SunPower Co. (SPWR) Issues Earnings Results, Beats Estimates By $0.13 EPS

SunPower Co. (NASDAQ:SPWR) released its quarterly earnings results on Tuesday. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.13. SunPower had a negative net margin of 16.95% and a positive return on equity of 16.65%. The business had revenue of $429.50 million for the quarter, compared to analyst estimates of $388.07 million. During the same quarter in the previous year, the business earned ($0.30) earnings per share. The firm’s revenue was down .9% compared to the same quarter last year.

Earnings History for SunPower (NASDAQ:SPWR)

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its position in shares of SunPower by 9.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 101,262 shares of the semiconductor company’s stock worth $618,000 after buying an additional 8,721 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of SunPower by 8.1% in the first quarter. TIAA CREF Investment Management LLC now owns 271,940 shares of the semiconductor company’s stock worth $1,659,000 after buying an additional 20,372 shares during the last quarter. Geode Capital Management LLC raised its position in shares of SunPower by 6.3% in the first quarter. Geode Capital Management LLC now owns 532,710 shares of the semiconductor company’s stock worth $3,249,000 after buying an additional 31,526 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of SunPower by 1.3% in the first quarter. Vanguard Group Inc. now owns 4,324,356 shares of the semiconductor company’s stock worth $26,378,000 after buying an additional 54,858 shares during the last quarter. 30.80% of the stock is currently owned by hedge funds and other institutional investors.

SPWR has been the topic of a number of recent analyst reports. Mizuho restated a “neutral” rating and set a $8.00 price target (down previously from $25.00) on shares of SunPower in a report on Monday, January 30th. Zacks Investment Research upgraded shares of SunPower from a “sell” rating to a “hold” rating in a report on Tuesday, February 7th. Credit Suisse Group AG restated a “hold” rating on shares of SunPower in a report on Friday, February 10th. Goldman Sachs Group Inc restated a “neutral” rating on shares of SunPower in a report on Friday, February 10th. Finally, Robert W. Baird restated a “neutral” rating and set a $7.00 price target on shares of SunPower in a report on Thursday, February 16th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $9.13.

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About SunPower

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.

12 Month Chart for NASDAQ:SPWR

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