Bank of America started coverage on shares of SunPower (NASDAQ:SPWR) in a research report sent to investors on Friday morning, MarketBeat reports. The brokerage issued a neutral rating and a $10.00 price objective on the semiconductor company’s stock.
Other research analysts have also recently issued reports about the stock. Robert W. Baird raised shares of SunPower from a neutral rating to an outperform rating and boosted their target price for the stock from $7.00 to $10.00 in a research report on Monday, December 11th. Cowen reaffirmed a buy rating and issued a $12.00 price target on shares of SunPower in a report on Sunday, September 17th. BidaskClub raised shares of SunPower from a hold rating to a buy rating in a report on Tuesday, December 19th. ValuEngine cut shares of SunPower from a hold rating to a sell rating in a report on Friday, September 22nd. Finally, Zacks Investment Research cut shares of SunPower from a buy rating to a hold rating in a report on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $9.85.
SunPower (NASDAQ SPWR) opened at $9.04 on Friday. SunPower has a 12-month low of $5.84 and a 12-month high of $11.70. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.02 and a current ratio of 1.41. The company has a market cap of $1,260.00, a price-to-earnings ratio of -2.25 and a beta of 3.14.
In related news, Director Catherine A. Lesjak sold 23,632 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.92% of the company’s stock.
Several large investors have recently modified their holdings of SPWR. Vanguard Group Inc. raised its holdings in shares of SunPower by 13.8% during the second quarter. Vanguard Group Inc. now owns 4,922,577 shares of the semiconductor company’s stock worth $45,977,000 after purchasing an additional 598,221 shares during the period. Northern Trust Corp raised its holdings in shares of SunPower by 141.3% during the second quarter. Northern Trust Corp now owns 845,237 shares of the semiconductor company’s stock worth $7,894,000 after purchasing an additional 494,979 shares during the period. Quentec Asset Management LLC acquired a new stake in shares of SunPower during the third quarter worth $3,208,000. GAM Holding AG raised its holdings in shares of SunPower by 970.8% during the second quarter. GAM Holding AG now owns 428,311 shares of the semiconductor company’s stock worth $4,000,000 after purchasing an additional 388,311 shares during the period. Finally, Impax Asset Management LTD raised its holdings in shares of SunPower by 13.6% during the third quarter. Impax Asset Management LTD now owns 3,077,896 shares of the semiconductor company’s stock worth $22,438,000 after purchasing an additional 367,582 shares during the period. 25.39% of the stock is currently owned by institutional investors.
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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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