SunPower Co. (NASDAQ:SPWR) Given Consensus Recommendation of “Hold” by Analysts

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Shares of SunPower Co. (NASDAQ:SPWR) have earned a consensus recommendation of “Hold” from the eleven analysts that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $7.62.

Several research firms recently issued reports on SPWR. ValuEngine upgraded WPP from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. Morgan Stanley restated an “overweight” rating and set a GBX 2,280 ($29.79) price target on shares of Anglo American in a research report on Wednesday, May 8th. BidaskClub upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, July 4th. JPMorgan Chase & Co. set a €53.00 ($61.63) price target on Kion Group and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Finally, Raymond James set a C$2.25 price target on Integra Resources and gave the stock an “outperform” rating in a research report on Wednesday, June 19th.

In other news, CFO Manavendra Sial sold 8,177 shares of SunPower stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $8.06, for a total value of $65,906.62. Following the sale, the chief financial officer now directly owns 8,178 shares in the company, valued at approximately $65,914.68. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Patrick Wood III sold 33,609 shares of SunPower stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $7.89, for a total value of $265,175.01. Following the completion of the sale, the director now owns 129,083 shares in the company, valued at $1,018,464.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,034 shares of company stock worth $588,421. 1.04% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of SPWR. Norges Bank bought a new stake in shares of SunPower in the 4th quarter worth approximately $5,873,000. IndexIQ Advisors LLC bought a new stake in shares of SunPower during the first quarter valued at approximately $1,596,000. California Public Employees Retirement System boosted its position in shares of SunPower by 14.1% during the fourth quarter. California Public Employees Retirement System now owns 684,902 shares of the semiconductor company’s stock valued at $3,404,000 after purchasing an additional 84,826 shares in the last quarter. First Trust Advisors LP boosted its position in shares of SunPower by 56.2% during the fourth quarter. First Trust Advisors LP now owns 203,938 shares of the semiconductor company’s stock valued at $1,014,000 after purchasing an additional 73,410 shares in the last quarter. Finally, OZ Management LP bought a new stake in shares of SunPower during the first quarter valued at approximately $382,000. Hedge funds and other institutional investors own 27.86% of the company’s stock.

Shares of NASDAQ SPWR traded down $0.29 during trading hours on Friday, reaching $11.11. 66,312 shares of the stock traded hands, compared to its average volume of 3,101,865. The stock has a market cap of $1.61 billion, a P/E ratio of -12.63 and a beta of 2.33. SunPower has a 52-week low of $4.55 and a 52-week high of $12.79. The business’s 50-day moving average is $9.85.

SunPower (NASDAQ:SPWR) last announced its quarterly earnings data on Thursday, May 9th. The semiconductor company reported ($0.45) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.05. The company had revenue of $348.22 million for the quarter, compared to analysts’ expectations of $387.93 million. SunPower had a negative return on equity of 83.67% and a negative net margin of 46.65%. SunPower’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.20) EPS. On average, analysts anticipate that SunPower will post -0.59 EPS for the current 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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Analyst Recommendations for SunPower (NASDAQ:SPWR)

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