SunPower Co. (NASDAQ:SPWR) Given Average Recommendation of “Hold” by Brokerages

SunPower Co. (NASDAQ:SPWRGet Rating) has been given a consensus recommendation of “Hold” by the twenty-two research firms that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $21.79.

A number of research analysts have commented on SPWR shares. TheStreet raised SunPower from a “d+” rating to a “c” rating in a report on Tuesday, August 23rd. UBS Group increased their target price on SunPower from $17.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. JPMorgan Chase & Co. reduced their target price on SunPower from $25.00 to $22.00 and set an “underweight” rating on the stock in a report on Thursday, October 20th. Barclays started coverage on SunPower in a report on Friday, August 5th. They set an “equal weight” rating and a $26.00 target price on the stock. Finally, Guggenheim initiated coverage on SunPower in a report on Thursday, November 10th. They set a “neutral” rating on the stock.

SunPower Trading Up 2.3 %

Shares of SPWR opened at $24.00 on Friday. The company has a market capitalization of $4.18 billion, a P/E ratio of 72.73 and a beta of 1.75. SunPower has a one year low of $12.78 and a one year high of $30.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.06 and a current ratio of 1.31. The stock has a 50-day moving average price of $21.05 and a 200 day moving average price of $20.24.

Institutional Investors Weigh In On SunPower

Several large investors have recently modified their holdings of the stock. Mutual of America Capital Management LLC boosted its position in shares of SunPower by 1.9% in the first quarter. Mutual of America Capital Management LLC now owns 75,742 shares of the semiconductor company’s stock worth $1,627,000 after buying an additional 1,446 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of SunPower by 80.0% in the first quarter. Envestnet Asset Management Inc. now owns 48,861 shares of the semiconductor company’s stock worth $1,050,000 after buying an additional 21,721 shares during the period. Victory Capital Management Inc. boosted its position in shares of SunPower by 55.2% in the first quarter. Victory Capital Management Inc. now owns 18,358 shares of the semiconductor company’s stock worth $303,000 after buying an additional 6,531 shares during the period. Banque Cantonale Vaudoise boosted its position in shares of SunPower by 140.6% in the first quarter. Banque Cantonale Vaudoise now owns 2,567 shares of the semiconductor company’s stock worth $54,000 after buying an additional 1,500 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of SunPower by 13.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 39,752 shares of the semiconductor company’s stock worth $854,000 after buying an additional 4,702 shares during the period. 36.61% of the stock is owned by institutional investors.

About SunPower

(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.

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Analyst Recommendations for SunPower (NASDAQ:SPWR)

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