SolarEdge Technologies (NASDAQ:SEDG) PT Raised to $390.00

SolarEdge Technologies (NASDAQ:SEDGGet Rating) had its price objective raised by stock analysts at Needham & Company LLC from $347.00 to $390.00 in a research report issued to clients and investors on Tuesday, The Fly reports. Needham & Company LLC’s price target indicates a potential upside of 52.76% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Piper Sandler cut their price target on shares of SolarEdge Technologies from $400.00 to $385.00 in a research report on Thursday, April 21st. The Goldman Sachs Group raised their target price on shares of SolarEdge Technologies from $420.00 to $448.00 and gave the stock a “buy” rating in a report on Monday, January 10th. B. Riley raised their target price 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. Morgan Stanley raised their target price on shares of SolarEdge Technologies from $307.00 to $333.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 22nd. Finally, Truist Financial assumed coverage on shares of SolarEdge Technologies in a report on Monday. They set a “buy” rating and a $340.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, SolarEdge Technologies presently has an average rating of “Buy” and an average price target of $350.96.

Shares of NASDAQ:SEDG opened at $255.31 on Tuesday. The company has a market capitalization of $13.49 billion, a price-to-earnings ratio of 83.16, a P/E/G ratio of 2.14 and a beta of 1.10. The firm’s 50 day simple moving average is $301.64 and its 200 day simple moving average is $295.58. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.26 and a quick ratio of 2.53. SolarEdge Technologies has a fifty-two week low of $199.33 and a fifty-two week high of $389.71.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last announced its quarterly 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). The firm had revenue of $551.92 million during the quarter, compared to analyst estimates of $548.66 million. SolarEdge Technologies had a net margin of 8.61% and a return on equity of 13.59%. During the same quarter in the prior year, the business earned $0.33 earnings per share. Equities research analysts expect that SolarEdge Technologies will post 4.75 earnings per share for the current year.

In related 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Meir Adest sold 10,000 shares of the business’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $301.59, for a total value of $3,015,900.00. Following the completion of the transaction, the vice president now directly owns 199,867 shares of the company’s stock, valued at approximately $60,277,888.53. The disclosure for this sale can be found here. Insiders have sold 46,214 shares of company stock valued at $14,649,566 in the last three months. Insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SEDG. William Blair Investment Management LLC acquired a new position in SolarEdge Technologies during the third quarter worth about $177,212,000. Norges Bank acquired a new position in SolarEdge Technologies during the fourth quarter worth about $112,243,000. Clal Insurance Enterprises Holdings Ltd raised its stake in SolarEdge Technologies by 116.1% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 632,223 shares of the semiconductor company’s stock worth $167,678,000 after acquiring an additional 339,650 shares in the last quarter. Geode Capital Management LLC raised its stake in SolarEdge Technologies by 63.8% during the fourth quarter. Geode Capital Management LLC now owns 811,454 shares of the semiconductor company’s stock worth $226,980,000 after acquiring an additional 316,001 shares in the last quarter. Finally, Pictet Asset Management SA raised its stake in SolarEdge Technologies by 30.1% during the fourth quarter. Pictet Asset Management SA now owns 1,284,822 shares of the semiconductor company’s stock worth $360,483,000 after acquiring an additional 297,272 shares in the last quarter. 75.73% of the stock is 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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