Mizuho Lowers SunPower (NASDAQ:SPWR) Price Target to $4.00

SunPower (NASDAQ:SPWR) had its price target lowered by Mizuho from $5.00 to $4.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Mizuho’s price objective would indicate a potential upside of 81.00% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Susquehanna cut their target price on shares of SunPower from $4.50 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, April 5th. Raymond James cut shares of SunPower from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 4th. Truist Financial lowered their price target on shares of SunPower from $5.00 to $3.50 and set a “hold” rating for the company in a research report on Tuesday, January 23rd. UBS Group lifted their price target on shares of SunPower from $4.00 to $4.25 and gave the company a “neutral” rating in a research report on Friday, February 16th. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $4.00 price target (down from $6.00) on shares of SunPower in a research report on Monday, January 8th. Ten research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, SunPower has an average rating of “Hold” and a consensus target price of $4.76.

SunPower Trading Down 2.2 %

Shares of SPWR opened at $2.21 on Friday. The firm’s 50-day moving average price is $2.97 and its 200-day moving average price is $3.86. The firm has a market capitalization of $387.55 million, a price-to-earnings ratio of -1.61 and a beta of 1.73. SunPower has a 1-year low of $2.17 and a 1-year high of $14.49.

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

Institutional Trading of SunPower

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPWR. Mercer Global Advisors Inc. ADV increased its stake in shares of SunPower by 3.2% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 24,881 shares of the semiconductor company’s stock worth $573,000 after purchasing an additional 782 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of SunPower by 6.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 13,966 shares of the semiconductor company’s stock worth $321,000 after purchasing an additional 823 shares in the last quarter. Toroso Investments LLC increased its stake in shares of SunPower by 24.7% in the 3rd quarter. Toroso Investments LLC now owns 5,077 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 1,007 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of SunPower by 11.4% in the 2nd quarter. Prudential Financial Inc. now owns 10,818 shares of the semiconductor company’s stock worth $164,000 after purchasing an additional 1,103 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of SunPower by 0.5% in the 4th quarter. Alliancebernstein L.P. now owns 212,391 shares of the semiconductor company’s stock worth $3,829,000 after purchasing an additional 1,125 shares in the last quarter. 47.36% of the stock is owned by hedge funds and other institutional investors.

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.