SolarEdge Technologies (NASDAQ:SEDG) Stock Gets Price Target Reduction from Susquehanna

SolarEdge Technologies (NASDAQ:SEDG) had its target price trimmed by Susquehanna from $38.00 to $32.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

Other equities analysts also recently issued research reports about the company. Weiss Ratings upgraded SolarEdge Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. Wells Fargo & Company initiated coverage on shares of SolarEdge Technologies in a report on Monday, June 29th. They issued an “equal weight” rating and a $36.00 price target on the stock. Royal Bank Of Canada lifted their price target on shares of SolarEdge Technologies from $24.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, September 11th. JPMorgan Chase & Co. boosted their price objective on shares of SolarEdge Technologies from $37.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, September 11th. Finally, Barclays decreased their price objective on shares of SolarEdge Technologies from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, October 7th. Two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, SolarEdge Technologies presently has an average rating of “Reduce” and a consensus target price of $38.73.

SolarEdge Technologies Stock Down 0.2%

NASDAQ SEDG opened at $31.36 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.03 and a quick ratio of 1.38. The stock has a market capitalization of $1.93 billion, a PE ratio of -6.97 and a beta of 1.44. SolarEdge Technologies has a 1 year low of $28.21 and a 1 year high of $81.25. The business’s 50-day moving average is $32.94 and its 200 day moving average is $44.83.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. SolarEdge Technologies had a negative return on equity of 29.17% and a negative net margin of 20.29%. The company had revenue of $346.20 million for the quarter, compared to the consensus estimate of $341.15 million. During the same quarter in the previous year, the business earned ($0.81) EPS. SolarEdge Technologies’s revenue was up 19.6% compared to the same quarter last year. Sell-side analysts forecast that SolarEdge Technologies will post -1.20 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vontobel Holding Ltd. lifted its stake in shares of SolarEdge Technologies by 250.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 26,921 shares of the semiconductor company’s stock valued at $858,000 after purchasing an additional 19,231 shares during the period. Farther Finance Advisors LLC raised its holdings in SolarEdge Technologies by 18.7% in the third quarter. Farther Finance Advisors LLC now owns 3,045 shares of the semiconductor company’s stock worth $97,000 after purchasing an additional 479 shares in the last quarter. Miller Global Investments LLC raised its holdings in SolarEdge Technologies by 61.2% in the third quarter. Miller Global Investments LLC now owns 5,747 shares of the semiconductor company’s stock worth $183,000 after purchasing an additional 2,181 shares in the last quarter. State Street Corp raised its holdings in SolarEdge Technologies by 0.7% in the second quarter. State Street Corp now owns 1,761,901 shares of the semiconductor company’s stock worth $102,965,000 after purchasing an additional 12,188 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in SolarEdge Technologies by 80.9% during the second quarter. The Manufacturers Life Insurance Company now owns 22,746 shares of the semiconductor company’s stock valued at $1,329,000 after buying an additional 10,171 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.

About SolarEdge Technologies

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for generating, storing and managing solar energy. The company is best known for its power optimizer and inverter architecture, which is designed to improve energy harvesting from photovoltaic panels and provide monitoring and control at the module level.

Its product portfolio includes power optimizers, residential and commercial inverters, battery-storage systems, backup-power solutions, electric-vehicle charging equipment and energy-management software.