SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $60.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective reduced by Roth Mkm from $76.00 to $60.00 in a research report report published on Tuesday, Benzinga reports. Roth Mkm currently has a neutral rating on the semiconductor company’s stock.

Several other research analysts have also recently weighed in on SEDG. B. Riley dropped their price objective on shares of SolarEdge Technologies from $133.00 to $124.00 and set a buy rating for the company in a research report on Monday, April 22nd. Canaccord Genuity Group reiterated a hold rating and issued a $75.00 price objective on shares of SolarEdge Technologies in a report on Wednesday, February 21st. Scotiabank decreased their price objective on shares of SolarEdge Technologies from $93.00 to $90.00 and set a sector perform rating for the company in a report on Wednesday, February 21st. Canaccord Genuity Group initiated coverage on shares of SolarEdge Technologies in a research report on Tuesday, January 16th. They set a hold rating and a $80.00 price target on the stock. Finally, TD Cowen lowered their price objective on shares of SolarEdge Technologies from $120.00 to $100.00 and set an outperform rating for the company in a research report on Wednesday, February 21st. Four investment 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 company’s stock. According to MarketBeat, SolarEdge Technologies currently has a consensus rating of Hold and an average target price of $97.62.

SolarEdge Technologies Price Performance

Shares of SEDG stock opened at $58.71 on Tuesday. SolarEdge Technologies has a 12 month low of $53.59 and a 12 month high of $315.34. The company has a market capitalization of $3.36 billion, a P/E ratio of 130.47 and a beta of 1.53. The stock has a 50 day moving average of $64.75 and a two-hundred day moving average of $74.12. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, topping analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The firm had revenue of $316.04 million during the quarter, compared to analysts’ expectations of $319.97 million. As a group, equities analysts expect that SolarEdge Technologies will post -4.68 EPS for the current year.

Insiders Place Their Bets

In other news, Director More Avery bought 7,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were bought at an average cost of $67.75 per share, with a total value of $474,250.00. Following the acquisition, the director now owns 77,446 shares in the company, valued at $5,246,966.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

A number of large investors have recently added to or reduced their stakes in SEDG. Yelin Lapidot Holdings Management Ltd. lifted its position in SolarEdge Technologies by 0.6% during the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 21,513 shares of the semiconductor company’s stock worth $2,014,000 after acquiring an additional 130 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its stake in SolarEdge Technologies by 9.4% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,684 shares of the semiconductor company’s stock valued at $218,000 after purchasing an additional 145 shares during the period. Liberty One Investment Management LLC grew its holdings in SolarEdge Technologies by 4.2% in the 4th quarter. Liberty One Investment Management LLC now owns 3,683 shares of the semiconductor company’s stock valued at $345,000 after buying an additional 148 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of SolarEdge Technologies by 194.7% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock worth $36,000 after buying an additional 183 shares in the last quarter. Finally, South Street Advisors LLC boosted its position in shares of SolarEdge Technologies by 2.9% in the third quarter. South Street Advisors LLC now owns 6,512 shares of the semiconductor company’s stock valued at $843,000 after acquiring an additional 185 shares during the period. 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.