SunPower Corporation (NASDAQ:SPWR) Upgraded to “Strong-Buy” at Vetr Inc.

Vetr upgraded shares of SunPower Corporation (NASDAQ:SPWR) from a buy rating to a strong-buy rating in a research report released on Tuesday. They currently have $12.52 target price on the semiconductor company’s stock.

Other analysts also recently issued reports about the stock. ValuEngine raised shares of SunPower Corporation from a strong sell rating to a sell rating in a report on Friday, June 2nd. Zacks Investment Research downgraded shares of SunPower Corporation from a strong-buy rating to a hold rating in a report on Wednesday, July 12th. Cowen and Company set a $12.00 price objective on shares of SunPower Corporation and gave the stock a buy rating in a report on Monday, July 10th. Finally, BidaskClub raised shares of SunPower Corporation from a hold rating to a buy rating in a report on Tuesday, June 27th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $9.36.

SunPower Corporation (NASDAQ:SPWR) opened at 11.07 on Tuesday. The firm’s market cap is $1.54 billion. The firm has a 50-day moving average of $8.68 and a 200-day moving average of $7.51. SunPower Corporation has a one year low of $5.84 and a one year high of $16.41.

SunPower Corporation (NASDAQ:SPWR) last announced its quarterly earnings results on Tuesday, May 9th. The semiconductor company reported ($0.36) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.13. SunPower Corporation had a negative net margin of 20.21% and a negative return on equity of 10.47%. The company had revenue of $429.50 million for the quarter, compared to analyst estimates of $388.07 million. During the same quarter in the prior year, the business posted ($0.30) EPS. SunPower Corporation’s quarterly revenue was down .9% on a year-over-year basis. Analysts anticipate that SunPower Corporation will post ($1.08) EPS for the current year.

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Several institutional investors have recently added to or reduced their stakes in SPWR. State Board of Administration of Florida Retirement System increased its position 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 worth $442,000 after buying an additional 2,130 shares during the last quarter. State Street Corp increased its position in SunPower Corporation by 26.7% in the fourth quarter. State Street Corp now owns 1,798,903 shares of the semiconductor company’s stock worth $11,895,000 after buying an additional 379,112 shares during the last quarter. AQR Capital Management LLC increased its position 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 worth $339,000 after buying an additional 16,183 shares during the last quarter. Teachers Advisors LLC increased its position in SunPower Corporation by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 97,906 shares of the semiconductor company’s stock worth $647,000 after buying an additional 696 shares during the last quarter. Finally, Merriman Wealth Management LLC acquired a new position in SunPower Corporation during the first quarter worth approximately $122,000. 25.53% of the stock is owned by institutional investors.

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.

Analyst Recommendations for SunPower Corporation (NASDAQ:SPWR)

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