SunPower (NASDAQ:SPWR) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued on Tuesday, September 18th.

Several other research analysts also recently commented on SPWR. BidaskClub raised SunPower from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Williams Capital boosted their target price on SunPower from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, May 24th. JPMorgan Chase & Co. lowered their target price on SunPower from $9.50 to $8.50 and set a “neutral” rating for the company in a research note on Thursday, June 7th. Credit Suisse Group lowered their target price on SunPower from $8.50 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, June 7th. Finally, Robert W. Baird downgraded SunPower from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $10.00 to $7.00 in a research note on Monday, June 11th. Two 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’s stock. SunPower has a consensus rating of “Hold” and an average price target of $8.72.

SPWR stock traded up $0.05 during midday trading on Tuesday, reaching $6.53. The company had a trading volume of 1,743,035 shares, compared to its average volume of 2,219,093. The company has a market cap of $1.03 billion, a PE ratio of -15.93 and a beta of 1.96. SunPower has a 1-year low of $6.36 and a 1-year 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 posted its quarterly earnings results on Monday, July 30th. The semiconductor company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.28. The business had revenue of $449.09 million during the quarter, compared to the consensus estimate of $389.86 million. SunPower had a positive return on equity of 1.37% and a negative net margin of 60.01%. SunPower’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. On average, analysts anticipate that SunPower will post -1.55 EPS for the current fiscal year.

In related 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 value of $204,137.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.88% of the company’s stock.

A number of hedge funds have recently made changes to their positions in SPWR. Point72 Asset Management L.P. bought a new stake in SunPower in the first quarter valued at approximately $2,496,000. First Trust Advisors LP boosted its holdings in SunPower by 225.7% in the second quarter. First Trust Advisors LP now owns 434,323 shares of the semiconductor company’s stock valued at $3,331,000 after acquiring an additional 300,978 shares during the last quarter. Rock Point Advisors LLC boosted its holdings in SunPower by 64.1% in the first quarter. Rock Point Advisors LLC now owns 584,670 shares of the semiconductor company’s stock valued at $4,666,000 after acquiring an additional 228,415 shares during the last quarter. Millennium Management LLC bought a new stake in SunPower in the second quarter valued at approximately $1,329,000. Finally, KBC Group NV boosted its holdings in SunPower by 194.2% in the first quarter. KBC Group NV now owns 214,910 shares of the semiconductor company’s stock valued at $1,715,000 after acquiring an additional 141,873 shares during the last quarter. Institutional investors and hedge funds 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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Analyst Recommendations for SunPower (NASDAQ:SPWR)

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