SunPower Corporation (SPWR): Today's Featured Technology Laggard

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

SunPower Corporation ( SPWR) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day up 0.5%. By the end of trading, SunPower Corporation fell 16 cents (-1.3%) to $12.04 on light volume. Throughout the day, 2.3 million shares of SunPower Corporation exchanged hands as compared to its average daily volume of 4.2 million shares. The stock ranged in price between $11.71-$12.40 after having opened the day at $12.32 as compared to the previous trading day's close of $12.20. Other companies within the Technology sector that declined today were: VirnetX ( VHC), down 27.8%, Suntech Power Holdings ( STP), down 19.3%, Superconductor Technologies ( SCON), down 16.3%, and Velti ( VELT), down 14.2%.
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SunPower Corporation, an integrated solar products and services company, designs, manufactures, and delivers solar electric systems for residential, commercial, and utility-scale power plant customers worldwide. SunPower Corporation has a market cap of $1.5 billion and is part of the electronics industry. Shares are up 117.1% year to date as of the close of trading on Wednesday. Currently there are two analysts that rate SunPower Corporation a buy, three analysts rate it a sell, and eight rate it a hold.

TheStreet Ratings rates SunPower Corporation as a sell. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income and poor profit margins.

On the positive front, Sigma Designs ( SIGM), up 17.6%, Meade Instruments Corporation ( MEAD), up 16.1%, Oclaro ( OCLR), up 9.6%, and Bazaarvoice ( BV), up 9.3%, were all gainers within the technology sector with VMWare ( VMW) being today's featured technology sector leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

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