SolarEdge Technologies (NASDAQ:SEDG) Lowered to Market Perform at Northland Securities

SolarEdge Technologies (NASDAQ:SEDG) was downgraded by investment analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, Briefing.com reports.

SEDG has been the topic of several other reports. Mizuho decreased their price target on shares of SolarEdge Technologies from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Scotiabank lowered their target price on SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 21st. The Goldman Sachs Group cut their price target on SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a report on Wednesday, January 24th. Canaccord Genuity Group restated a “hold” rating and issued a $75.00 target price on shares of SolarEdge Technologies in a report on Wednesday, February 21st. Finally, BMO Capital Markets dropped their price objective on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “market perform” rating for the company in a report on Wednesday, February 21st. Four equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies has an average rating of “Hold” and an average target price of $96.85.

SolarEdge Technologies Trading Down 2.0 %

Shares of SolarEdge Technologies stock opened at $57.55 on Thursday. SolarEdge Technologies has a twelve month low of $53.59 and a twelve month high of $315.34. The firm’s 50-day moving average price is $64.59 and its 200 day moving average price is $74.00. 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 capitalization of $3.30 billion, a PE ratio of 127.89 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) earnings per share (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 firm had revenue of $316.04 million for the quarter, compared to analyst estimates of $319.97 million. On average, sell-side analysts predict that SolarEdge Technologies will post -4.68 EPS for the current fiscal year.

Insider Activity at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery bought 7,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were acquired at an average price of $67.75 per share, with a total value of $474,250.00. Following the transaction, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of SolarEdge Technologies by 3.8% during the third quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock worth $327,566,000 after purchasing an additional 92,230 shares during the last quarter. Baillie Gifford & Co. grew its position in SolarEdge Technologies by 89.3% during the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock worth $229,298,000 after purchasing an additional 835,290 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in SolarEdge Technologies by 108.5% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock valued at $193,626,000 after purchasing an additional 778,034 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of SolarEdge Technologies by 2.3% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,007,934 shares of the semiconductor company’s stock worth $71,543,000 after buying an additional 23,033 shares during the period. Finally, Impax Asset Management Group plc grew its holdings in shares of SolarEdge Technologies by 1.6% during the fourth quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company’s stock worth $88,890,000 after buying an additional 14,878 shares during the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

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.