Susquehanna Has Lowered Expectations for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG) had its target price lowered by research analysts at Susquehanna from $38.00 to $32.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s price objective would suggest a potential downside of 1.63% from the company’s previous close.

Several other equities analysts have also issued reports on SEDG. Morgan Stanley dropped their target price on shares of SolarEdge Technologies from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Friday, September 11th. Wall Street Zen upgraded SolarEdge Technologies from a “sell” rating to a “hold” rating in a report on Sunday. Mizuho lifted their price objective on SolarEdge Technologies from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 11th. Weiss Ratings raised SolarEdge Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. Finally, Barclays decreased their target price on SolarEdge Technologies from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 7th. Two equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $38.73.

SolarEdge Technologies Stock Up 3.3%

Shares of NASDAQ SEDG opened at $32.53 on Wednesday. The company has a market capitalization of $2.00 billion, a P/E ratio of -7.23 and a beta of 1.44. SolarEdge Technologies has a 52-week low of $28.21 and a 52-week high of $81.25. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.38 and a current ratio of 2.03. The company’s 50 day moving average price is $33.04 and its 200-day moving average price is $45.21.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. SolarEdge Technologies had a negative net margin of 20.29% and a negative return on equity of 29.17%. The company had revenue of $346.20 million for the quarter, compared to analyst estimates of $341.15 million. During the same period in the prior year, the firm posted ($0.81) EPS. The company’s quarterly revenue was up 19.6% on a year-over-year basis. Equities analysts forecast that SolarEdge Technologies will post -1.20 earnings per share for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its position in SolarEdge Technologies by 18.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,045 shares of the semiconductor company’s stock valued at $97,000 after acquiring an additional 479 shares in the last quarter. Miller Global Investments LLC boosted its stake in SolarEdge Technologies by 61.2% during the 3rd quarter. Miller Global Investments LLC now owns 5,747 shares of the semiconductor company’s stock valued at $183,000 after purchasing an additional 2,181 shares during the last quarter. State Street Corp boosted its stake in SolarEdge Technologies by 0.7% during the 2nd quarter. State Street Corp now owns 1,761,901 shares of the semiconductor company’s stock valued at $102,965,000 after purchasing an additional 12,188 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in SolarEdge Technologies by 80.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,746 shares of the semiconductor company’s stock worth $1,329,000 after purchasing an additional 10,171 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in SolarEdge Technologies by 16.0% during the 2nd quarter. Tidal Investments LLC now owns 60,526 shares of the semiconductor company’s stock worth $3,537,000 after purchasing an additional 8,330 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

About SolarEdge Technologies

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for generating, storing and managing solar energy. The company is best known for its power optimizer and inverter architecture, which is designed to improve energy harvesting from photovoltaic panels and provide monitoring and control at the module level.

Its product portfolio includes power optimizers, residential and commercial inverters, battery-storage systems, backup-power solutions, electric-vehicle charging equipment and energy-management software.