SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives $98.38 Average Price Target from Brokerages

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has earned an average recommendation of “Hold” from the thirty brokerages that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $98.38.

Several research analysts have commented on SEDG shares. Susquehanna lowered their price target on shares of SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating for the company in a report on Friday, April 5th. DZ Bank began coverage on shares of SolarEdge Technologies in a research report on Wednesday, April 17th. They set a “hold” rating and a $62.00 price objective for the company. Truist Financial reduced their price objective on shares of SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Thursday, February 22nd. Citigroup reduced their price target 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, Piper Sandler reduced their price target on shares of SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st.

Insider Transactions at SolarEdge Technologies

In related news, Director More Avery acquired 7,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were acquired at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the acquisition, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SEDG. NBC Securities Inc. purchased a new position in SolarEdge Technologies in the third quarter valued at approximately $25,000. Manchester Capital Management LLC raised its holdings in 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 during the period. GAMMA Investing LLC purchased a new position in SolarEdge Technologies in the fourth quarter valued at approximately $30,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in SolarEdge Technologies by 194.7% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 183 shares during the period. Finally, Versant Capital Management Inc raised its holdings in SolarEdge Technologies by 1,066.7% in the first quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 640 shares during the period. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Trading Up 1.3 %

Shares of SEDG stock opened at $60.45 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. The stock has a market capitalization of $3.46 billion, a P/E ratio of 134.33 and a beta of 1.53. The company has a 50 day moving average price of $65.11 and a 200 day moving average price of $74.67. SolarEdge Technologies has a fifty-two week low of $53.59 and a fifty-two week high of $315.34.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data 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 firm had revenue of $316.04 million during 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%. Equities research analysts predict that SolarEdge Technologies will post -4.68 EPS for the current fiscal year.

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.