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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Iys3ad9F+2zTrzAY9hToS8pCrSnwoT/G9kTmIRWwh3NchwW+nARKB7pO299hBsYQ
 WoEeoNP4O24EpcHUyTQvZA==

<SEC-DOCUMENT>0001181431-04-025325.txt : 20040511
<SEC-HEADER>0001181431-04-025325.hdr.sgml : 20040511
<ACCEPTANCE-DATETIME>20040511150714
ACCESSION NUMBER:		0001181431-04-025325
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031219
FILED AS OF DATE:		20040511

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GUYETT ROBERT L
		CENTRAL INDEX KEY:			0001213188

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15477
		FILM NUMBER:		04796180

	BUSINESS ADDRESS:	
		STREET 1:		NEWPORT CORP.
		STREET 2:		1791 DEERE AVE.
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92606

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MAXWELL TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0000319815
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COMPUTERS [3571]
		IRS NUMBER:				952390133
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		8888 BALBOA AVENUE
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92123
		BUSINESS PHONE:		8582795100

	MAIL ADDRESS:	
		STREET 1:		8888 BALBOA AVENUE
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92123

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MAXWELL LABORATORIES INC /DE/
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd42093.xml
<DESCRIPTION>FORM 4_MAY 7, 2004
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2003-12-19</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000319815</issuerCik>
        <issuerName>MAXWELL TECHNOLOGIES INC</issuerName>
        <issuerTradingSymbol>MXWL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001213188</rptOwnerCik>
            <rptOwnerName>GUYETT ROBERT L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9244 BALBOA AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN DIEGO</rptOwnerCity>
            <rptOwnerState></rptOwnerState>
            <rptOwnerZipCode>92123</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>14.30</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-05-07</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>3000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>14.30</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2005-05-07</value>
            </exerciseDate>
            <expirationDate>
                <value>2014-05-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Stock Option (right to buy)</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>27000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <ownerSignature>
        <signatureName>Robert L. Guyett</signatureName>
        <signatureDate>2004-05-11</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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