SunPower (SPWR) Research Coverage Started at Bank of America

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.

SunPower (NASDAQ:SPWR) last posted its earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.60. SunPower had a negative net margin of 24.91% and a negative return on equity of 20.81%. The business had revenue of $477.20 million for the quarter, compared to analysts’ expectations of $383.76 million. During the same period in the previous year, the company posted $0.68 earnings per share. The business’s revenue for the quarter was down 34.6% compared to the same quarter last year. research analysts anticipate that SunPower will post -0.77 EPS for the current year.

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.

TRADEMARK VIOLATION NOTICE: “SunPower (SPWR) Research Coverage Started at Bank of America” was reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.com-unik.info/2017/12/26/sunpower-spwr-research-coverage-started-at-bank-of-america.html.

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.

Analyst Recommendations for SunPower (NASDAQ:SPWR)

Receive News & Ratings for SunPower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunPower and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit