SunPower Corporation (NASDAQ:SPWR) issued its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.24, Morningstar.com reports. The firm had revenue of $341.50 million for the quarter, compared to analyst estimates of $312.58 million. SunPower Corporation had a negative net margin of 21.84% and a negative return on equity of 12.56%. SunPower Corporation’s revenue was down 15.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.22) EPS.
SunPower Corporation (NASDAQ SPWR) opened at 9.30 on Friday. The firm’s market capitalization is $1.30 billion. SunPower Corporation has a one year low of $5.84 and a one year high of $11.70. The company has a 50-day moving average price of $9.87 and a 200-day moving average price of $7.90.
Several analysts recently issued reports on the stock. Deutsche Bank AG boosted their price objective on shares of SunPower Corporation from $6.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. BidaskClub lowered shares of SunPower Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $13.00 price objective (up from $10.00) on shares of SunPower Corporation in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of SunPower Corporation from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Monday, August 7th. Finally, Axiom Securities reiterated a “buy” rating on shares of SunPower Corporation in a research note on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $9.57.
A number of large investors have recently bought and sold shares of SPWR. Karp Capital Management Corp acquired a new stake in SunPower Corporation during the first quarter valued at about $838,000. Merriman Wealth Management LLC acquired a new stake in SunPower Corporation during the first quarter valued at about $122,000. California Public Employees Retirement System increased its stake in SunPower Corporation by 2.6% in the first quarter. California Public Employees Retirement System now owns 683,500 shares of the semiconductor company’s stock valued at $4,169,000 after buying an additional 17,200 shares in the last quarter. AQR Capital Management LLC increased its stake in SunPower Corporation by 46.1% in the fourth quarter. AQR Capital Management LLC now owns 51,299 shares of the semiconductor company’s stock valued at $339,000 after buying an additional 16,183 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in SunPower Corporation by 3.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 66,822 shares of the semiconductor company’s stock valued at $442,000 after buying an additional 2,130 shares in the last quarter. Institutional investors own 25.61% of the company’s stock.
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About SunPower Corporation
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.
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