SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $58.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective lowered by equities research analysts at Canaccord Genuity Group from $75.00 to $58.00 in a report released on Thursday, Benzinga reports. The firm currently has a “hold” rating on the semiconductor company’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 10.12% from the company’s current price.

Several other research analysts have also commented on SEDG. B. Riley dropped their price target on SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Northland Securities lowered shares of SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday. Susquehanna dropped their price target on SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating on the stock in a research report on Friday, April 5th. TD Cowen lowered their price objective on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Roth Mkm cut their target price on shares of SolarEdge Technologies from $76.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $93.73.

SolarEdge Technologies Price Performance

SEDG traded down $4.88 during trading on Thursday, reaching $52.67. 6,388,817 shares of the company traded hands, compared to its average volume of 2,386,478. The company has a market cap of $3.02 billion, a P/E ratio of 118.33 and a beta of 1.53. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. SolarEdge Technologies has a 12-month low of $51.65 and a 12-month high of $315.34. The firm has a fifty day simple moving average of $64.59 and a 200 day simple moving average of $74.00.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.01) by $0.60. The firm 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%. On average, equities analysts forecast that SolarEdge Technologies will post -4.68 EPS for the current year.

Insider Transactions at SolarEdge Technologies

In other news, Director More Avery acquired 7,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was acquired at an average price 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 in the company, valued at approximately $5,246,966.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

A number of institutional investors have recently added to or reduced their stakes in SEDG. NBC Securities Inc. acquired a new position in SolarEdge Technologies during the third quarter worth $25,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of SolarEdge Technologies by 194.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 183 shares during the last quarter. Manchester Capital Management LLC lifted its stake in SolarEdge Technologies by 1,345.0% in the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 269 shares in the last quarter. GAMMA Investing LLC acquired a new stake in SolarEdge Technologies in the 4th quarter worth about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in SolarEdge Technologies by 4,000.0% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 410 shares of the semiconductor company’s stock worth $53,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

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.