SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $124.00 at B. Riley

SolarEdge Technologies (NASDAQ:SEDG) had its target price cut by B. Riley from $133.00 to $124.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

SEDG has been the topic of a number of other reports. BMO Capital Markets decreased their target price on SolarEdge Technologies from $85.00 to $80.00 and set a market perform rating on the stock in a report on Wednesday, February 21st. Janney Montgomery Scott downgraded shares of SolarEdge Technologies from a buy rating to a neutral rating in a report on Friday, March 22nd. Barclays increased their price objective on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the stock an underweight rating in a research note on Tuesday, April 16th. Canaccord Genuity Group initiated coverage on shares of SolarEdge Technologies in a report on Tuesday, January 16th. They issued a hold rating and a $80.00 target price for the company. Finally, The Goldman Sachs Group lowered their price objective on SolarEdge Technologies from $83.00 to $71.00 and set a sell rating on the stock in a research report on Wednesday, January 24th. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $98.38.

SolarEdge Technologies Stock Performance

SEDG stock opened at $57.86 on Monday. The stock’s 50 day simple moving average is $68.43 and its 200 day simple moving average is $78.27. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. SolarEdge Technologies has a 12-month low of $53.59 and a 12-month high of $317.93. The stock has a market capitalization of $3.31 billion, a PE ratio of 128.58 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The business had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. As a group, research analysts forecast that SolarEdge Technologies will post -4.14 earnings per share for the current fiscal year.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery acquired 7,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was bought at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the transaction, the director now owns 77,446 shares of the company’s stock, valued at approximately $5,246,966.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Several large investors have recently modified their holdings of the business. First Pacific Financial lifted its stake in shares of SolarEdge Technologies by 31.8% in the 1st quarter. First Pacific Financial now owns 3,403 shares of the semiconductor company’s stock valued at $242,000 after purchasing an additional 822 shares during the last quarter. New Mexico Educational Retirement Board acquired a new position in shares of SolarEdge Technologies in the 1st quarter valued at $220,000. Altfest L J & Co. Inc. raised its holdings in shares of SolarEdge Technologies by 24.6% in the 1st quarter. Altfest L J & Co. Inc. now owns 5,056 shares of the semiconductor company’s stock valued at $359,000 after buying an additional 998 shares during the period. Albion Financial Group UT raised its holdings in shares of SolarEdge Technologies by 32.2% in the 1st quarter. Albion Financial Group UT now owns 3,918 shares of the semiconductor company’s stock valued at $278,000 after buying an additional 955 shares during the period. Finally, Hexagon Capital Partners LLC raised its holdings in shares of SolarEdge Technologies by 120.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock valued at $79,000 after buying an additional 610 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.

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.