SunPower Corporation (NASDAQ:SPWR) has earned a consensus recommendation of “Hold” from the nineteen brokerages that are covering the stock, MarketBeat Ratings reports. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $9.52.
Several research firms have recently commented on SPWR. BidaskClub lowered shares of SunPower Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $13.00 target price (up from $10.00) on shares of SunPower Corporation in a report on Wednesday, August 2nd. Cowen and Company set a $12.00 target price on shares of SunPower Corporation and gave the stock a “buy” rating in a report on Friday, August 11th. ValuEngine raised shares of SunPower Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research lowered shares of SunPower Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th.
Shares of SunPower Corporation (SPWR) traded down 8.81% during trading on Tuesday, reaching $8.59. 6,588,006 shares of the company’s stock were exchanged. SunPower Corporation has a 12 month low of $5.84 and a 12 month high of $11.70. The firm’s market cap is $1.20 billion. The stock has a 50-day moving average price of $9.62 and a 200 day moving average price of $8.20.
SunPower Corporation (NASDAQ:SPWR) last released its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported ($0.39) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.24. SunPower Corporation had a negative net margin of 21.84% and a negative return on equity of 12.56%. The firm had revenue of $341.50 million during the quarter, compared to analyst estimates of $312.58 million. During the same quarter in the prior year, the firm earned ($0.22) EPS. The business’s revenue for the quarter was down 15.0% compared to the same quarter last year. On average, analysts forecast that SunPower Corporation will post ($0.98) EPS for the current year.
A number of hedge funds have recently bought and sold shares of SPWR. Vanguard Group Inc. boosted its stake in SunPower Corporation by 13.8% in the 2nd quarter. Vanguard Group Inc. now owns 4,922,577 shares of the semiconductor company’s stock worth $45,977,000 after purchasing an additional 598,221 shares during the period. Northern Trust Corp boosted its stake in SunPower Corporation by 141.3% in the 2nd quarter. Northern Trust Corp now owns 845,237 shares of the semiconductor company’s stock worth $7,894,000 after purchasing an additional 494,979 shares during the period. GAM Holding AG boosted its stake in SunPower Corporation by 970.8% in the 2nd quarter. GAM Holding AG now owns 428,311 shares of the semiconductor company’s stock worth $4,000,000 after purchasing an additional 388,311 shares during the period. Delta Lloyd Asset Management N.V. bought a new position in SunPower Corporation in the 2nd quarter worth approximately $2,895,000. Finally, State Street Corp boosted its stake in SunPower Corporation by 14.0% in the 2nd quarter. State Street Corp now owns 2,421,834 shares of the semiconductor company’s stock worth $22,619,000 after purchasing an additional 296,862 shares during the period. Institutional investors and hedge funds own 28.84% of the company’s stock.
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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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