. 4,090,000 shares of the company were exchanged, compared to its average volume of 2,756,291. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 1.71. SunPower has a 1-year low of $5.84 and a 1-year high of $11.70.

SunPower (NASDAQ:SPWR) last announced its earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.60. The business had revenue of $477.20 million during the quarter, compared to analysts’ expectations of $383.76 million. SunPower had a negative net margin of 24.91% and a negative return on equity of 20.81%. The firm’s revenue for the quarter was down 34.6% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. equities research analysts forecast that SunPower will post -0.77 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in SunPower by 13.8% during the 2nd quarter. Vanguard Group Inc. now owns 4,922,577 shares of the semiconductor company’s stock worth $45,977,000 after acquiring an additional 598,221 shares during the last quarter. Impax Asset Management LTD boosted its stake in SunPower by 13.6% during the 3rd quarter. Impax Asset Management LTD now owns 3,077,896 shares of the semiconductor company’s stock worth $22,438,000 after acquiring an additional 367,582 shares during the last quarter. State Street Corp boosted its stake in SunPower by 14.0% during the 2nd quarter. State Street Corp now owns 2,421,834 shares of the semiconductor company’s stock worth $22,619,000 after acquiring an additional 296,862 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in SunPower 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 acquiring an additional 3,841 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in SunPower by 3.8% during the 3rd quarter. California Public Employees Retirement System now owns 859,292 shares of the semiconductor company’s stock worth $6,264,000 after acquiring an additional 31,392 shares during the last quarter. 25.63% of the stock is currently owned by institutional investors and hedge funds.

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About SunPower

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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Analyst Recommendations for SunPower (NASDAQ:SPWR)

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