Shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN – Get Rating) have received a consensus rating of “Hold” from the six analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $18.20.
Several research analysts recently commented on the company. Zacks Investment Research cut Maxeon Solar Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, March 30th. Morgan Stanley reduced their target price on Maxeon Solar Technologies from $18.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, January 13th.
Several hedge funds and other institutional investors have recently modified their holdings of MAXN. Norges Bank bought a new position in shares of Maxeon Solar Technologies in the fourth quarter valued at about $2,083,000. BlackRock Inc. raised its holdings in shares of Maxeon Solar Technologies by 45.5% in the fourth quarter. BlackRock Inc. now owns 988,061 shares of the company’s stock valued at $13,734,000 after buying an additional 308,999 shares during the last quarter. Vident Investment Advisory LLC raised its holdings in shares of Maxeon Solar Technologies by 45.9% in the fourth quarter. Vident Investment Advisory LLC now owns 27,810 shares of the company’s stock valued at $387,000 after buying an additional 8,752 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Maxeon Solar Technologies by 99.5% in the fourth quarter. Deutsche Bank AG now owns 3,357 shares of the company’s stock valued at $46,000 after buying an additional 1,674 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Maxeon Solar Technologies by 17,813.6% in the fourth quarter. California State Teachers Retirement System now owns 14,510 shares of the company’s stock valued at $202,000 after buying an additional 14,429 shares during the last quarter. 39.48% of the stock is owned by institutional investors.
Maxeon Solar Technologies (NASDAQ:MAXN – Get Rating) last announced its quarterly earnings data on Thursday, March 24th. The company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.30) by ($0.51). The company had revenue of $221.48 million during the quarter, compared to analyst estimates of $222.96 million. Maxeon Solar Technologies had a negative return on equity of 60.80% and a negative net margin of 32.49%. During the same quarter in the previous year, the business posted $0.11 EPS. On average, sell-side analysts expect that Maxeon Solar Technologies will post -4.18 EPS for the current fiscal year.
Maxeon Solar Technologies Company Profile (Get Rating)
Maxeon Solar Technologies, Ltd. designs, manufactures, markets, and sells solar panels and related solar system components worldwide. The company provides interdigitated back contact and shingled solar cells and panels under the SunPower brand. It offers its products to dealers, project developers, system integrators, distributors, resellers, and residential and small-scale commercial customers.
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