SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $124.00 by Analysts at B. Riley

SolarEdge Technologies (NASDAQ:SEDG) had its price target reduced by B. Riley from $133.00 to $124.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on SEDG. The Goldman Sachs Group decreased their price target on SolarEdge Technologies from $83.00 to $71.00 and set a sell rating on the stock in a report on Wednesday, January 24th. Susquehanna dropped their price target on SolarEdge Technologies from $97.00 to $92.00 and set a positive rating for the company in a research note on Friday, April 5th. Barclays lifted their price objective on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the company an underweight rating in a research report on Tuesday, April 16th. Citigroup dropped their target price on shares of SolarEdge Technologies from $89.00 to $83.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Finally, BMO Capital Markets decreased their price target on shares of SolarEdge Technologies from $85.00 to $80.00 and set a market perform rating on the stock in a research note on Wednesday, February 21st. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, SolarEdge Technologies has an average rating of Hold and a consensus target price of $98.38.

SolarEdge Technologies Stock Down 2.3 %

NASDAQ SEDG opened at $54.51 on Monday. The stock’s 50-day moving average price is $68.82 and its 200-day moving average price is $78.74. The company has a market capitalization of $3.11 billion, a P/E ratio of 121.13 and a beta of 1.51. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28. SolarEdge Technologies has a 52 week low of $53.59 and a 52 week high of $321.33.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, topping analysts’ consensus estimates of ($2.01) by $0.60. The company had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. On average, equities research analysts predict that SolarEdge Technologies will post -4.11 earnings per share for the current year.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of SolarEdge Technologies stock in a transaction dated Thursday, February 29th. The shares were purchased at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the acquisition, the director now 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 available at this hyperlink. Company insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in SolarEdge Technologies by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock worth $327,566,000 after acquiring an additional 92,230 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of SolarEdge Technologies by 89.3% in the third quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock valued at $229,298,000 after purchasing an additional 835,290 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew 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 purchasing an additional 778,034 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in SolarEdge Technologies by 10.0% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 984,901 shares of the semiconductor company’s stock worth $92,210,000 after purchasing an additional 89,279 shares during the period. Finally, Impax Asset Management Group plc raised its position in SolarEdge Technologies by 1.6% during the 4th quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company’s stock valued at $88,890,000 after purchasing an additional 14,878 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.