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

SolarEdge Technologies (NASDAQ:SEDG) had its price objective boosted by Barclays from $50.00 to $61.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Barclays currently has an underweight rating on the semiconductor company’s stock.

A number of other research firms have also issued reports on SEDG. Susquehanna dropped their price objective on shares of SolarEdge Technologies from $97.00 to $92.00 and set a positive rating on the stock in a research note on Friday, April 5th. Mizuho dropped their price objective on shares of SolarEdge Technologies from $119.00 to $106.00 and set a buy rating on the stock in a research note on Thursday, February 22nd. Canaccord Genuity Group reiterated a hold rating and set a $75.00 price objective on shares of SolarEdge Technologies in a research note on Wednesday, February 21st. StockNews.com upgraded shares of SolarEdge Technologies to a sell rating in a research note on Thursday, December 28th. Finally, Scotiabank dropped their price target on shares of SolarEdge Technologies from $93.00 to $90.00 and set a sector perform rating for the company in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $98.81.

SolarEdge Technologies Price Performance

SEDG opened at $57.39 on Tuesday. The company’s 50 day simple moving average is $69.84 and its 200 day simple moving average is $80.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. SolarEdge Technologies has a 1 year low of $57.06 and a 1 year high of $321.61. The stock has a market capitalization of $3.28 billion, a PE ratio of 127.53 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The firm had revenue of $316.04 million for the quarter, compared to analyst estimates of $319.97 million. As a group, sell-side analysts expect that SolarEdge Technologies will post -4.04 EPS for the current year.

Insiders Place Their Bets

In other SolarEdge Technologies news, Director More Avery bought 7,000 shares of the stock in a transaction on Thursday, February 29th. The shares were bought at an average price of $67.75 per share, with a total value of $474,250.00. Following the purchase, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in SolarEdge Technologies by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock valued at $327,566,000 after acquiring an additional 92,230 shares in the last quarter. Baillie Gifford & Co. grew its stake 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 valued at $229,298,000 after buying an additional 835,290 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of SolarEdge Technologies by 108.5% in the 3rd 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 buying an additional 778,034 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of SolarEdge Technologies by 10.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 984,901 shares of the semiconductor company’s stock valued at $92,210,000 after buying an additional 89,279 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of SolarEdge Technologies by 1.4% in the 1st quarter. Geode Capital Management LLC now owns 975,405 shares of the semiconductor company’s stock valued at $295,685,000 after buying an additional 12,999 shares in 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.