SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $60.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective reduced by Roth Mkm from $76.00 to $60.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Roth Mkm’s price objective would indicate a potential upside of 4.26% from the company’s previous close.

SEDG has been the subject of a number of other research reports. Wells Fargo & Company decreased their price target on shares of SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating for the company in a research note on Thursday, February 22nd. The Goldman Sachs Group lowered their target price on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating on the stock in a report on Wednesday, January 24th. TD Cowen cut their price target on SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Canaccord Genuity Group initiated coverage on SolarEdge Technologies in a report on Tuesday, January 16th. They issued a “hold” rating and a $80.00 target price on the stock. Finally, Susquehanna decreased their price target on SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating for the company in a report on Friday, April 5th. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $97.62.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $57.55 on Tuesday. The firm has a market capitalization of $3.30 billion, a P/E ratio of 127.89 and a beta of 1.53. 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. SolarEdge Technologies has a 1-year low of $53.59 and a 1-year high of $315.34.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share 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 business had revenue of $316.04 million for the quarter, compared to the consensus estimate of $319.97 million. Equities research analysts anticipate that SolarEdge Technologies will post -4.68 earnings per share for the current fiscal year.

Insider Activity

In related news, Director More Avery bought 7,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were acquired at an average cost of $67.75 per share, with a total value of $474,250.00. Following the completion of the purchase, the director now directly owns 77,446 shares of the company’s stock, valued at approximately $5,246,966.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SEDG. Baillie Gifford & Co. boosted its holdings in shares of SolarEdge Technologies by 89.3% in 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 in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted 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 worth $193,626,000 after buying an additional 778,034 shares in the last quarter. Invenomic Capital Management LP bought a new position in SolarEdge Technologies during the fourth quarter valued at approximately $42,644,000. Norges Bank purchased a new position in shares of SolarEdge Technologies during the fourth quarter worth approximately $39,547,000. Finally, Impax Asset Management Group plc lifted its holdings in shares of SolarEdge Technologies by 46.3% in the 3rd quarter. Impax Asset Management Group plc now owns 939,386 shares of the semiconductor company’s stock worth $121,067,000 after acquiring an additional 297,089 shares during the last quarter. 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.