SunPower (NASDAQ:SPWR – Get Rating) had its target price trimmed by Raymond James from $26.00 to $22.00 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.
A number of other brokerages also recently commented on SPWR. Cowen increased their price objective on SunPower from $18.00 to $20.00 in a research report on Friday, April 1st. Robert W. Baird increased their target price on SunPower from $20.00 to $24.00 and gave the company a buy rating in a report on Friday, April 1st. StockNews.com began coverage on SunPower in a report on Thursday, March 31st. They issued a sell rating for the company. The Goldman Sachs Group lowered SunPower from a neutral rating to a sell rating and reduced their target price for the company from $19.00 to $13.00 in a report on Monday, June 20th. Finally, Bank of America upgraded SunPower from an underperform rating to a neutral rating and increased their target price for the company from $13.00 to $23.00 in a report on Monday, April 4th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $21.23.
SPWR opened at $16.21 on Tuesday. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -108.06 and a beta of 2.02. SunPower has a 1-year low of $12.78 and a 1-year high of $34.61. The business has a 50 day moving average price of $16.89 and a two-hundred day moving average price of $18.20.
SunPower (NASDAQ:SPWR – Get Rating) last released its earnings results on Thursday, May 5th. The semiconductor company reported ($0.01) earnings per share for the quarter. SunPower had a negative return on equity of 3.50% and a negative net margin of 1.23%. The firm had revenue of $350.28 million during the quarter, compared to analyst estimates of $317.56 million. During the same quarter last year, the company earned $0.03 earnings per share. The business’s revenue for the quarter was up 45.9% on a year-over-year basis. As a group, research analysts predict that SunPower will post 0.24 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of SPWR. Huntington National Bank acquired a new position in SunPower during the first quarter worth $32,000. Banque Cantonale Vaudoise increased its position in SunPower by 140.6% during the first quarter. Banque Cantonale Vaudoise now owns 2,567 shares of the semiconductor company’s stock worth $54,000 after buying an additional 1,500 shares during the last quarter. US Bancorp DE increased its position in SunPower by 205.7% during the first quarter. US Bancorp DE now owns 4,106 shares of the semiconductor company’s stock worth $88,000 after buying an additional 2,763 shares during the last quarter. PNC Financial Services Group Inc. increased its position in SunPower by 66.9% during the first quarter. PNC Financial Services Group Inc. now owns 4,469 shares of the semiconductor company’s stock worth $96,000 after buying an additional 1,792 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in SunPower by 20.7% during the first quarter. Exchange Traded Concepts LLC now owns 4,642 shares of the semiconductor company’s stock worth $100,000 after buying an additional 796 shares during the last quarter. 36.61% of the stock is currently owned by hedge funds and other institutional investors.
SunPower Company Profile (Get Rating)
SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions to customers primarily in the United States and Canada. It operates through Residential, Light Commercial; Commercial and Industrial Solutions; and Others segments. The company provides solar, storage, and home energy solutions and components through a combination of its third-party installing and non-installing dealer network and resellers, as well as in-house sales team; and turn-key engineering, procurement, and construction services and sale of energy under power purchase agreements.
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Source: defenseworld.net
