SunPower (NASDAQ:SPWR) PT Lowered to $4.00 at Mizuho

SunPower (NASDAQ:SPWR) had its price target cut by Mizuho from $5.00 to $4.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

SPWR has been the topic of a number of other reports. Evercore ISI cut their price target on SunPower from $7.00 to $6.00 and set an outperform rating on the stock in a report on Tuesday, February 20th. StockNews.com upgraded SunPower to a sell rating in a report on Saturday, December 23rd. Guggenheim lowered SunPower from a neutral rating to a sell rating in a report on Friday, February 16th. Wells Fargo & Company reiterated an underweight rating and set a $4.00 target price (down previously from $6.00) on shares of SunPower in a report on Monday, January 8th. Finally, Susquehanna dropped their target price on SunPower from $4.50 to $3.00 and set a neutral rating on the stock in a report on Friday, April 5th. Ten research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, SunPower has a consensus rating of Hold and a consensus price target of $4.76.

SunPower Stock Down 2.2 %

Shares of SunPower stock opened at $2.21 on Friday. SunPower has a 12 month low of $2.17 and a 12 month high of $14.49. The business has a fifty day simple moving average of $2.97 and a 200 day simple moving average of $3.85. The stock has a market cap of $387.55 million, a PE ratio of -1.61 and a beta of 1.73.

SunPower (NASDAQ:SPWR) last announced its quarterly earnings data on Thursday, February 15th. The semiconductor company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.24). SunPower had a negative return on equity of 40.95% and a negative net margin of 14.15%. The company had revenue of $356.91 million for the quarter, compared to analyst estimates of $364.58 million. Analysts expect that SunPower will post -0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On SunPower

A number of large investors have recently added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. acquired a new stake in shares of SunPower in the 1st quarter valued at $46,000. Counterpoint Mutual Funds LLC boosted its holdings in shares of SunPower by 46.4% in the 1st quarter. Counterpoint Mutual Funds LLC now owns 64,619 shares of the semiconductor company’s stock valued at $194,000 after purchasing an additional 20,493 shares in the last quarter. Wedmont Private Capital acquired a new stake in shares of SunPower in the 1st quarter valued at $30,000. Quadrature Capital Ltd acquired a new stake in shares of SunPower in the 4th quarter valued at $762,000. Finally, Vanguard Group Inc. boosted its holdings in shares of SunPower by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 9,640,772 shares of the semiconductor company’s stock valued at $46,565,000 after purchasing an additional 197,291 shares in the last quarter. Institutional investors and hedge funds own 47.36% of the company’s stock.

SunPower Company Profile

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions primarily in the United States and Canada. Its solutions include the Equinox and SunVault systems which are pre-engineered modular solutions for residential applications that combine solar module technology with integrated plug-and-play power stations, cable management systems, and mounting hardware that enable dealers and installers to complete system installations, as well as for end customers to manage their energy production.