SolarEdge Technologies (NASDAQ:SEDG) PT Raised to $300.00 at Citigroup

SolarEdge Technologies (NASDAQ:SEDGGet Rating) had its target price upped by analysts at Citigroup from $255.00 to $300.00 in a research report issued on Tuesday, The Fly reports. The brokerage presently has a “hold” rating on the semiconductor company’s stock. Citigroup’s price target would suggest a potential upside of 5.41% from the stock’s previous close.

SEDG has been the subject of several other research reports. Bank of America increased their target price on SolarEdge Technologies from $305.00 to $411.00 and gave the stock a “buy” rating in a research report on Friday, March 11th. Truist Financial assumed coverage on SolarEdge Technologies in a research report on Monday. They set a “buy” rating and a $340.00 target price for the company. Needham & Company LLC increased their target price on SolarEdge Technologies from $347.00 to $390.00 in a research report on Tuesday. Susquehanna increased their price target on SolarEdge Technologies from $365.00 to $370.00 and gave the company a “positive” rating in a research note on Wednesday, February 16th. Finally, Piper Sandler dropped their price target on SolarEdge Technologies from $400.00 to $385.00 in a research note on Thursday, April 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $349.74.

SEDG stock traded up $29.29 during trading on Tuesday, reaching $284.60. The stock had a trading volume of 1,027,297 shares, compared to its average volume of 1,059,808. SolarEdge Technologies has a 52 week low of $199.33 and a 52 week high of $389.71. The stock’s 50 day moving average is $302.17 and its two-hundred day moving average is $295.35. The company has a current ratio of 3.26, a quick ratio of 2.53 and a debt-to-equity ratio of 0.51. The firm has a market cap of $15.03 billion, a PE ratio of 84.19, a PEG ratio of 2.14 and a beta of 1.10.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last posted its earnings results on Tuesday, February 15th. The semiconductor company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.28). SolarEdge Technologies had a net margin of 8.61% and a return on equity of 13.59%. The firm had revenue of $551.92 million during the quarter, compared to the consensus estimate of $548.66 million. During the same period in the prior year, the company posted $0.33 EPS. On average, research analysts anticipate that SolarEdge Technologies will post 4.59 EPS for the current year.

In other news, CEO Zvi Lando sold 19,399 shares of the business’s stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $331.08, for a total value of $6,422,620.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Meir Adest sold 10,000 shares of SolarEdge Technologies stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $310.63, for a total value of $3,106,300.00. The disclosure for this sale can be found here. In the last three months, insiders sold 46,214 shares of company stock valued at $14,649,566. Insiders own 1.60% of the company’s stock.

A number of large investors have recently bought and sold shares of SEDG. Chilton Capital Management LLC purchased a new stake in SolarEdge Technologies during the 4th quarter worth approximately $28,000. Sageworth Trust Co of South Dakota purchased a new stake in shares of SolarEdge Technologies in the fourth quarter valued at approximately $33,000. Confluence Wealth Services Inc. purchased a new stake in shares of SolarEdge Technologies in the fourth quarter valued at approximately $33,000. Horan Securities Inc. purchased a new stake in shares of SolarEdge Technologies in the fourth quarter valued at approximately $34,000. Finally, First Horizon Advisors Inc. grew its position in shares of SolarEdge Technologies by 3,047.6% in the third quarter. First Horizon Advisors Inc. now owns 661 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 640 shares in the last quarter. Institutional investors own 75.73% of the company’s stock.

About SolarEdge Technologies (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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