Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 108,070 shares of the company’s stock, valued at approximately $1,736,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.24% of Maxeon Solar Technologies as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently made changes to their positions in MAXN. Envestnet Asset Management Inc. boosted its holdings in Maxeon Solar Technologies by 4.6% in the third quarter. Envestnet Asset Management Inc. now owns 12,884 shares of the company’s stock valued at $306,000 after acquiring an additional 566 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Maxeon Solar Technologies by 19.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,048 shares of the company’s stock valued at $81,000 after acquiring an additional 830 shares during the last quarter. North Star Investment Management Corp. boosted its holdings in Maxeon Solar Technologies by 25.0% in the fourth quarter. North Star Investment Management Corp. now owns 5,000 shares of the company’s stock valued at $80,000 after acquiring an additional 1,000 shares during the last quarter. Swiss National Bank boosted its holdings in Maxeon Solar Technologies by 2.9% in the fourth quarter. Swiss National Bank now owns 59,700 shares of the company’s stock valued at $959,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Maxeon Solar Technologies by 3.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 54,017 shares of the company’s stock valued at $1,284,000 after acquiring an additional 1,988 shares during the last quarter. Institutional investors own 56.08% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on MAXN. The Goldman Sachs Group raised their target price on Maxeon Solar Technologies from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, March 9th. Roth Mkm raised their target price on Maxeon Solar Technologies from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, March 8th. Northland Securities raised their target price on Maxeon Solar Technologies from $31.00 to $40.00 in a report on Wednesday, May 17th. Raymond James raised their price target on Maxeon Solar Technologies from $30.00 to $34.00 in a research report on Thursday, May 11th. Finally, Morgan Stanley raised their price target on Maxeon Solar Technologies from $21.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, April 3rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Maxeon Solar Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.83.
Maxeon Solar Technologies Stock Performance
Maxeon Solar Technologies (NASDAQ:MAXN – Get Rating) last posted its quarterly earnings results on Tuesday, March 7th. The company reported ($1.84) earnings per share for the quarter, missing the consensus estimate of ($1.25) by ($0.59). The company had revenue of $323.50 million for the quarter, compared to analyst estimates of $314.88 million. Maxeon Solar Technologies had a negative return on equity of 178.57% and a negative net margin of 16.27%. Analysts predict that Maxeon Solar Technologies, Ltd. will post -0.73 EPS for the current year.
Maxeon Solar Technologies Company Profile
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.
Featured Articles
- Get a free copy of the StockNews.com research report on Maxeon Solar Technologies (MAXN)
- MarketBeat Week in Review – 5/22 – 5/26
- Big Lots Becomes A Stomach Churning Value Play
- The Melt-Up In Marvell Is On; But Don’t Chase It Higher
- Is Apple a Growth Stock or a Value Stock?
- Costco’s Earnings Call Reassure Economists, Recession Cancelled
Receive News & Ratings for Maxeon Solar Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maxeon Solar Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
