SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $38.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target decreased by Canaccord Genuity Group from $58.00 to $38.00 in a research report report published on Tuesday morning, MarketBeat.com reports. Canaccord Genuity Group currently has a hold rating on the semiconductor company’s stock.

Several other brokerages also recently weighed in on SEDG. Scotiabank lowered their target price on SolarEdge Technologies from $72.00 to $46.00 and set a sector perform rating for the company in a research note on Tuesday. DZ Bank assumed coverage on shares of SolarEdge Technologies in a research report on Wednesday, April 17th. They set a hold rating and a $62.00 price target on the stock. Mizuho reduced their price target on shares of SolarEdge Technologies from $104.00 to $84.00 and set a buy rating on the stock in a research report on Friday, May 10th. Canaccord Genuity Group reduced their price target on shares of SolarEdge Technologies from $58.00 to $38.00 and set a hold rating on the stock in a research report on Tuesday. Finally, Royal Bank of Canada reaffirmed a sector perform rating and set a $71.00 price target on shares of SolarEdge Technologies in a research report on Friday, June 7th. Four analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, SolarEdge Technologies has an average rating of Hold and a consensus target price of $76.35.

SolarEdge Technologies Stock Down 0.0 %

Shares of SolarEdge Technologies stock opened at $25.26 on Tuesday. The business has a 50-day moving average of $47.60 and a 200-day moving average of $65.29. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.54 and a quick ratio of 2.19. The company has a market capitalization of $1.45 billion, a PE ratio of -5.43 and a beta of 1.62. SolarEdge Technologies has a 1-year low of $24.44 and a 1-year high of $288.87.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share for the quarter, missing the consensus estimate of ($2.07) by ($0.35). The business had revenue of $204.40 million for the quarter, compared to analyst estimates of $194.82 million. SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. As a group, equities analysts forecast that SolarEdge Technologies will post -6.3 EPS for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brevan Howard Capital Management LP raised its stake in shares of SolarEdge Technologies by 110.3% during the fourth quarter. Brevan Howard Capital Management LP now owns 39,374 shares of the semiconductor company’s stock valued at $3,685,000 after purchasing an additional 20,654 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of SolarEdge Technologies by 20,293.3% during 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 purchasing an additional 103,293 shares in the last quarter. Royal London Asset Management Ltd. raised its stake in shares of SolarEdge Technologies by 5.4% during 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 purchasing an additional 1,101 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of SolarEdge Technologies by 371.3% during the fourth quarter. Principal Financial Group Inc. now owns 288,935 shares of the semiconductor company’s stock valued at $27,044,000 after purchasing an additional 227,634 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of SolarEdge Technologies by 129.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 205,814 shares of the semiconductor company’s stock valued at $19,264,000 after purchasing an additional 116,176 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors.

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.