SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $61.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price hoisted by Barclays from $50.00 to $61.00 in a research report report published on Tuesday, Benzinga reports. Barclays currently has an underweight rating on the semiconductor company’s stock.

SEDG has been the subject of a number of other reports. BMO Capital Markets cut their target price on shares of SolarEdge Technologies from $85.00 to $80.00 and set a market perform rating for the company in a report on Wednesday, February 21st. Citigroup dropped their price objective on shares of SolarEdge Technologies from $89.00 to $83.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. Canaccord Genuity Group started coverage on shares of SolarEdge Technologies in a research note on Tuesday, January 16th. They set a hold rating and a $80.00 price objective for the company. B. Riley dropped their price objective on shares of SolarEdge Technologies from $166.00 to $133.00 and set a buy rating for the company in a research note on Monday, February 5th. Finally, Mizuho dropped their price objective on shares of SolarEdge Technologies from $119.00 to $106.00 and set a buy rating for the company in a research note 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $98.73.

SolarEdge Technologies Trading Down 2.8 %

SEDG stock opened at $55.80 on Tuesday. The firm has a fifty day moving average price of $69.40 and a 200 day moving average price of $79.81. SolarEdge Technologies has a fifty-two week low of $55.37 and a fifty-two week high of $321.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. The firm has a market cap of $3.19 billion, a PE ratio of 124.00 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, beating 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 analyst estimates of $319.97 million. Sell-side analysts anticipate that SolarEdge Technologies will post -4.04 earnings per share for the current fiscal year.

Insider Activity at SolarEdge Technologies

In other news, Director More Avery acquired 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the acquisition, the director now directly owns 77,446 shares of the company’s stock, valued at approximately $5,246,966.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.17% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. purchased a new position in SolarEdge Technologies in the third quarter valued at about $25,000. Quarry LP purchased a new position in SolarEdge Technologies in the first quarter valued at about $27,000. Manchester Capital Management LLC grew its stake in SolarEdge Technologies by 1,345.0% in the fourth quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 269 shares during the last quarter. Harbour Investments Inc. grew its stake in SolarEdge Technologies by 102.0% in the fourth quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 50 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new position in SolarEdge Technologies in the first quarter valued at about $29,000. Hedge funds and other 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.