Barclays Raises SolarEdge Technologies (NASDAQ:SEDG) Price Target to $61.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target lifted by equities research analysts at Barclays from $50.00 to $61.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the semiconductor company’s stock. Barclays‘s price objective points to a potential upside of 2.11% from the company’s previous close.

SEDG has been the topic of a number of other research reports. Citigroup lowered their price objective on shares of SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. TD Cowen dropped their price target on SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. StockNews.com upgraded SolarEdge Technologies to a “sell” rating in a research report on Thursday, December 28th. Scotiabank dropped their target price on SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 21st. Finally, Janney Montgomery Scott downgraded SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, March 22nd. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.81.

SolarEdge Technologies Stock Up 0.4 %

SolarEdge Technologies stock opened at $59.74 on Tuesday. SolarEdge Technologies has a 12 month low of $57.72 and a 12 month high of $322.19. The stock has a fifty day simple moving average of $70.20 and a two-hundred day simple moving average of $80.44. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 132.76 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, topping the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The company had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. Equities analysts predict that SolarEdge Technologies will post -4.04 EPS for the current fiscal year.

Insider Buying and Selling at SolarEdge Technologies

In other news, Director More Avery bought 7,000 shares of SolarEdge Technologies stock in a transaction dated Thursday, February 29th. The shares were purchased 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 owns 77,446 shares of the company’s stock, valued at approximately $5,246,966.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

A number of hedge funds have recently bought and sold shares of the business. Panagora Asset Management Inc. increased its holdings in shares of SolarEdge Technologies by 28.3% in the 1st quarter. Panagora Asset Management Inc. now owns 2,254 shares of the semiconductor company’s stock worth $727,000 after buying an additional 497 shares during the last quarter. Rhumbline Advisers raised its position in SolarEdge Technologies by 2.7% during the first quarter. Rhumbline Advisers now owns 44,407 shares of the semiconductor company’s stock valued at $14,315,000 after purchasing an additional 1,174 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of SolarEdge Technologies by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,027 shares of the semiconductor company’s stock valued at $2,265,000 after purchasing an additional 435 shares during the last quarter. Cibc World Market Inc. boosted its holdings in shares of SolarEdge Technologies by 28.5% in the 1st quarter. Cibc World Market Inc. now owns 4,844 shares of the semiconductor company’s stock worth $1,562,000 after purchasing an additional 1,073 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of SolarEdge Technologies by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 210,973 shares of the semiconductor company’s stock valued at $68,007,000 after purchasing an additional 1,902 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

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.