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

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

SEDG has been the subject of a number of other research reports. Truist Financial reduced their target price on SolarEdge Technologies from $80.00 to $75.00 and set a hold rating for the company in a report on Thursday, February 22nd. B. Riley cut their price objective on SolarEdge Technologies from $166.00 to $133.00 and set a buy rating for the company in a report on Monday, February 5th. TD Cowen cut their price objective on SolarEdge Technologies from $120.00 to $100.00 and set an outperform rating for the company in a report on Wednesday, February 21st. BMO Capital Markets cut their price objective on SolarEdge Technologies from $85.00 to $80.00 and set a market perform rating for the company in a report on Wednesday, February 21st. Finally, The Goldman Sachs Group cut their price objective on SolarEdge Technologies from $83.00 to $71.00 and set a sell rating for the company in a report on Wednesday, January 24th. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies presently has an average rating of Hold and a consensus target price of $98.73.

SolarEdge Technologies Trading Down 2.8 %

Shares of SolarEdge Technologies stock opened at $55.80 on Friday. SolarEdge Technologies has a 52-week low of $55.37 and a 52-week high of $321.61. The stock’s 50-day simple moving average is $69.40 and its 200 day simple moving average is $79.81. The stock has a market capitalization 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 (NASDAQ:SEDG) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. The business had revenue of $316.04 million during the quarter, compared to analyst estimates of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. As a group, research analysts anticipate that SolarEdge Technologies will post -4.04 EPS for the current year.

Insider Activity at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery bought 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was bought at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the acquisition, the director now directly owns 77,446 shares in the company, valued at $5,246,966.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in SolarEdge Technologies during the third quarter valued at $25,000. Quarry LP purchased a new position in SolarEdge Technologies during the first quarter valued at $27,000. Manchester Capital Management LLC lifted its position in SolarEdge Technologies by 1,345.0% during 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 during the period. Harbour Investments Inc. lifted its position in SolarEdge Technologies by 102.0% during 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 during the period. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of SolarEdge Technologies during 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.