SunPower Co. (NASDAQ:SPWR) Receives Average Recommendation of “Hold” from Analysts

SunPower Co. (NASDAQ:SPWRGet Rating) has earned a consensus recommendation of “Hold” from the eighteen ratings firms that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.50.

Several brokerages have recently issued reports on SPWR. Roth Capital reduced their target price on shares of SunPower from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, July 22nd. Barclays initiated coverage on shares of SunPower in a research note on Friday, August 5th. They issued an “equal weight” rating and a $26.00 target price on the stock. Credit Suisse Group lifted their price objective on shares of SunPower to $17.00 in a research note on Tuesday, August 9th. TheStreet raised shares of SunPower from a “d+” rating to a “c” rating in a research note on Tuesday, August 23rd. Finally, Raymond James lifted their price objective on shares of SunPower from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 3rd.

SunPower Stock Up 1.2 %

Shares of NASDAQ SPWR opened at $28.13 on Friday. The firm has a market capitalization of $4.90 billion, a PE ratio of -31.26 and a beta of 1.97. The company has a current ratio of 1.19, a quick ratio of 0.94 and a debt-to-equity ratio of 0.13. SunPower has a 1 year low of $12.78 and a 1 year high of $34.61. The firm’s 50-day moving average is $21.55 and its 200-day moving average is $19.57.

SunPower (NASDAQ:SPWRGet Rating) last issued its earnings results on Tuesday, August 2nd. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $417.80 million during the quarter, compared to the consensus estimate of $364.47 million. SunPower had a negative net margin of 10.51% and a negative return on equity of 4.15%. The firm’s revenue for the quarter was up 60.2% compared to the same quarter last year. During the same period last year, the business posted $0.01 EPS. Equities analysts expect that SunPower will post 0.12 EPS for the current year.

Insider Buying and Selling at SunPower

In other SunPower news, insider Vichheka Heang sold 14,000 shares of SunPower stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $24.95, for a total value of $349,300.00. Following the transaction, the insider now owns 5,046 shares of the company’s stock, valued at $125,897.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Douglas J. Richards sold 23,912 shares of SunPower stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $25.90, for a total value of $619,320.80. Following the sale, the executive vice president now directly owns 23,909 shares in the company, valued at $619,243.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vichheka Heang sold 14,000 shares of SunPower stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $24.95, for a total transaction of $349,300.00. Following the completion of the sale, the insider now owns 5,046 shares in the company, valued at $125,897.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,912 shares of company stock valued at $1,634,371. 0.67% of the stock is currently owned by corporate insiders.

Institutional Trading of SunPower

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Guinness Asset Management LTD raised its holdings in shares of SunPower by 6.8% in the second quarter. Guinness Asset Management LTD now owns 201,534 shares of the semiconductor company’s stock valued at $3,170,000 after purchasing an additional 12,745 shares during the last quarter. Verition Fund Management LLC increased its holdings in SunPower by 84.5% during the second quarter. Verition Fund Management LLC now owns 184,435 shares of the semiconductor company’s stock worth $2,916,000 after buying an additional 84,488 shares during the last quarter. Legal & General Group Plc increased its holdings in SunPower by 59.5% during the second quarter. Legal & General Group Plc now owns 205,948 shares of the semiconductor company’s stock worth $3,255,000 after buying an additional 76,827 shares during the last quarter. Prudential Financial Inc. increased its holdings in SunPower by 11.4% during the second quarter. Prudential Financial Inc. now owns 10,818 shares of the semiconductor company’s stock worth $164,000 after buying an additional 1,103 shares during the last quarter. Finally, Paloma Partners Management Co increased its holdings in SunPower by 79.9% during the second quarter. Paloma Partners Management Co now owns 46,600 shares of the semiconductor company’s stock worth $737,000 after buying an additional 20,700 shares during the last quarter. 36.61% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Stories

Analyst Recommendations for SunPower (NASDAQ:SPWR)

Receive News & Ratings for SunPower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunPower and related companies with MarketBeat.com's FREE daily email newsletter.