Susquehanna Downgrades SolarEdge Technologies (NASDAQ:SEDG) to Neutral

SolarEdge Technologies (NASDAQ:SEDGGet Free Report) was downgraded by equities researchers at Susquehanna from a “positive” rating to a “neutral” rating in a report issued on Monday, Marketbeat.com reports. They presently have a $56.00 target price on the semiconductor company’s stock, down from their previous target price of $92.00. Susquehanna’s price target points to a potential upside of 4.19% from the stock’s previous close.

Several other equities analysts have also commented on the company. Royal Bank of Canada lowered their price objective on SolarEdge Technologies from $74.00 to $71.00 and set a “sector perform” rating for the company in a research report on Thursday, May 9th. Canaccord Genuity Group decreased their target price on shares of SolarEdge Technologies from $75.00 to $58.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Scotiabank cut their price target on SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 21st. BMO Capital Markets dropped their target price on SolarEdge Technologies from $73.00 to $56.00 and set a “market perform” rating on the stock in a report on Thursday, May 9th. Finally, Mizuho lowered their price target on SolarEdge Technologies from $104.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Four analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $87.12.

Read Our Latest Research Report on SolarEdge Technologies

SolarEdge Technologies Stock Up 2.9 %

Shares of SolarEdge Technologies stock opened at $53.75 on Monday. The company’s fifty day simple moving average is $63.36 and its two-hundred day simple moving average is $73.10. SolarEdge Technologies has a 12-month low of $48.82 and a 12-month high of $313.55. The company has a current ratio of 4.54, a quick ratio of 2.19 and a debt-to-equity ratio of 0.30. The company has a market cap of $3.08 billion, a P/E ratio of -11.56 and a beta of 1.53.

SolarEdge Technologies (NASDAQ:SEDGGet Free Report) last released 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. The company had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. Research analysts anticipate that SolarEdge Technologies will post -4.68 EPS for the current year.

Insider Transactions at SolarEdge Technologies

In other news, Director More Avery bought 7,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were bought at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the purchase, the director now owns 77,446 shares in the company, valued at $5,246,966.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

Large investors have recently made changes to their positions in the business. Baillie Gifford & Co. boosted its stake in 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 during the period. Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of SolarEdge Technologies by 108.5% during 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 acquiring an additional 778,034 shares during the last quarter. Invenomic Capital Management LP purchased a new position in SolarEdge Technologies during the fourth quarter valued at $42,644,000. Norges Bank bought a new stake in SolarEdge Technologies in the 4th quarter valued at $39,547,000. Finally, Impax Asset Management Group plc boosted its holdings in shares of SolarEdge Technologies by 46.3% during the 3rd quarter. Impax Asset Management Group plc now owns 939,386 shares of the semiconductor company’s stock valued at $121,067,000 after purchasing an additional 297,089 shares during the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Company Profile

(Get Free Report)

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.

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