Mizuho Trims SunPower (NASDAQ:SPWR) Target Price to $5.00

SunPower (NASDAQ:SPWRFree Report) had its target price trimmed by Mizuho from $6.00 to $5.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

SPWR has been the topic of a number of other reports. Roth Mkm dropped their target price on shares of SunPower from $10.00 to $5.00 and set a neutral rating on the stock in a research report on Wednesday, October 25th. TheStreet downgraded shares of SunPower from a c- rating to a d rating in a research report on Wednesday, November 1st. Morgan Stanley dropped their target price on shares of SunPower from $5.00 to $3.00 and set an underweight rating on the stock in a research report on Thursday, November 2nd. Susquehanna downgraded shares of SunPower from a positive rating to a neutral rating and dropped their target price for the company from $5.50 to $4.00 in a research report on Thursday, January 11th. Finally, StockNews.com raised shares of SunPower to a sell rating in a research report on Saturday, December 23rd. Nine equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $7.45.

Read Our Latest Research Report on SPWR

SunPower Trading Down 7.3 %

Shares of NASDAQ:SPWR opened at $3.43 on Tuesday. SunPower has a 52 week low of $2.74 and a 52 week high of $18.15. The company’s 50 day moving average is $4.16 and its two-hundred day moving average is $5.74. The company has a market cap of $601.48 million, a PE ratio of -5.53 and a beta of 1.76.

SunPower (NASDAQ:SPWRGet Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.09). SunPower had a negative net margin of 5.89% and a negative return on equity of 11.97%. The firm had revenue of $432.00 million during the quarter, compared to analysts’ expectations of $429.64 million. As a group, equities research analysts expect that SunPower will post -0.76 EPS for the current year.

Hedge Funds Weigh In On SunPower

Several hedge funds have recently added to or reduced their stakes in SPWR. Morgan Stanley increased its holdings in SunPower by 144.3% during the 3rd quarter. Morgan Stanley now owns 6,926,951 shares of the semiconductor company’s stock valued at $42,739,000 after acquiring an additional 4,091,748 shares in the last quarter. Millennium Management LLC increased its holdings in SunPower by 425.8% during the 4th quarter. Millennium Management LLC now owns 4,704,981 shares of the semiconductor company’s stock valued at $84,831,000 after acquiring an additional 3,810,149 shares in the last quarter. BlackRock Inc. increased its holdings in SunPower by 24.2% during the 2nd quarter. BlackRock Inc. now owns 19,353,725 shares of the semiconductor company’s stock valued at $189,667,000 after acquiring an additional 3,770,195 shares in the last quarter. Schroder Investment Management Group increased its holdings in SunPower by 86.6% during the 2nd quarter. Schroder Investment Management Group now owns 6,802,926 shares of the semiconductor company’s stock valued at $66,669,000 after acquiring an additional 3,156,260 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in SunPower by 193.0% during the 4th quarter. Federated Hermes Inc. now owns 1,708,133 shares of the semiconductor company’s stock valued at $8,250,000 after acquiring an additional 1,125,231 shares in the last quarter. 47.36% of the stock is currently owned by hedge funds and other institutional investors.

SunPower Company Profile

(Get Free Report)

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.

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