SunPower (NASDAQ:SPWR) PT Raised to $25.00 at Raymond James

SunPower (NASDAQ:SPWRGet Rating) had its price target boosted by research analysts at Raymond James from $22.00 to $25.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Raymond James’ price objective points to a potential upside of 9.84% from the company’s previous close.

SPWR has been the subject of a number of other research reports. UBS Group upped their price target on SunPower from $17.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday. Piper Sandler reduced their price target on SunPower from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, July 19th. JPMorgan Chase & Co. upped their price objective on SunPower from $19.00 to $20.00 in a research note on Wednesday, July 20th. The Goldman Sachs Group cut SunPower from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $19.00 to $13.00 in a research note on Monday, June 20th. Finally, Roth Capital dropped their price objective on SunPower from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, July 22nd. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.29.

SunPower Trading Up 2.3 %

NASDAQ:SPWR opened at $22.76 on Wednesday. SunPower has a twelve month low of $12.78 and a twelve month high of $34.61. The company has a quick ratio of 0.87, a current ratio of 1.19 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $17.59 and a two-hundred day moving average price of $17.96. The company has a market cap of $3.96 billion, a P/E ratio of -25.29 and a beta of 2.06.

SunPower (NASDAQ:SPWRGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The semiconductor company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). SunPower had a negative return on equity of 4.15% and a negative net margin of 10.51%. The firm had revenue of $417.80 million for the quarter, compared to analyst estimates of $364.47 million. During the same period last year, the company earned $0.01 EPS. The company’s revenue was up 60.2% compared to the same quarter last year. As a group, analysts expect that SunPower will post 0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On SunPower

Large investors have recently added to or reduced their stakes in the business. Huntington National Bank bought a new stake in SunPower in the 1st quarter valued at $32,000. Banque Cantonale Vaudoise increased its position in SunPower by 140.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 2,567 shares of the semiconductor company’s stock worth $54,000 after buying an additional 1,500 shares during the period. US Bancorp DE increased its position in SunPower by 205.7% during the 1st quarter. US Bancorp DE now owns 4,106 shares of the semiconductor company’s stock worth $88,000 after buying an additional 2,763 shares during the period. PNC Financial Services Group Inc. increased its position in SunPower by 66.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,469 shares of the semiconductor company’s stock worth $96,000 after buying an additional 1,792 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in SunPower by 20.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 4,642 shares of the semiconductor company’s stock worth $100,000 after buying an additional 796 shares during the period. Institutional investors own 36.61% of the company’s stock.

About SunPower

(Get Rating)

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions to customers primarily in the United States and Canada. It operates through Residential, Light Commercial; Commercial and Industrial Solutions; and Others segments. The company provides solar, storage, and home energy solutions and components through a combination of its third-party installing and non-installing dealer network and resellers, as well as in-house sales team; and turn-key engineering, procurement, and construction services and sale of energy under power purchase agreements.

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