SunPower (SPWR) Research Coverage Started at Credit Suisse Group

Credit Suisse Group began coverage on shares of SunPower (NASDAQ:SPWR) in a report issued on Monday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $7.20 price target on the semiconductor company’s stock.

SPWR has been the topic of several other reports. Bank of America set a $10.00 price target on SunPower and gave the stock a hold rating in a research note on Thursday, December 28th. BidaskClub raised SunPower from a hold rating to a buy rating in a research note on Tuesday, December 19th. ValuEngine cut SunPower from a hold rating to a sell rating in a research note on Friday, December 1st. Zacks Investment Research cut SunPower from a buy rating to a hold rating in a research note on Tuesday, January 2nd. Finally, Guggenheim reissued a hold rating on shares of SunPower in a research note on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. SunPower has an average rating of Hold and a consensus price target of $9.97.

Shares of SunPower (SPWR) opened at $7.48 on Monday. The firm has a market capitalization of $1,040.00, a price-to-earnings ratio of -1.86 and a beta of 2.73. SunPower has a 12 month low of $5.84 and a 12 month high of $11.70. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 1.71.

SunPower (NASDAQ:SPWR) last issued its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.13. The company had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $796.62 million. SunPower had a negative return on equity of 20.81% and a negative net margin of 24.91%. The firm’s revenue for the quarter was down 24.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.64) earnings per share. analysts predict that SunPower will post -0.77 EPS for the current year.

In other news, Director Catherine A. Lesjak sold 23,632 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $7.50, for a total value of $177,240.00. Following the sale, the director now directly owns 55,924 shares of the company’s stock, valued at $419,430. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.92% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. WFG Advisors LP boosted its position in shares of SunPower by 7.6% during the second quarter. WFG Advisors LP now owns 15,550 shares of the semiconductor company’s stock valued at $145,000 after buying an additional 1,100 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of SunPower by 8.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 23,084 shares of the semiconductor company’s stock valued at $216,000 after buying an additional 1,730 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of SunPower by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,390,856 shares of the semiconductor company’s stock valued at $12,991,000 after buying an additional 3,841 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of SunPower by 13.6% during the second quarter. Alliancebernstein L.P. now owns 46,900 shares of the semiconductor company’s stock valued at $438,000 after buying an additional 5,610 shares during the last quarter. Finally, Shelton Capital Management boosted its position in shares of SunPower by 10.8% during the third quarter. Shelton Capital Management now owns 70,000 shares of the semiconductor company’s stock valued at $510,000 after buying an additional 6,800 shares during the last quarter. 26.15% of the stock is currently owned by institutional investors.

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SunPower 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.

Analyst Recommendations for SunPower (NASDAQ:SPWR)

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