Mizuho Cuts SolarEdge Technologies (NASDAQ:SEDG) Price Target to $104.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price dropped by stock analysts at Mizuho from $106.00 to $104.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Mizuho’s price target indicates a potential upside of 85.05% from the company’s previous close.

A number of other research analysts also recently issued reports on SEDG. B. Riley dropped their target price on shares of SolarEdge Technologies from $166.00 to $133.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Royal Bank of Canada reduced their price target on shares of SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 21st. Piper Sandler reduced their price target on shares of SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Truist Financial lowered their price target on shares of SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, February 22nd. Finally, Scotiabank reduced their target price on SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating for the company in a report on Wednesday, February 21st. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $98.73.

SolarEdge Technologies Stock Performance

Shares of SEDG traded down $1.19 during trading hours on Friday, hitting $56.20. The company had a trading volume of 870,188 shares, compared to its average volume of 2,382,301. SolarEdge Technologies has a 12 month low of $56.00 and a 12 month high of $321.61. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 125.56 and a beta of 1.51. The business has a fifty day moving average of $69.84 and a 200-day moving average of $80.28. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.01) by $0.60. The firm had revenue of $316.04 million for the quarter, compared to the consensus estimate of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. Equities analysts anticipate that SolarEdge Technologies will post -4.04 EPS for the current fiscal year.

Insider Activity

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the purchase, the director now directly owns 77,446 shares in the company, valued at $5,246,966.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.17% of the company’s stock.

Institutional Trading of SolarEdge Technologies

A number of institutional investors have recently modified their holdings of SEDG. Vanguard Group Inc. boosted its position in shares of SolarEdge Technologies by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock worth $327,566,000 after purchasing an additional 92,230 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of SolarEdge Technologies by 89.3% during the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock worth $229,298,000 after purchasing an additional 835,290 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of SolarEdge Technologies by 108.5% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock worth $193,626,000 after purchasing an additional 778,034 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of SolarEdge Technologies by 10.0% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 984,901 shares of the semiconductor company’s stock worth $92,210,000 after purchasing an additional 89,279 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of SolarEdge Technologies by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 975,405 shares of the semiconductor company’s stock worth $295,685,000 after purchasing an additional 12,999 shares in the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

About SolarEdge Technologies

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.