SunPower Corporation (SPWR) Stock Rating Lowered by Macquarie
SunPower Corporation (NASDAQ:SPWR) was downgraded by stock analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research report issued on Friday.
Several other research analysts also recently commented on SPWR. ValuEngine raised SunPower Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. BidaskClub raised SunPower Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Cowen and Company set a $12.00 target price on SunPower Corporation and gave the stock a “buy” rating in a research note on Monday, July 10th. Zacks Investment Research downgraded SunPower Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Vetr downgraded SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $11.45 target price for the company. in a research note on Monday, July 17th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $9.48.
Shares of SunPower Corporation (NASDAQ SPWR) opened at 8.59 on Friday. The firm has a 50-day moving average of $9.62 and a 200 day moving average of $8.20. SunPower Corporation has a 52-week low of $5.84 and a 52-week high of $11.70. The firm’s market cap is $1.20 billion.
SunPower Corporation (NASDAQ:SPWR) last issued its earnings results on Tuesday, August 1st. The semiconductor company reported ($0.39) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.24. The firm had revenue of $341.50 million during the quarter, compared to the consensus estimate of $312.58 million. SunPower Corporation had a negative return on equity of 12.56% and a negative net margin of 21.84%. The business’s quarterly revenue was down 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. On average, equities analysts predict that SunPower Corporation will post ($0.98) earnings per share for the current year.
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A number of hedge funds have recently made changes to their positions in SPWR. Teachers Advisors LLC boosted its holdings in SunPower Corporation by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 97,906 shares of the semiconductor company’s stock valued at $647,000 after acquiring an additional 696 shares during the last quarter. Tocqueville Asset Management L.P. boosted its holdings in SunPower Corporation by 19.6% in the first quarter. Tocqueville Asset Management L.P. now owns 61,035 shares of the semiconductor company’s stock valued at $372,000 after acquiring an additional 10,000 shares during the last quarter. First Trust Advisors LP boosted its holdings in SunPower Corporation by 9.4% in the first quarter. First Trust Advisors LP now owns 1,292,779 shares of the semiconductor company’s stock valued at $7,886,000 after acquiring an additional 111,168 shares during the last quarter. Karp Capital Management Corp bought a new stake in SunPower Corporation in the first quarter valued at approximately $838,000. Finally, TFS Capital LLC bought a new stake in SunPower Corporation in the first quarter valued at approximately $126,000. Institutional investors and hedge funds own 28.84% of the company’s stock.
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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