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

Analyst Price Forecast Suggests 76.58% Upside

As of August 2, 2023, the average one-year price target for Maxeon Solar Technologies is 39.34. The forecasts range from a low of 30.30 to a high of $47.25. The average price target represents an increase of 76.58% from its latest reported closing price of 22.28.

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The projected annual revenue for Maxeon Solar Technologies is 1,588MM, an increase of 25.47%. The projected annual non-GAAP EPS is -2.56.

What is the Fund Sentiment?

There are 236 funds or institutions reporting positions in Maxeon Solar Technologies. This is an increase of 27 owner(s) or 12.92% in the last quarter. Average portfolio weight of all funds dedicated to MAXN is 0.36%, an increase of 109.93%. Total shares owned by institutions increased in the last three months by 0.92% to 28,858K shares. The put/call ratio of MAXN is 0.32, indicating a bullish outlook.

What are Other Shareholders Doing?

VISAX – Virtus KAR International Small-Cap Fund holds 6,878K shares representing 12.73% ownership of the company. No change in the last quarter.

Wellington Management Group Llp holds 1,955K shares representing 3.62% ownership of the company. In it’s prior filing, the firm reported owning 1,976K shares, representing a decrease of 1.07%. The firm increased its portfolio allocation in MAXN by 61.60% over the last quarter.

AnglePoint Asset Management holds 1,280K shares representing 2.37% ownership of the company. In it’s prior filing, the firm reported owning 693K shares, representing an increase of 45.86%. The firm increased its portfolio allocation in MAXN by 69.93% over the last quarter.

Millennium Management holds 1,258K shares representing 2.33% ownership of the company. In it’s prior filing, the firm reported owning 196K shares, representing an increase of 84.42%. The firm increased its portfolio allocation in MAXN by 999.12% over the last quarter.

Invesco holds 1,257K shares representing 2.33% ownership of the company. In it’s prior filing, the firm reported owning 1,939K shares, representing a decrease of 54.34%. The firm increased its portfolio allocation in MAXN by 1.98% 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.

This article originally appeared on Fintel

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