Morgan Stanley Trims SolarEdge Technologies (NASDAQ:SEDG) Target Price to $316.00

SolarEdge Technologies (NASDAQ:SEDGGet Rating) had its price objective reduced by equities research analysts at Morgan Stanley from $333.00 to $316.00 in a report issued on Monday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 18.95% from the company’s current price.

A number of other equities analysts also recently weighed in on SEDG. Canaccord Genuity Group dropped their target price on SolarEdge Technologies from $345.00 to $266.00 and set a “hold” rating on the stock in a report on Wednesday, February 16th. Citigroup upped their target price on SolarEdge Technologies from $255.00 to $300.00 and gave the company a “hold” rating in a report on Tuesday, May 3rd. Truist Financial initiated coverage on SolarEdge Technologies in a report on Monday, May 2nd. They issued a “buy” rating and a $340.00 target price on the stock. Canaccord Genuity Group dropped their target price on SolarEdge Technologies from $345.00 to $266.00 and set a “hold” rating on the stock in a report on Wednesday, February 16th. Finally, JPMorgan Chase & Co. boosted their price target on SolarEdge Technologies from $328.00 to $375.00 in a research note on Wednesday, March 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $348.93.

Shares of SEDG traded down $18.70 during trading hours on Monday, reaching $265.66. The company’s stock had a trading volume of 30,279 shares, compared to its average volume of 1,002,509. The firm has a market cap of $14.71 billion, a price-to-earnings ratio of 85.20, a P/E/G ratio of 2.10 and a beta of 1.10. SolarEdge Technologies has a 1-year low of $200.86 and a 1-year high of $389.71. The company has a quick ratio of 3.57, a current ratio of 4.33 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average of $272.50 and a two-hundred day moving average of $279.03.

In related news, VP Meir Adest sold 10,000 shares of the company’s stock in a transaction on Monday, April 18th. The stock was 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 in the company, valued at $60,277,888.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Zvi Lando sold 19,399 shares of the company’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $331.08, for a total value of $6,422,620.92. The disclosure for this sale can be found here. Insiders sold 39,460 shares of company stock valued at $12,561,511 over the last three months. 1.60% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Michigan Retirement System raised its stake in SolarEdge Technologies by 0.3% during the first quarter. State of Michigan Retirement System now owns 13,236 shares of the semiconductor company’s stock worth $4,267,000 after acquiring an additional 36 shares in the last quarter. Guinness Atkinson Asset Management Inc raised its stake in SolarEdge Technologies by 1.7% during the fourth quarter. Guinness Atkinson Asset Management Inc now owns 2,508 shares of the semiconductor company’s stock worth $704,000 after acquiring an additional 42 shares in the last quarter. United Capital Financial Advisers LLC raised its stake in SolarEdge Technologies by 2.0% during the first quarter. United Capital Financial Advisers LLC now owns 2,394 shares of the semiconductor company’s stock worth $772,000 after acquiring an additional 46 shares in the last quarter. CIBC Asset Management Inc raised its stake in SolarEdge Technologies by 1.8% during the first quarter. CIBC Asset Management Inc now owns 2,805 shares of the semiconductor company’s stock worth $904,000 after acquiring an additional 49 shares in the last quarter. Finally, Goodwin Daniel L raised its stake in SolarEdge Technologies by 2.2% during the fourth quarter. Goodwin Daniel L now owns 2,320 shares of the semiconductor company’s stock worth $651,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 75.73% of the company’s stock.

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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