Analysts Set SolarEdge Technologies, Inc. (NASDAQ:SEDG) Price Target at $349.74

SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) has received an average rating of “Hold” from the thirty ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $349.74.

Several research analysts have recently commented on the stock. Canaccord Genuity Group lowered their price objective on shares of SolarEdge Technologies from $345.00 to $266.00 and set a “hold” rating for the company in a research note on Wednesday, February 16th. Northland Securities decreased their price target on shares of SolarEdge Technologies from $210.00 to $184.00 and set an “underperform” rating for the company in a research note on Tuesday, February 22nd. Stephens started coverage on shares of SolarEdge Technologies in a research note on Wednesday, April 13th. They issued an “overweight” rating and a $490.00 price target for the company. Piper Sandler decreased their price target on shares of SolarEdge Technologies from $400.00 to $385.00 in a research note on Thursday, April 21st. Finally, B. Riley raised their price objective on shares of SolarEdge Technologies from $297.00 to $359.00 and gave the stock a “buy” rating in a report on Wednesday, March 30th.

SolarEdge Technologies stock traded up $20.33 during trading on Monday, reaching $232.25. 1,145,131 shares of the company were exchanged, compared to its average volume of 945,543. SolarEdge Technologies has a 52-week low of $200.86 and a 52-week high of $389.71. The company has a market capitalization of $12.86 billion, a P/E ratio of 74.44, a PEG ratio of 1.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.33 and a quick ratio of 3.57. The stock’s 50 day simple moving average is $292.61 and its two-hundred day simple moving average is $291.58.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last announced its quarterly earnings data on Tuesday, February 15th. The semiconductor company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.28). The company had revenue of $551.92 million for the quarter, compared to analysts’ expectations of $548.66 million. SolarEdge Technologies had a return on equity of 11.59% and a net margin of 7.78%. During the same quarter in the previous year, the business posted $0.33 EPS. As a group, equities analysts forecast that SolarEdge Technologies will post 4.52 earnings per share for the current year.

In related news, VP Rachel Prishkolnik sold 6,815 shares of SolarEdge Technologies stock in a transaction on Monday, February 28th. The shares were sold at an average price of $308.84, for a total transaction of $2,104,744.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Meir Adest sold 10,000 shares of SolarEdge Technologies stock in a transaction on Monday, April 18th. The stock was sold at an average price of $301.59, for a total transaction of $3,015,900.00. Following the sale, the vice president now directly owns 199,867 shares in the company, valued at approximately $60,277,888.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,214 shares of company stock worth $14,649,566. 1.60% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP lifted its position in shares of SolarEdge Technologies by 2.3% during the first quarter. First Trust Advisors LP now owns 70,405 shares of the semiconductor company’s stock worth $2,653,000 after purchasing an additional 1,581 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in SolarEdge Technologies by 7.3% during the 3rd quarter. Advisor Group Holdings Inc. now owns 27,357 shares of the semiconductor company’s stock worth $7,259,000 after buying an additional 1,865 shares during the last quarter. Truist Financial Corp lifted its holdings in SolarEdge Technologies by 4.2% during the 3rd quarter. Truist Financial Corp now owns 3,882 shares of the semiconductor company’s stock worth $1,029,000 after buying an additional 158 shares during the last quarter. Keybank National Association OH lifted its holdings in SolarEdge Technologies by 98.8% during the 3rd quarter. Keybank National Association OH now owns 2,890 shares of the semiconductor company’s stock worth $766,000 after buying an additional 1,436 shares during the last quarter. Finally, Ieq Capital LLC bought a new stake in shares of SolarEdge Technologies in the 3rd quarter worth approximately $217,000. 75.73% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Company Profile (Get Rating)

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.

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Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

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