Brokerages Set SunPower Co. (SPWR) Target Price at $8.13

SunPower Co. (NASDAQ:SPWR) has earned a consensus rating of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $7.16.

SPWR has been the topic of a number of recent analyst reports. BidaskClub raised shares of SunPower from a “strong sell” rating to a “sell” rating in a report on Wednesday, November 28th. Bank of America downgraded shares of SunPower from a “neutral” rating to an “underperform” rating and set a $6.00 price target on the stock. in a report on Friday. Credit Suisse Group downgraded shares of SunPower from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $10.00 to $7.00 in a report on Friday. ValuEngine raised shares of SunPower from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, Barclays initiated coverage on shares of SunPower in a report on Monday, January 7th. They issued an “underweight” rating and a $4.00 price objective on the stock.

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In other SunPower news, insider Vidul Prakash sold 24,826 shares of SunPower stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $6.88, for a total transaction of $170,802.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 26,470 shares of company stock worth $179,122 in the last ninety days. Insiders own 0.88% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in SunPower by 11.7% in the fourth quarter. Legal & General Group Plc now owns 21,138 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 2,214 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in SunPower by 483.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 24,165 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 20,024 shares during the last quarter. Squarepoint Ops LLC increased its position in SunPower by 85.7% in the fourth quarter. Squarepoint Ops LLC now owns 47,257 shares of the semiconductor company’s stock worth $235,000 after purchasing an additional 21,809 shares during the last quarter. MUFG Securities EMEA plc increased its position in SunPower by 52.3% in the fourth quarter. MUFG Securities EMEA plc now owns 72,824 shares of the semiconductor company’s stock worth $362,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in SunPower by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 743,670 shares of the semiconductor company’s stock worth $3,696,000 after purchasing an additional 31,794 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

NASDAQ SPWR traded down $0.37 during mid-day trading on Tuesday, hitting $5.92. The stock had a trading volume of 4,338,354 shares, compared to its average volume of 1,772,221. SunPower has a twelve month low of $4.55 and a twelve month high of $10.00. The company has a debt-to-equity ratio of 39.39, a quick ratio of 1.17 and a current ratio of 1.70. The company has a market cap of $835.22 million, a P/E ratio of -6.73 and a beta of 2.24.

SunPower (NASDAQ:SPWR) last issued its earnings results on Wednesday, February 13th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.13. The business had revenue of $525.40 million during the quarter, compared to the consensus estimate of $566.06 million. SunPower had a negative return on equity of 50.17% and a negative net margin of 46.99%. The company’s revenue for the quarter was down 36.2% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. As a group, sell-side analysts predict that SunPower will post -0.77 EPS for the current fiscal year.

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.

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