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

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

SEDG has been the subject of several other reports. Royal Bank of Canada decreased their price objective on shares of SolarEdge Technologies from $85.00 to $77.00 and set a sector perform rating for the company in a report on Wednesday, February 21st. Barclays upped their price objective on SolarEdge Technologies from $50.00 to $61.00 and gave the company an underweight rating in a research report on Tuesday, April 16th. Citigroup cut their price target on SolarEdge Technologies from $89.00 to $83.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. TD Cowen dropped their price objective on shares of SolarEdge Technologies from $120.00 to $100.00 and set an outperform rating on the stock in a report on Wednesday, February 21st. Finally, Wells Fargo & Company reduced their target price on shares of SolarEdge Technologies from $91.00 to $81.00 and set an equal weight rating for the company in a report on Thursday, February 22nd. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, SolarEdge Technologies currently has an average rating of Hold and a consensus price target of $98.38.

SolarEdge Technologies Price Performance

SEDG stock opened at $57.86 on Monday. The firm has a 50-day moving average of $68.43 and a 200 day moving average of $78.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. The company has a market cap of $3.31 billion, a P/E ratio of 128.58 and a beta of 1.51. SolarEdge Technologies has a 1 year low of $53.59 and a 1 year high of $317.93.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.01) by $0.60. The business had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. On average, sell-side analysts forecast that SolarEdge Technologies will post -4.14 EPS for the current year.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the acquisition, the director now owns 77,446 shares in the company, valued at $5,246,966.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

Several institutional investors have recently bought and sold shares of SEDG. CWM LLC increased its position in shares of SolarEdge Technologies by 94.0% during the third quarter. CWM LLC now owns 648 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 314 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in shares of SolarEdge Technologies in the third quarter valued at about $638,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of SolarEdge Technologies in the third quarter worth about $285,000. SG Americas Securities LLC boosted its position in SolarEdge Technologies by 40.2% during the third quarter. SG Americas Securities LLC now owns 14,446 shares of the semiconductor company’s stock worth $1,871,000 after acquiring an additional 4,143 shares during the last quarter. Finally, Everence Capital Management Inc. grew its stake in SolarEdge Technologies by 159.4% during the 3rd quarter. Everence Capital Management Inc. now owns 4,540 shares of the semiconductor company’s stock valued at $588,000 after acquiring an additional 2,790 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.