JPMorgan Chase & Co. Lowers SolarEdge Technologies (NASDAQ:SEDG) Price Target to $299.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective decreased by JPMorgan Chase & Co. from $335.00 to $299.00 in a research note released on Friday, MarketBeat reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor company’s stock.

SEDG has been the subject of several other reports. Oppenheimer lowered their price objective on SolarEdge Technologies from $400.00 to $314.00 and set an outperform rating for the company in a research note on Wednesday, August 2nd. StockNews.com started coverage on SolarEdge Technologies in a research note on Thursday, August 17th. They issued a hold rating for the company. Susquehanna lowered their price objective on SolarEdge Technologies from $365.00 to $305.00 and set a positive rating for the company in a research note on Wednesday, August 2nd. Piper Sandler lowered their price objective on SolarEdge Technologies from $395.00 to $370.00 in a research note on Tuesday, July 18th. Finally, BMO Capital Markets decreased their price target on SolarEdge Technologies from $368.00 to $285.00 and set an outperform rating for the company in a research note on Wednesday, August 2nd. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $321.14.

SolarEdge Technologies Stock Performance

NASDAQ SEDG opened at $136.22 on Friday. The stock has a market capitalization of $7.70 billion, a PE ratio of 26.35, a P/E/G ratio of 0.81 and a beta of 1.41. The business has a 50 day simple moving average of $194.76 and a two-hundred day simple moving average of $255.37. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.84 and a quick ratio of 2.75. SolarEdge Technologies has a 1-year low of $135.87 and a 1-year high of $345.80.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.01. The business had revenue of $991.29 million during the quarter, compared to analysts’ expectations of $989.17 million. SolarEdge Technologies had a return on equity of 18.19% and a net margin of 8.29%. On average, research analysts predict that SolarEdge Technologies will post 7.36 EPS for the current fiscal year.

Insider Activity

In related news, CFO Ronen Faier purchased 875 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average cost of $180.10 per share, for a total transaction of $157,587.50. Following the acquisition, the chief financial officer now owns 73,414 shares of the company’s stock, valued at approximately $13,221,861.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SEDG. Baillie Gifford & Co. grew its stake in SolarEdge Technologies by 2,364.6% during the 1st quarter. Baillie Gifford & Co. now owns 931,431 shares of the semiconductor company’s stock worth $283,108,000 after buying an additional 893,639 shares during the last quarter. UniSuper Management Pty Ltd acquired a new stake in SolarEdge Technologies during the 2nd quarter worth about $129,364,000. Senvest Management LLC lifted its position in SolarEdge Technologies by 124.3% during the 4th quarter. Senvest Management LLC now owns 759,071 shares of the semiconductor company’s stock worth $215,022,000 after acquiring an additional 420,689 shares during the period. Norges Bank acquired a new stake in SolarEdge Technologies during the 4th quarter worth about $115,423,000. Finally, Price T Rowe Associates Inc. MD lifted its position in SolarEdge Technologies by 432.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 395,823 shares of the semiconductor company’s stock worth $120,311,000 after acquiring an additional 321,509 shares during the period. 86.11% of the stock is currently owned by hedge funds and other institutional investors.

About SolarEdge Technologies

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 in Solar and All Other segments. 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.