SunPower Corp Receives a Hold from Credit Suisse

By Carrie Williams

Credit Suisse analyst Patrick Jobin assigned a Hold rating to SunPower Corp (NASDAQ: SPWR) today and set a price target of $9. The company’s shares closed last Friday at $6.50, close to its 52-week low of $6.

According to TipRanks.com, Jobin is ranked 0 out of 5 stars with an average return of -11.3% and a 34.6% success rate. Jobin covers the Technology sector, focusing on stocks such as Silver Spring, SunEdison Inc, and Vivint Solar.

SunPower Corp has an analyst consensus of Hold.

Based on SunPower Corp’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $729 million and GAAP net loss of $40.55 million. In comparison, last year the company earned revenue of $380 million and had a GAAP net loss of $56.33 million.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is neutral on the stock. Most recently, in May 2015, Patrick Wood, a Director at SPWR sold 6,000 shares for a total of $192,240.

SunPower Corp. provides solar products and services. It operates through three business segments: Residential, Commercial and Power Plant. The Residential segment refers to sales of solar energy solutions to residential end customers. The Commercial segment refers to sales of solar energy solutions to commercial and public entity end customers. The Power Plant segment refers to solar products and systems business. SunPower was founded by Thomas L. Dinwoodie, Robert Lorenzini and Richard M. Swanson in April 1985 and is headquartered in San Jose, CA.