News

Fintel reports that on May 11, 2023, Goldman Sachs maintained coverage of Maxeon Solar Technologies (NASDAQ:MAXN) with a Buy recommendation.

Analyst Price Forecast Suggests 10.50% Upside

As of May 11, 2023, the average one-year price target for Maxeon Solar Technologies is 30.94. The forecasts range from a low of 21.21 to a high of $38.85. The average price target represents an increase of 10.50% from its latest reported closing price of 28.00.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Maxeon Solar Technologies is 1,588MM, an increase of 37.45%. The projected annual non-GAAP EPS is -2.56.

What is the Fund Sentiment?

There are 209 funds or institutions reporting positions in Maxeon Solar Technologies. This is an increase of 5 owner(s) or 2.45% in the last quarter. Average portfolio weight of all funds dedicated to MAXN is 0.17%, a decrease of 42.12%. Total shares owned by institutions decreased in the last three months by 11.16% to 28,594K shares.

The put/call ratio of MAXN is 0.60, indicating a bullish outlook.

What are Other Shareholders Doing?

VISAX - Virtus KAR International Small-Cap Fund holds 6,878K shares representing 15.26% ownership of the company. In it's prior filing, the firm reported owning 8,800K shares, representing a decrease of 27.94%. The firm decreased its portfolio allocation in MAXN by 4.04% over the last quarter.

ARTJX - Artisan International Small-Mid Fund Investor Shares holds 3,860K shares representing 8.56% ownership of the company. In it's prior filing, the firm reported owning 4,354K shares, representing a decrease of 12.80%. The firm decreased its portfolio allocation in MAXN by 30.52% over the last quarter.

Wellington Management Group Llp holds 1,976K shares representing 4.38% ownership of the company. In it's prior filing, the firm reported owning 1,991K shares, representing a decrease of 0.75%. The firm decreased its portfolio allocation in MAXN by 36.86% over the last quarter.

Invesco holds 1,939K shares representing 4.30% ownership of the company. In it's prior filing, the firm reported owning 2,172K shares, representing a decrease of 12.01%. The firm decreased its portfolio allocation in MAXN by 45.11% over the last quarter.

TAN - Invesco Solar ETF holds 1,084K shares representing 2.41% ownership of the company. In it's prior filing, the firm reported owning 1,151K shares, representing a decrease of 6.19%. The firm decreased its portfolio allocation in MAXN by 11.57% over the last quarter.

Maxeon Solar Technologies Background Information
(This description is provided by the company.)

Maxeon Solar Technologies, Ltd. is Powering Positive Change™. Headquartered in Singapore, Maxeon designs, manufactures and sells SunPower® brand solar panels in more than 100 countries, operating the SunPower brand worldwide except the United States and Canada. Maxeon is a leader in solar innovation with access to over 1,000 patents and two best-in-class solar panel product lines. With operations in Africa, Asia, Oceania, Europe and Mexico, Maxeon's products span the global rooftop and solar power plant markets through a network of more than 1,100 trusted partners and distributors. A pioneer in sustainable solar manufacturing, Maxeon leverages a 35-year history in the solar industry and numerous awards for its technology.

See all Maxeon Solar Technologies regulatory filings.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.