SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $380.00 at Needham & Company LLC

SolarEdge Technologies (NASDAQ:SEDGGet Rating) had its price objective lowered by research analysts at Needham & Company LLC from $390.00 to $380.00 in a research note issued on Wednesday, Marketbeat.com reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target suggests a potential upside of 22.89% from the company’s previous close.

Several other research firms have also recently issued reports on SEDG. BMO Capital Markets cut their price objective on shares of SolarEdge Technologies from $405.00 to $372.00 in a research report on Tuesday, May 3rd. StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a research report on Saturday, July 2nd. TheStreet cut shares of SolarEdge Technologies from a “b” rating to a “c” rating in a research report on Monday, May 2nd. Stephens began coverage on shares of SolarEdge Technologies in a research note on Wednesday, April 13th. They set an “overweight” rating and a $490.00 target price for the company. Finally, Oppenheimer raised shares of SolarEdge Technologies from a “market perform” rating to an “outperform” rating and set a $334.00 target price for the company in a research note on Thursday, June 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $357.32.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock opened at $309.22 on Wednesday. SolarEdge Technologies has a 12-month low of $200.86 and a 12-month high of $389.71. The stock has a market cap of $17.13 billion, a P/E ratio of 120.79, a PEG ratio of 2.72 and a beta of 1.15. The company has a 50-day moving average price of $288.74 and a 200 day moving average price of $279.14. The company has a current ratio of 4.33, a quick ratio of 3.57 and a debt-to-equity ratio of 0.34.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last released its quarterly earnings data on Monday, May 2nd. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.18). SolarEdge Technologies had a return on equity of 9.27% and a net margin of 5.78%. The firm had revenue of $655.08 million for the quarter, compared to analyst estimates of $634.70 million. Sell-side analysts anticipate that SolarEdge Technologies will post 4.7 earnings per share for the current year.

Insiders Place Their Bets

In other SolarEdge Technologies news, insider Meir Adest sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $263.61, for a total transaction of $1,318,050.00. Following the sale, the insider now owns 186,057 shares of the company’s stock, valued at $49,046,485.77. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other SolarEdge Technologies news, VP Rachel Prishkolnik sold 1,900 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $301.58, for a total transaction of $573,002.00. Following the sale, the vice president now owns 12,581 shares of the company’s stock, valued at $3,794,177.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Meir Adest sold 5,000 shares of SolarEdge Technologies stock in a transaction on Monday, June 13th. The shares were sold at an average price of $263.61, for a total transaction of $1,318,050.00. Following the completion of the transaction, the insider now directly owns 186,057 shares in the company, valued at $49,046,485.77. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,613 shares of company stock valued at $3,007,896. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors have recently modified their holdings of SEDG. Janney Montgomery Scott LLC increased its holdings in shares of SolarEdge Technologies by 30.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 7,171 shares of the semiconductor company’s stock valued at $2,012,000 after acquiring an additional 1,686 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of SolarEdge Technologies in the 4th quarter valued at $937,000. Yousif Capital Management LLC acquired a new position in shares of SolarEdge Technologies in the 4th quarter valued at $2,061,000. Dupont Capital Management Corp increased its holdings in shares of SolarEdge Technologies by 1,153.8% in the 4th quarter. Dupont Capital Management Corp now owns 2,144 shares of the semiconductor company’s stock valued at $602,000 after acquiring an additional 1,973 shares during the period. Finally, Chevy Chase Trust Holdings Inc. acquired a new position in shares of SolarEdge Technologies in the 4th quarter valued at $8,837,000. 75.73% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Company Profile

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SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.

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