SunPower (SPWR) Coverage Initiated by Analysts at Credit Suisse Group

Equities researchers at Credit Suisse Group assumed coverage on shares of SunPower (NASDAQ:SPWR) in a report released on Monday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $7.20 price target on the semiconductor company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 4.50% from the stock’s current price.

Several other research analysts also recently issued reports on SPWR. BidaskClub upgraded shares of SunPower from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. Bank of America set a $10.00 target price on shares of SunPower and gave the stock a “hold” rating in a research note on Thursday, December 28th. ValuEngine upgraded shares of SunPower from a “sell” rating to a “hold” rating in a research note on Saturday, November 4th. Guggenheim reiterated a “hold” rating on shares of SunPower in a research note on Thursday, January 18th. Finally, Zacks Investment Research downgraded shares of SunPower from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. SunPower has an average rating of “Hold” and a consensus target price of $9.97.

SunPower (SPWR) traded up $0.04 during trading hours on Monday, reaching $6.89. 2,567,359 shares of the company traded hands, compared to its average volume of 3,270,000. SunPower has a 1-year low of $5.84 and a 1-year high of $11.70. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.41 and a quick ratio of 1.02. The company has a market capitalization of $961.65, a price-to-earnings ratio of -1.71 and a beta of 2.73.

In other news, Director Catherine A. Lesjak sold 23,632 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $7.50, for a total transaction of $177,240.00. Following the completion of the transaction, the director now directly owns 55,924 shares of the company’s stock, valued at $419,430. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP raised its holdings in shares of SunPower by 9.6% during the fourth quarter. First Trust Advisors LP now owns 152,750 shares of the semiconductor company’s stock valued at $1,288,000 after purchasing an additional 13,346 shares during the last quarter. KBC Group NV raised its holdings in shares of SunPower by 13.5% during the fourth quarter. KBC Group NV now owns 73,037 shares of the semiconductor company’s stock valued at $616,000 after purchasing an additional 8,711 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of SunPower by 4.3% during the fourth quarter. California Public Employees Retirement System now owns 895,903 shares of the semiconductor company’s stock valued at $7,552,000 after purchasing an additional 36,611 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of SunPower during the fourth quarter valued at approximately $184,000. Finally, Clarus Wealth Advisors purchased a new position in shares of SunPower during the fourth quarter valued at approximately $148,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This article was originally published by American Banking News and is the property of of American Banking News. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://www.americanbankingnews.com/2018/02/12/sunpower-spwr-coverage-initiated-by-analysts-at-credit-suisse-group.html.

SunPower 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.

Analyst Recommendations for SunPower (NASDAQ:SPWR)

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

Leave a Reply