SunPower (NASDAQ:SPWR) had its price objective reduced by Bank of America from $7.50 to $7.00 in a report published on Tuesday morning. They currently have a neutral rating on the semiconductor company’s stock.
A number of other research firms have also issued reports on SPWR. ValuEngine raised shares of SunPower from a sell rating to a hold rating in a research note on Wednesday, June 20th. BidaskClub raised shares of SunPower from a strong sell rating to a sell rating in a research note on Friday, September 21st. Credit Suisse Group raised shares of SunPower from a neutral rating to an outperform rating and boosted their target price for the company from $8.00 to $10.00 in a research note on Wednesday, September 19th. Robert W. Baird boosted their target price on shares of SunPower from $7.00 to $9.00 and gave the company a neutral rating in a research note on Wednesday, September 19th. Finally, JPMorgan Chase & Co. set a $9.00 target price on shares of SunPower and gave the company a hold rating in a research note on Wednesday, September 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $8.72.
Get SunPower alerts:Shares of NASDAQ SPWR traded down $0.10 during midday trading on Tuesday, hitting $6.38. The company’s stock had a trading volume of 39,051 shares, compared to its average volume of 2,221,486. SunPower has a 1-year low of $6.36 and a 1-year high of $10.00. The company has a debt-to-equity ratio of 9.81, a quick ratio of 1.22 and a current ratio of 1.75. The firm has a market capitalization of $1.03 billion, a PE ratio of -15.78 and a beta of 1.96.
SunPower (NASDAQ:SPWR) last posted its quarterly earnings results on Monday, July 30th. The semiconductor company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.28. SunPower had a negative net margin of 60.01% and a positive return on equity of 1.37%. The business had revenue of $449.09 million during the quarter, compared to analyst estimates of $389.86 million. During the same period in the previous year, the business posted ($0.35) EPS. The company’s quarterly revenue was up 36.9% on a year-over-year basis. Equities analysts forecast that SunPower will post -1.55 earnings per share for the current year.
In other SunPower news, EVP Kenneth Lawrence Mahaffey sold 27,964 shares of the business’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $7.30, for a total transaction of $204,137.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.88% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC bought a new stake in shares of SunPower during the 1st quarter worth about $109,000. Cubist Systematic Strategies LLC bought a new stake in shares of SunPower during the 1st quarter worth about $139,000. Suntrust Banks Inc. bought a new stake in shares of SunPower during the 1st quarter worth about $145,000. Timber Hill LLC bought a new stake in shares of SunPower during the 2nd quarter worth about $148,000. Finally, BlueMountain Capital Management LLC bought a new stake in shares of SunPower during the 2nd quarter worth about $200,000. Institutional investors own 27.22% of the company’s stock.
SunPower Company Profile
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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