SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $240.00 by Analysts at Morgan Stanley

SolarEdge Technologies (NASDAQ:SEDG) had its price objective decreased by Morgan Stanley from $334.00 to $240.00 in a research note published on Wednesday morning, MarketBeat Ratings reports. Morgan Stanley currently has an equal weight rating on the semiconductor company’s stock.

Several other analysts have also recently commented on SEDG. Piper Sandler lowered their target price on shares of SolarEdge Technologies from $395.00 to $370.00 in a research note on Tuesday, July 18th. Bank of America cut shares of SolarEdge Technologies from a buy rating to a neutral rating and lowered their target price for the stock from $320.00 to $181.00 in a research note on Wednesday, August 16th. Truist Financial lowered their target price on shares of SolarEdge Technologies from $400.00 to $340.00 and set a buy rating for the company in a research note on Thursday, August 3rd. TheStreet lowered shares of SolarEdge Technologies from a b- rating to a c rating in a report on Tuesday, August 1st. Finally, B. Riley decreased their price target on shares of SolarEdge Technologies from $368.00 to $356.00 and set a buy rating on the stock in a report on Friday, June 30th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies presently has a consensus rating of Moderate Buy and a consensus price target of $330.19.

SolarEdge Technologies Trading Down 3.6 %

Shares of SEDG opened at $155.90 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.84 and a quick ratio of 2.75. The firm has a 50 day simple moving average of $213.59 and a 200-day simple moving average of $264.83. SolarEdge Technologies has a 1-year low of $154.42 and a 1-year high of $345.80. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 0.90 and a beta of 1.41.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.01. The business had revenue of $991.29 million during the quarter, compared to analysts’ expectations of $989.17 million. SolarEdge Technologies had a net margin of 8.29% and a return on equity of 18.19%. Equities analysts forecast that SolarEdge Technologies will post 7.36 EPS for the current fiscal year.

Insider Buying and Selling at SolarEdge Technologies

In related news, CFO Ronen Faier bought 875 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average price of $180.10 per share, for a total transaction of $157,587.50. Following the purchase, the chief financial officer now owns 73,414 shares in the company, valued at approximately $13,221,861.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Alta Advisers Ltd acquired a new stake in shares of SolarEdge Technologies in the second quarter valued at approximately $27,000. V Square Quantitative Management LLC bought a new position in shares of SolarEdge Technologies in the second quarter valued at approximately $27,000. Quarry LP bought a new position in shares of SolarEdge Technologies in the first quarter valued at approximately $27,000. Harbour Investments Inc. boosted its holdings in shares of 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 acquiring an additional 50 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of SolarEdge Technologies in the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 86.11% of the company’s stock.

SolarEdge Technologies Company Profile

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 in Solar and All Other segments. 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.