SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $104.00 by Analysts at Mizuho

SolarEdge Technologies (NASDAQ:SEDG) had its target price cut by Mizuho from $106.00 to $104.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

SEDG has been the subject of several other reports. The Goldman Sachs Group lowered their target price on SolarEdge Technologies from $83.00 to $71.00 and set a sell rating for the company in a report on Wednesday, January 24th. StockNews.com upgraded SolarEdge Technologies to a sell rating in a research note on Thursday, December 28th. Citigroup decreased their price objective on SolarEdge Technologies from $89.00 to $83.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. Canaccord Genuity Group assumed coverage on SolarEdge Technologies in a research report on Tuesday, January 16th. They set a hold rating and a $80.00 target price on the stock. Finally, B. Riley reduced their target price on SolarEdge Technologies from $166.00 to $133.00 and set a buy rating on the stock in a research report on Monday, February 5th. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, SolarEdge Technologies has an average rating of Hold and an average price target of $98.73.

SolarEdge Technologies Stock Performance

NASDAQ SEDG opened at $55.80 on Friday. The business’s 50 day moving average price is $69.40 and its 200-day moving average price is $79.81. The company has a market cap of $3.19 billion, a P/E ratio of 124.00 and a beta of 1.51. 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 fifty-two week low of $55.37 and a fifty-two week high of $321.61.

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

Insider Activity

In other news, Director More Avery bought 7,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were acquired at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the transaction, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

Institutional investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. acquired a new stake in SolarEdge Technologies during the third quarter worth $25,000. Quarry LP acquired a new stake in shares of SolarEdge Technologies in the first quarter valued at $27,000. Manchester Capital Management LLC grew its stake in shares of 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 buying an additional 269 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of SolarEdge Technologies by 102.0% in the fourth quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 50 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new position in SolarEdge Technologies in the first quarter valued at $29,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.

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.