SunPower Co. (SPWR) Receives Consensus Recommendation of “Hold” from Analysts

SunPower Co. (NASDAQ:SPWR) has been assigned an average recommendation of “Hold” from the thirteen research firms that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $8.19.

Several equities research analysts have commented on SPWR shares. ValuEngine lowered SunPower from a “hold” rating to a “sell” rating in a research report on Wednesday, May 23rd. Williams Capital upped their price objective on SunPower from $6.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, May 24th. BidaskClub lowered SunPower from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Credit Suisse Group lowered their price objective on SunPower from $8.50 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, June 7th. Finally, JPMorgan Chase & Co. lowered their price objective on SunPower from $9.50 to $8.50 and set a “neutral” rating on the stock in a research report on Thursday, June 7th.

In other news, EVP Kenneth Lawrence Mahaffey sold 27,964 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $7.30, for a total transaction of $204,137.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Guggenheim Capital LLC raised its stake in shares of SunPower by 5.0% during the 1st quarter. Guggenheim Capital LLC now owns 2,350,323 shares of the semiconductor company’s stock worth $18,756,000 after buying an additional 112,821 shares during the period. Rock Point Advisors LLC raised its stake in SunPower by 64.1% in the 1st quarter. Rock Point Advisors LLC now owns 584,670 shares of the semiconductor company’s stock valued at $4,666,000 after purchasing an additional 228,415 shares during the last quarter. First Trust Advisors LP raised its stake in SunPower by 225.7% in the 2nd quarter. First Trust Advisors LP now owns 434,323 shares of the semiconductor company’s stock valued at $3,331,000 after purchasing an additional 300,978 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in SunPower by 6.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 322,260 shares of the semiconductor company’s stock valued at $2,472,000 after purchasing an additional 19,674 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in SunPower in the 1st quarter valued at $2,496,000. 27.22% of the stock is owned by institutional investors and hedge funds.

NASDAQ SPWR traded up $0.06 during trading hours on Friday, reaching $6.70. The stock had a trading volume of 1,168,178 shares, compared to its average volume of 1,370,835. The firm has a market cap of $967.21 million, a P/E ratio of -16.34 and a beta of 2.06. SunPower has a 52-week low of $6.36 and a 52-week high of $10.00. The company has a quick ratio of 1.22, a current ratio of 1.75 and a debt-to-equity ratio of 9.81.

SunPower (NASDAQ:SPWR) last released its quarterly earnings data on Monday, July 30th. The semiconductor company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.28. SunPower had a positive return on equity of 1.37% and a negative net margin of 60.01%. The business had revenue of $449.09 million for the quarter, compared to analyst estimates of $389.86 million. During the same quarter in the prior year, the firm posted ($0.35) EPS. The business’s quarterly revenue was up 36.9% compared to the same quarter last year. research analysts expect that SunPower will post -1.55 earnings per share for the current year.

About SunPower

SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.

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Analyst Recommendations for SunPower (NASDAQ:SPWR)

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