Maxeon Solar Stock Price, News & Analysis

Maxeon Solar Technologies (NASDAQ: MAXN) will announce its first quarter 2021 financial results on May 20, 2021. A conference call is scheduled for the same day at 6:00 PM U.S. ET to discuss the results and business updates. The earnings report and supplementary financial information will be accessible on Maxeon's Investor Relations webpage. Interested listeners can join the call via a toll-free number or a simultaneous webcast. Maxeon operates globally with a strong focus on solar innovation, holding over 1,000 patents and offering a diverse range of solar products.

Maxeon Solar Technologies (NASDAQ:MAXN) has partnered with Clean Capital Energy Group (CCE) to supply premium solar panel technology in Austria. This collaboration follows over two years of partnership, enhancing CCE's ability to serve residential and commercial solar customers. CCE has nearly a decade of solar installation experience and manages projects exceeding 2 gigawatts globally. Maxeon's SunPower panels are known for their efficiency and reliability, addressing common solar installation challenges. This partnership aims to capitalize on Austria's strong renewable policies and growth potential.

Maxeon Solar Technologies (NASDAQ: MAXN) announced the closing of its public offering of 6,944,445 ordinary shares, with underwriters exercising their option to purchase an additional 1,041,666 shares at $18.00 each. Proceeds from this offering will support general corporate purposes, including the expansion of its Performance line and ramping up production for next-generation Maxeon 7. The offering was managed by Morgan Stanley and BofA Securities, with all regulatory filings completed with the SEC.

Maxeon Solar Technologies (NASDAQ: MAXN) announced the successful closing of its public offering, raising $125.0 million by selling ordinary shares at $18.00 per share. Additionally, a private placement to Tianjin Zhonghuan Semiconductor raised approximately $150.8 million in total net proceeds. Funds will be used for general corporate purposes, including expanding the Performance line and ramping production for its next-generation Maxeon 7 series. This move reflects Maxeon’s commitment to enhancing its manufacturing capacity and R&D efforts.

Maxeon Solar Technologies (NASDAQ: MAXN) announced a public offering of $125 million of ordinary shares priced at $18.00 per share, with a 30-day option for underwriters to buy an additional $18.7 million. After expenses, Maxeon expects to net approximately $117.1 million, or $134.9 million if the option is exercised. Additionally, 1.87 million shares will be privately placed with Tianjin Zhonghuan Semiconductor at the public offering price. Proceeds will fund general corporate needs, including expansions and R&D. The offering is set to close by April 20, 2021.

Maxeon Solar Technologies (NASDAQ: MAXN) announced a public offering of up to $125 million in ordinary shares, with an option for underwriters to purchase an additional $18.75 million. Concurrently, Maxeon plans a private placement of up to 1.9 million shares with TZS, contingent on the public offering's completion. Proceeds will support operational expansion, including the Performance line and production increases for Maxeon 5 and 6, alongside R&D efforts for Maxeon 7. Morgan Stanley and BofA Securities are leading the offering.

Maxeon Solar Technologies (NASDAQ:MAXN) reported its Q4 and fiscal year 2020 results, showing sequential revenue growth of 12% and 35% in distributed generation and large-scale segments, respectively. Revenue reached $245.6 million, while gross profit was $7.3 million, surpassing expectations due to higher ASPs. CEO Jeff Waters highlighted advancements in Maxeon 7 technology and a strategic focus on the U.S. market. However, the company anticipates losses in Q1 2021, expecting revenue around $160 million and a gross profit loss between $5 million and $15 million due to supply chain challenges.

Maxeon Solar Technologies (NASDAQ:MAXN) is launching an initiative to enhance its position in the U.S. solar market by rolling out up to 3.6 GW of new shingled module assembly capacity. This expansion, set to begin in 2022, hinges on obtaining necessary financing. Maxeon aims to leverage existing supply chain assets, thereby bolstering its sales of Performance line solar panels. The first phase will rapidly deploy 1.8 GW using current facilities, while the second phase anticipates an additional 1.8 GW assembly site in the U.S. aimed at utility-scale and commercial applications.

Maxeon Solar Technologies (NASDAQ: MAXN) has appointed Ralf Elias as Executive Vice President and Global Head of Distributed Generation (DG) Products, effective July 1, 2021. Elias, with over 20 years of experience, will spearhead Maxeon's strategy to grow its DG business, focusing on comprehensive energy solutions that complement their solar panels. CEO Jeff Waters expressed confidence in Elias's ability to enhance their 'Beyond the Panel' strategy, aiming for significant future growth. Maxeon operates globally and emphasizes sustainable solar manufacturing.