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

SolarEdge Technologies (NASDAQ:SEDG) had its price objective decreased by stock analysts at Mizuho from $106.00 to $104.00 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 objective indicates a potential upside of 85.05% from the stock’s previous close.

Several other analysts also recently commented on SEDG. TD Cowen lowered their price objective on SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Susquehanna decreased their price target on SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating for the company in a research report on Friday, April 5th. The Goldman Sachs Group decreased their price target on SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a research report on Wednesday, January 24th. Barclays increased their price target on SolarEdge Technologies from $50.00 to $61.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, Janney Montgomery Scott downgraded SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, March 22nd. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $98.73.

SolarEdge Technologies Stock Performance

Shares of SEDG traded down $1.19 during mid-day trading on Friday, reaching $56.20. The company’s stock had a trading volume of 870,188 shares, compared to its average volume of 2,382,301. SolarEdge Technologies has a 1-year low of $56.00 and a 1-year high of $321.61. The stock has a market cap of $3.21 billion, a P/E ratio of 125.56 and a beta of 1.51. The business has a 50-day simple moving average of $69.84 and a two-hundred day simple moving average of $80.28. 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 (NASDAQ:SEDG) last released its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, topping the consensus estimate of ($2.01) by $0.60. The business had revenue of $316.04 million during 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 research analysts anticipate that SolarEdge Technologies will post -4.04 earnings per share for the current fiscal year.

Insider Activity at SolarEdge Technologies

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

Institutional Investors Weigh In On SolarEdge Technologies

Several institutional investors and hedge funds have recently made changes to their positions in SEDG. NBC Securities Inc. acquired a new stake in shares of SolarEdge Technologies during the third quarter worth $25,000. Manchester Capital Management LLC lifted its stake in shares of SolarEdge Technologies by 1,345.0% during the fourth quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock worth $27,000 after buying an additional 269 shares during the period. Quarry LP acquired a new stake in shares of SolarEdge Technologies during the first quarter worth $27,000. Harbour Investments Inc. lifted its stake in shares of SolarEdge Technologies by 102.0% during the fourth quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock worth $28,000 after buying an additional 50 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of SolarEdge Technologies during the first quarter worth $29,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.