SolarEdge Technologies (NASDAQ:SEDG) Now Covered by Analysts at DZ Bank

DZ Bank initiated coverage on shares of SolarEdge Technologies (NASDAQ:SEDG) in a research note published on Wednesday morning, Marketbeat reports. The brokerage issued a hold rating and a $62.00 price target on the semiconductor company’s stock.

Several other research analysts have also issued reports on the stock. StockNews.com raised shares of SolarEdge Technologies to a sell rating in a research note on Thursday, December 28th. Scotiabank lowered their price objective on shares of SolarEdge Technologies from $93.00 to $90.00 and set a sector perform rating on the stock in a report on Wednesday, February 21st. Barclays upped their price objective on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the stock an underweight rating in a report on Tuesday. Janney Montgomery Scott downgraded shares of SolarEdge Technologies from a buy rating to a neutral rating in a report on Friday, March 22nd. Finally, BMO Capital Markets lowered their price objective on shares of SolarEdge Technologies from $85.00 to $80.00 and set a market perform rating on the stock in a report on Wednesday, February 21st. 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 stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $98.73.

SolarEdge Technologies Trading Down 2.8 %

NASDAQ:SEDG opened at $55.80 on Wednesday. The firm’s fifty day moving average is $69.40 and its 200-day moving average is $79.81. 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 52 week low of $55.37 and a 52 week high of $321.61. The firm has a market cap of $3.19 billion, a P/E ratio of 124.00 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.01) by $0.60. The business had revenue of $316.04 million for the quarter, compared to analyst estimates of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. Equities analysts expect that SolarEdge Technologies will post -4.04 earnings per share for the current year.

Insiders Place Their Bets

In other SolarEdge Technologies news, Director More Avery bought 7,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was purchased 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 of the company’s stock, valued at $5,246,966.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

Large investors have recently modified their holdings of the company. Altshuler Shaham Ltd boosted its position in shares of SolarEdge Technologies by 143.8% in the third quarter. Altshuler Shaham Ltd now owns 20,856 shares of the semiconductor company’s stock valued at $2,701,000 after acquiring an additional 12,302 shares during the period. International Assets Investment Management LLC boosted its position in shares of SolarEdge Technologies by 20,293.3% in the fourth quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock valued at $9,716,000 after acquiring an additional 103,293 shares during the period. Royal London Asset Management Ltd. boosted its position in shares of SolarEdge Technologies by 5.4% in the third quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company’s stock valued at $2,782,000 after acquiring an additional 1,101 shares during the period. Meitav Investment House Ltd. raised its stake in SolarEdge Technologies by 27.2% in the third quarter. Meitav Investment House Ltd. now owns 465,854 shares of the semiconductor company’s stock valued at $61,231,000 after purchasing an additional 99,681 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA raised its stake in SolarEdge Technologies by 250.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 500 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors.

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.