SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $84.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price reduced by investment analysts at Mizuho from $104.00 to $84.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Mizuho’s price target points to a potential upside of 59.48% from the company’s current price.

A number of other brokerages also recently issued reports on SEDG. Citigroup lowered their price target on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday. 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 price target for the company. Northland Securities cut shares of SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday. Scotiabank dropped their price objective on SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 21st. Finally, Piper Sandler decreased their target price on SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Four equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.15.

SolarEdge Technologies Stock Down 8.5 %

SEDG opened at $52.67 on Friday. The company’s 50-day moving average price is $64.30 and its two-hundred day moving average price is $73.85. 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 has a twelve month low of $51.65 and a twelve month high of $315.34. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 117.04 and a beta of 1.53.

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, beating analysts’ consensus estimates of ($2.01) by $0.60. The business had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. As a group, equities analysts expect that SolarEdge Technologies will post -4.68 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of SolarEdge Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Altshuler Shaham Ltd lifted its holdings in shares of SolarEdge Technologies by 143.8% during the third quarter. Altshuler Shaham Ltd now owns 20,856 shares of the semiconductor company’s stock valued at $2,701,000 after purchasing an additional 12,302 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of SolarEdge Technologies by 20,293.3% in the fourth quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock worth $9,716,000 after acquiring an additional 103,293 shares during the period. Royal London Asset Management Ltd. raised its holdings in shares of SolarEdge Technologies by 5.4% during the third quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company’s stock valued at $2,782,000 after purchasing an additional 1,101 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its position in SolarEdge Technologies by 250.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 500 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in SolarEdge Technologies by 129.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 205,814 shares of the semiconductor company’s stock worth $19,264,000 after purchasing an additional 116,176 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Company Profile

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.