SunPower Corporation(NASDAQ:SPWR) Sees Insider Selling

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Dallas, Texas 02/19/2014 (FINANCIALSTRENDS) – SunPower Corporation (NASDAQ:SPWR) the solar power component manufacturer had some quick notes to share on the stock front. Director Catherine A. Lesjak was found to have sold over 9,130 shares of stock on Feb 18, 2014. The average price was $33.86 and the total value of the sale was reportedly $309,141.80. Further details of this deal are now available with the SEC.

SunPower Corporation (NASDAQ:SPWR) has in the recent times noted that the earnings data released on Tuesday Feb 11, 2014 revealed that per share price was $0.47 for the quarter. This had beaten analyst consensus estimate of $0.27 by $0.19. The revenue was also recorded as $758 million for the quarter. This in comparison to the consensus estimate was $707.93 million. For the same quarter in 2012, the company had also reported $0.18 earnings per share. The over all revenue for the stock was however much lower at 3.4% in comparison to previous quarter work of last year. Additionally, the analysts also proved that the SunPower Corp, was also expected to post $1.16 EPS for the present financial year.

SunPower Corporation (NASDAQ:SPWR) has been at the positive end of analyst endorsement over the past few weeks. These include big names such as UBS AG which moved the rating to Neutral and price target revised to $35 from the earlier note of $30. Again JP Morgan Chase & Co too issued a research note where the shares for SunPower Corporation (NASDAQ:SPWR) were reported as ‘overweight’ and the price target of the stock fixed at $31.87.

SunPower Corporation (NASDAQ:SPWR) has also received note from Zacks. This analyst believes the stock is an outperform and has moved sth eshares to Hold. The price target is revised to $39.00. Over eight other research analysts have rated the stock as Hold and an equal number to buy for this company.

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