SunPower Corporation (SPWR) Receives $9.27 Consensus Price Target from Analysts
Shares of SunPower Corporation (NASDAQ:SPWR) have been given an average recommendation of “Hold” by the nineteen brokerages that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $9.23.
Several research firms recently weighed in on SPWR. ValuEngine raised SunPower Corporation from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Vetr cut SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $11.45 price objective for the company. in a report on Monday, July 17th. Cowen and Company set a $12.00 target price on SunPower Corporation and gave the stock a “buy” rating in a research report on Monday, July 10th. Macquarie downgraded SunPower Corporation from an “outperform” rating to a “neutral” rating in a research report on Friday, September 8th. Finally, Zacks Investment Research downgraded SunPower Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th.
SunPower Corporation (NASDAQ SPWR) traded down 1.36% on Friday, reaching $7.24. The company had a trading volume of 1,368,453 shares. SunPower Corporation has a 52-week low of $5.84 and a 52-week high of $11.70. The company’s market capitalization is $1.01 billion. The company’s 50-day moving average is $8.55 and its 200-day moving average is $8.19.
SunPower Corporation (NASDAQ:SPWR) last posted its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported ($0.39) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.24. The company had revenue of $341.50 million during the quarter, compared to the consensus estimate of $312.58 million. SunPower Corporation had a negative net margin of 21.84% and a negative return on equity of 12.56%. The company’s revenue for the quarter was down 15.0% on a year-over-year basis. During the same period last year, the firm earned ($0.22) EPS. Equities analysts anticipate that SunPower Corporation will post ($1.08) EPS for the current fiscal year.
Several large investors have recently bought and sold shares of SPWR. CAPROCK Group Inc. lifted its stake in shares of SunPower Corporation by 1.1% during the second quarter. CAPROCK Group Inc. now owns 11,941 shares of the semiconductor company’s stock valued at $112,000 after buying an additional 128 shares during the period. HighTower Advisors LLC acquired a new stake in SunPower Corporation during the second quarter worth approximately $124,000. Raymond James Financial Services Advisors Inc. boosted its position in SunPower Corporation by 109.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,354 shares of the semiconductor company’s stock worth $130,000 after acquiring an additional 11,159 shares during the last quarter. Candriam Luxembourg S.C.A. acquired a new stake in SunPower Corporation during the second quarter worth approximately $130,000. Finally, WFG Advisors LP boosted its position in SunPower Corporation by 7.6% during the second quarter. WFG Advisors LP now owns 15,550 shares of the semiconductor company’s stock worth $145,000 after acquiring an additional 1,100 shares during the last quarter. 28.82% of the stock is owned by institutional investors and hedge funds.
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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