Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its stake in shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXNFree Report) by 96.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,085 shares of the company’s stock after buying an additional 10,865 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Maxeon Solar Technologies were worth $256,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MAXN. Invesco Ltd. boosted its stake in shares of Maxeon Solar Technologies by 3.0% in the first quarter. Invesco Ltd. now owns 3,011,818 shares of the company’s stock valued at $43,611,000 after purchasing an additional 87,838 shares during the period. BlackRock Inc. raised its holdings in Maxeon Solar Technologies by 35.2% in the second quarter. BlackRock Inc. now owns 1,902,209 shares of the company’s stock valued at $53,566,000 after acquiring an additional 494,825 shares in the last quarter. Schroder Investment Management Group raised its holdings in Maxeon Solar Technologies by 75.6% in the second quarter. Schroder Investment Management Group now owns 1,242,428 shares of the company’s stock valued at $34,987,000 after acquiring an additional 534,945 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Maxeon Solar Technologies by 207.1% in the second quarter. Driehaus Capital Management LLC now owns 1,097,612 shares of the company’s stock valued at $30,909,000 after acquiring an additional 740,252 shares in the last quarter. Finally, State Street Corp raised its holdings in Maxeon Solar Technologies by 2.7% in the first quarter. State Street Corp now owns 909,932 shares of the company’s stock valued at $24,150,000 after acquiring an additional 23,642 shares in the last quarter.

Maxeon Solar Technologies Stock Up 1.1 %

MAXN stock opened at $4.81 on Friday. The company has a fifty day moving average price of $5.41 and a 200 day moving average price of $9.82. Maxeon Solar Technologies, Ltd. has a 12 month low of $3.91 and a 12 month high of $38.91. The company has a market cap of $252.67 million, a price-to-earnings ratio of -1.33 and a beta of 1.57. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.62 and a quick ratio of 0.88.

Maxeon Solar Technologies (NASDAQ:MAXNGet Free Report) last released its quarterly earnings results on Wednesday, November 15th. The company reported ($2.21) EPS for the quarter, missing the consensus estimate of ($0.86) by ($1.35). Maxeon Solar Technologies had a negative net margin of 13.56% and a negative return on equity of 115.75%. The business had revenue of $227.60 million during the quarter, compared to analysts’ expectations of $226.85 million. During the same quarter last year, the company earned ($1.09) EPS. The firm’s revenue for the quarter was down 17.4% compared to the same quarter last year. Sell-side analysts expect that Maxeon Solar Technologies, Ltd. will post -3.93 earnings per share for the current year.

Wall Street Analyst Weigh In

MAXN has been the topic of several analyst reports. Northland Securities cut shares of Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $25.00 to $7.00 in a report on Thursday, November 16th. The Goldman Sachs Group reduced their price objective on shares of Maxeon Solar Technologies from $18.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, December 18th. Raymond James reduced their price objective on shares of Maxeon Solar Technologies from $20.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday, November 16th. Morgan Stanley reduced their price objective on shares of Maxeon Solar Technologies from $14.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, December 8th. Finally, Bank of America downgraded shares of Maxeon Solar Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $31.00 to $12.00 in a research report on Monday, October 16th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $8.13.

Read Our Latest Report on Maxeon Solar Technologies

Maxeon Solar Technologies Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Maxeon Solar Technologies (NASDAQ:MAXN)

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