SPWR

[ScottishTrader]

Well, I've been looking a lot at ESLR lately, thinking its really ready to break out of the doldrums, and I was looking around, and realised, WOW - here's a solar company that is absolutely ON FIRE!!  And then I found that there was no thread on it on 3SOF  I most certainly think there should be.

SUNPOWER summary:

SunPower Corporation engages in the design, development, manufacture, and sale of solar electric power products. It offers solar cells, solar panels, and inverters that generate electricity from sunlight for residential, commercial, and remote power applications. The company's solar cells are semiconductor devices that directly convert sunlight into electricity. Its solar cell product includes A-300 solar cell, a silicon solar cell with a specified power value of 3.1 watts. The company's solar panels are solar cells electrically connected together and encapsulated in a weatherproof package. Its solar panel products include SPR-200 and SPR-210 that are larger solar panels, which contain 72 electrically interconnected A-300 solar cells and are specified at 200 and 210 watts; SPR-215, a solar panel with a power rating of 215 watts; SPR-95, a 95-watt solar panel; and SPR-90, a smaller solar panel, which contains 32 electrically interconnected A-300 solar cells and is specified at 90 watts. The company's inverters transform DC electricity produced by solar panels into the common form of AC electricity, and are used in virtually on-grid solar power system and primarily feed power either directly into the home electrical circuit or into the utility grid. Its inverter product line includes three models spanning a power range of 2.0 to 3.2 kilowatts. The company also offers imaging detectors that are back contact light sensor arrays for medical imaging applications, as well as infrared detectors that are semiconductors, which detect light signals primarily for use in computing and mobile phone applications. It markets and sells its products to system integrators and original equipment manufacturers in the United States, Europe, Asia, and other countries. The company was incorporated in 1985 and is headquartered in Sunnyvale, California. SunPower Corporation is a subsidiary of Cypress Semiconductor Corporation.

[ScottishTrader]

SunPower just acquired one of its main customers, PowerLight, in a deal that will make them not only a maker of solar cells, but an end-to-end provider of solar power and panel technology. and allow them to getnerate in excess of $600M in revs next year.

Consolidation Heats Up in Solar Sector
http://biz.yahoo.com/indie/061116/428_id.html?.v=1

Seems like it could be good for Sunpower, but also not so good for the likes of ESLR, who are also have PowerLight as a customer (not for long, I presume).

Anyway, I had a quick look at the chart, and it looks like a screamer!  Why is it that you always find charts like this after they have gone up 50%    I guess thats what makes them look good, but hey.

Anyway, SPWR put in a major W-bottom pattern in the second half of this year, after seeing highs of $44 in the 4 months folowing its IPO.  The target of this W-bottom is (using melfs conservative leg rule) $42.  In addition to this, a double inverse H&S pattern (i.e. shoulders within shoulders... ask Melf Elf!)  formed off the second bottom of the W.  This also has a target of $42.  Seems like we have some significant patterns that are saying, hey SPWR looks like it ought to go to $42?  It broke from this double inverse H&S in e3arly november, tagging $40, and has pulled back forming a pennant, which looks like it is chomping at the bit to break to the upside.  I think the tea-leaves are telling me that SPWR is good for another 10% or so from these levels, at least. 

They are cash flow positive,  they are earning money (.17 PES estimate for this Q, on $71.8M in revs) and they are growing rapidly, both organically and through acquisitions (EPS trends from a year ago: Dec - .02, Mar - .04, Jun - .11, Sep - .16, This Dec est - .17).  Total EPS for this year is expected to be .49 on $232.5M revs.  Next year analysts are looking for .86 on $430.3, and SPWR have already stated that with their acquisiton fo PowerLight, they anticipate revs in excess of $600M, way above forecasts.  I know that even on .86, at current levels this give a forward P/E ratio of 44, but  see this one as having a lot of potential.  Anyone else with more of a financial head on their shoulders, please let me know what you think!!

Mainly I like the chart, so or now, I'll let the chart do the talking....

[ScottishTrader]

Just found this re: the PowerLight acquisition from a Citibank analyst coverin SPWR:

* SPWR announced Wednesday the acquisition of
channel partner and global systems integrator PowerLight for $265 million in a 40%/60% cash/stock deal
* We see forward integration move as value-added
and giving SPWR 80% exposure to the solar value
chain; boosts SunPower sales/earns growth rates
* PowerLight adds financing, dist'n, and
install'n resources to SPWR's core competency of
high effic. cells and automated panel ops;
PowerLight has >50 patents globally, resulting in
increased R&D capabilities, linking product
develop't activities to the end user at lower
overall solar system installed cost
* With the addition of PowerLight and after the
recent analyst meeting, SPWR has laid the
foundation and plan to execute on reducing the
total solar system cost by 50% by 2012 in order
to achieve its vision of costs at retail grid
parity
* Reiterate Buy/Speculative rating and $55 target
price

[ScottishTrader]

Picked up some SunPower today at 38.13 and I'm already feeling the POWER!!!

Broke out from 38.40 resistance and looking nice    Just hit a high of 39.67!  $42 really ain't so far away...

[ScottishTrader]

Super day for SPWR.  After a little early lull (in which I managed to pick up some shares) it went off to the races, confirming the previous day's pennant breakout.  Closed strongly, bang on the $40 level.  I'm beginning to like those Citibank guys price target of $52, but I will make sure to stick with my plan and take partial profits around $42.

Is this one on anyone else's radar???  Lovely chart...

[ScottishTrader]

SPWR was looking so strong on Wednesday, but it couldn't hold those gains and pulled back some on Friday.  I think there may be a possible ascending triangle developing, as $40 represents significant resistance, and we have 3 tags of a trendline on the daily chart.  Its only a hunch, but I think it could take a little to get through and we may see a few days consolidation in the $37-40 level.  Looks like there should be some support at 38.40 and around 38.00-38.10.  There is also an open gap between 37.02 and 37.72 which may want to get filled (although the intraday wicks covered this gap, it didn't get filled after the gap up).  I am maintaining my position for now and a stop just below 36.50.

[ScottishTrader]

Well its been a while since my last post on this thread (but it doesn't seem like anyone else is following this one anyway).  Since then, SPWR formed a nice flag consolidation through december, and then kicked January off with a bang, breaking out of the flag formation and rallying 20% to test all time highs.  It is now at an interesting juncture.  It is formaing a small consolidation pattern between $41 and $44, but if it makes a break of $44 it will be hitting into unknown territory.  It seems like if it does it may be heading towards tha Citibank target of $52.

Of course I missed the mov on this one, and at these heights it is a little risky, so I would like continuation confirmation befor eI enter (or a nice reaction buy around $40 if possible).

[setravis]

SAN JOSE, Calif., April 2, 2008, 2008 /PRNewswire-FirstCall via COMTEX/ -- SunPower Corp. (SPWR, Trade) will announce its first-quarter earnings in a conference call on Thursday, April 17th at 10:30 a.m. Pacific Time. The call-in number is 517-623-4618, passcode SunPower, for interested parties wanting to participate in the quarterly conference call. Additionally, SunPower will host its Annual Stockholders' Meeting on Thursday, May 8th at 12:00 noon Pacific Time at Cypress's headquarters, located at 198 Champion Court in San Jose, Calif.

These events will be web cast and can be accessed from SunPower's web site at http://investors.sunpowercorp.com/events.cfm.

Full text of the press release and supplemental financial information will be made available on the SunPower web site at http://investors.sunpowercorp.com/events.cfm on the morning of the conference call.

About SunPower Corp.

SunPower Corporation (SPWR, Trade) designs, manufactures and delivers high-performance solar electric systems worldwide for residential, commercial and utility-scale power plant customers. SunPower high-efficiency solar cells and solar panels generate up to 50 percent more power than conventional solar technologies and have a uniquely attractive, all-black appearance. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe and Asia. For more information, visit http://www.sunpowercorp.com. SunPower is a majority-owned subsidiary of Cypress Semiconductor Corp. (CY, Trade).

SunPower is a registered trademark of SunPower Corp. Cypress is a registered trademark of Cypress Semiconductor Corp. All other trademarks are the property of their respective owners.

SOURCE SunPower Corporation



http://www.sunpowercorp.com 

Copyright (C) 2008 PR Newswire. All rights reserved

[Ares]

Well its been a while since my last post on this thread (but it doesn't seem like anyone else is following this one anyway).  Since then, SPWR formed a nice flag consolidation through december, and then kicked January off with a bang, breaking out of the flag formation and rallying 20% to test all time highs.  It is now at an interesting juncture.  It is formaing a small consolidation pattern between $41 and $44, but if it makes a break of $44 it will be hitting into unknown territory.  It seems like if it does it may be heading towards tha Citibank target of $52.

Of course I missed the mov on this one, and at these heights it is a little risky, so I would like continuation confirmation befor eI enter (or a nice reaction buy around $40 if possible).

Scottish, it sure looks like it did go to "unknown territory" after it passed 44