SunPower (SPWR) PT Lowered to $7.50 at JPMorgan Chase & Co.

SunPower (NASDAQ:SPWR) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $8.00 to $7.50 in a research report issued on Thursday. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. JPMorgan Chase & Co.’s price objective indicates a potential upside of 0.27% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Robert W. Baird raised shares of SunPower from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $7.00 to $10.00 in a report on Monday, December 11th. BidaskClub raised shares of SunPower from a “hold” rating to a “buy” rating in a report on Tuesday, December 19th. Bank of America initiated coverage on shares of SunPower in a report on Saturday, December 30th. They set a “neutral” rating for the company. Guggenheim reaffirmed a “hold” rating on shares of SunPower in a report on Thursday, January 18th. Finally, ValuEngine raised shares of SunPower from a “sell” rating to a “hold” rating in a report on Saturday, November 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $9.42.

SunPower (SPWR) traded up $0.10 during trading hours on Thursday, hitting $7.48. 3,753,500 shares of the stock traded hands, compared to its average volume of 3,286,983. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.02 and a current ratio of 1.41. The stock has a market cap of $942.81, a price-to-earnings ratio of -1.86 and a beta of 2.73. SunPower has a 52-week low of $5.84 and a 52-week high of $11.70.

SunPower (NASDAQ:SPWR) last posted its earnings results on Wednesday, February 14th. The semiconductor company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.13. The firm had revenue of $824.00 million during the quarter, compared to analyst estimates of $796.62 million. SunPower had a negative net margin of 24.91% and a negative return on equity of 20.81%. The business’s quarterly revenue was down 24.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.64) EPS. equities research analysts forecast that SunPower will post -0.77 EPS for the current year.

In related news, Director Catherine A. Lesjak sold 23,632 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $7.50, for a total value of $177,240.00. Following the completion of the sale, the director now owns 55,924 shares of the company’s stock, valued at approximately $419,430. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.92% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. WFG Advisors LP increased its holdings in SunPower by 7.6% in the 2nd quarter. WFG Advisors LP now owns 15,550 shares of the semiconductor company’s stock worth $145,000 after acquiring an additional 1,100 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in SunPower by 8.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 23,084 shares of the semiconductor company’s stock worth $216,000 after acquiring an additional 1,730 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in SunPower by 0.3% in 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 in the last quarter. Alliancebernstein L.P. increased its holdings in SunPower by 13.6% in the 2nd quarter. Alliancebernstein L.P. now owns 46,900 shares of the semiconductor company’s stock worth $438,000 after acquiring an additional 5,610 shares in the last quarter. Finally, Shelton Capital Management increased its holdings in SunPower by 10.8% in the 3rd quarter. Shelton Capital Management now owns 70,000 shares of the semiconductor company’s stock worth $510,000 after acquiring an additional 6,800 shares in the last quarter. 26.15% of the stock is owned by institutional investors.

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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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