Brokerages Set SolarEdge Technologies, Inc. (NASDAQ:SEDG) PT at $98.38

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has been assigned an average recommendation of “Hold” from the thirty research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $98.38.

A number of brokerages have recently commented on SEDG. Royal Bank of Canada cut their price target on SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Wednesday, February 21st. Janney Montgomery Scott lowered SolarEdge Technologies from a “buy” rating to a “neutral” rating in a report on Friday, March 22nd. Barclays upped their price target on SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Mizuho cut their price target on SolarEdge Technologies from $106.00 to $104.00 and set a “buy” rating for the company in a report on Friday, April 19th. Finally, TD Cowen lowered their price objective on SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st.

Insider Activity

In other SolarEdge Technologies news, Director More Avery bought 7,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was bought at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the purchase, the director now owns 77,446 shares in the company, valued at approximately $5,246,966.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.17% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in SolarEdge Technologies in the third quarter valued at about $25,000. Manchester Capital Management LLC boosted its holdings in SolarEdge Technologies by 1,345.0% in the fourth quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 269 shares during the last quarter. GAMMA Investing LLC bought a new position in SolarEdge Technologies during the fourth quarter worth about $30,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in SolarEdge Technologies by 194.7% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock worth $36,000 after buying an additional 183 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in SolarEdge Technologies by 1,066.7% during the first quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock worth $50,000 after buying an additional 640 shares during the last quarter. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Stock Up 1.3 %

SEDG opened at $60.45 on Friday. The business has a 50 day moving average price of $65.11 and a 200 day moving average price of $74.67. SolarEdge Technologies has a twelve month low of $53.59 and a twelve month high of $315.34. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. The firm has a market cap of $3.46 billion, a P/E ratio of 134.33 and a beta of 1.53.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $319.97 million. Research analysts forecast that SolarEdge Technologies will post -4.68 EPS for the current year.

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.