SunPower (NASDAQ:SPWR) had its price objective raised by Bank of America from $8.00 to $8.50 in a research report sent to investors on Wednesday morning. They currently have a neutral rating on the semiconductor company’s stock.

Other analysts have also issued reports about the stock. ValuEngine upgraded shares of SunPower from a strong sell rating to a sell rating in a research note on Monday, April 2nd. Credit Suisse Group assumed coverage on shares of SunPower in a research note on Monday, February 12th. They issued a neutral rating and a $7.20 price target for the company. Oppenheimer reiterated a market perform rating and issued a $10.00 price target on shares of SunPower in a research note on Thursday, February 15th. UBS lowered shares of SunPower from an outperform rating to a market perform rating in a research note on Thursday, February 15th. Finally, BidaskClub upgraded shares of SunPower from a hold rating to a buy rating in a research note on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $9.09.

Shares of SunPower stock opened at $9.69 on Wednesday. The company has a debt-to-equity ratio of 5.05, a current ratio of 1.23 and a quick ratio of 0.91. The stock has a market capitalization of $1,376.08, a price-to-earnings ratio of -23.63 and a beta of 2.58. SunPower has a 52-week low of $6.46 and a 52-week high of $11.70.

SunPower (NASDAQ:SPWR) last issued its earnings results on Wednesday, February 14th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.34. The business had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $796.62 million. SunPower had a negative net margin of 45.47% and a negative return on equity of 8.74%. The business’s revenue for the quarter was down 24.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.64) earnings per share. research analysts predict that SunPower will post -1.29 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DnB Asset Management AS grew its position in SunPower by 447.4% during the fourth quarter. DnB Asset Management AS now owns 1,105,612 shares of the semiconductor company’s stock valued at $9,320,000 after buying an additional 903,620 shares during the period. First Trust Advisors LP grew its position in SunPower by 9.6% during the fourth quarter. First Trust Advisors LP now owns 152,750 shares of the semiconductor company’s stock valued at $1,288,000 after buying an additional 13,346 shares during the period. MANA Advisors LLC bought a new stake in SunPower during the fourth quarter valued at approximately $301,000. Impax Asset Management LTD grew its position in SunPower by 0.8% during the fourth quarter. Impax Asset Management LTD now owns 3,102,774 shares of the semiconductor company’s stock valued at $26,156,000 after buying an additional 24,878 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in SunPower by 4.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 261,201 shares of the semiconductor company’s stock valued at $2,202,000 after buying an additional 11,700 shares during the period. Institutional investors own 27.05% of the company’s stock.

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About SunPower

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.

Analyst Recommendations for SunPower (NASDAQ:SPWR)

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