SolarEdge Technologies (NASDAQ:SEDG) PT Raised to $61.00

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

A number of other research analysts have also recently issued reports on SEDG. StockNews.com raised shares of SolarEdge Technologies to a sell rating in a report on Thursday, December 28th. Wells Fargo & Company dropped their target price on shares of SolarEdge Technologies from $91.00 to $81.00 and set an equal weight rating for the company in a report on Thursday, February 22nd. BMO Capital Markets dropped 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. The Goldman Sachs Group lowered their price target on shares of SolarEdge Technologies from $83.00 to $71.00 and set a sell rating on the stock in a research report on Wednesday, January 24th. Finally, Truist Financial lowered their price target on shares of SolarEdge Technologies from $80.00 to $75.00 and set a hold rating on the stock in a research report on Thursday, February 22nd. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $100.28.

SolarEdge Technologies Trading Down 1.5 %

NASDAQ SEDG opened at $59.52 on Tuesday. The stock has a market capitalization of $3.40 billion, a P/E ratio of 132.27 and a beta of 1.51. SolarEdge Technologies has a 52-week low of $57.72 and a 52-week high of $322.19. The firm has a 50-day moving average price of $70.53 and a 200 day moving average price of $80.58. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) 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 company had revenue of $316.04 million during the quarter, compared to analysts’ expectations of $319.97 million. Equities research analysts expect that SolarEdge Technologies will post -4.04 EPS for the current year.

Insider Buying and Selling at SolarEdge Technologies

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

Hedge Funds Weigh In On SolarEdge Technologies

A number of hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors raised its stake in shares of SolarEdge Technologies by 3.5% in the 4th quarter. Captrust Financial Advisors now owns 1,162 shares of the semiconductor company’s stock valued at $329,000 after acquiring an additional 39 shares during the period. United Capital Financial Advisers LLC raised its stake in shares of SolarEdge Technologies by 2.0% in the 1st quarter. United Capital Financial Advisers LLC now owns 2,394 shares of the semiconductor company’s stock valued at $772,000 after acquiring an additional 46 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of SolarEdge Technologies by 49.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 145 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 48 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in shares of SolarEdge Technologies by 5.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 1,011 shares of the semiconductor company’s stock valued at $286,000 after acquiring an additional 49 shares during the period. Finally, Harbour Investments Inc. raised its stake in shares of SolarEdge Technologies by 102.0% in the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 50 shares during the period. 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.