Roth Mkm Lowers SolarEdge Technologies (NASDAQ:SEDG) Price Target to $60.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target cut by Roth Mkm from $76.00 to $60.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Roth Mkm’s target price suggests a potential upside of 4.26% from the stock’s current price.

Other research analysts have also issued reports about the company. Citigroup reduced their price target on SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Truist Financial decreased their price target on shares of SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Thursday, February 22nd. Susquehanna cut their price objective on shares of SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating on the stock in a research report on Friday, April 5th. Barclays increased their target price on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada cut their price target on shares of SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, SolarEdge Technologies has an average rating of “Hold” and a consensus price target of $97.62.

SolarEdge Technologies Stock Performance

SEDG stock opened at $57.55 on Tuesday. SolarEdge Technologies has a 1-year low of $53.59 and a 1-year high of $315.34. The business has a 50-day moving average price of $64.59 and a 200 day moving average price of $74.00. The company has a market capitalization of $3.30 billion, a P/E ratio of 127.89 and a beta of 1.53. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The business had revenue of $316.04 million during the quarter, compared to analyst estimates of $319.97 million. As a group, equities research analysts forecast that SolarEdge Technologies will post -4.68 EPS for the current fiscal year.

Insider Buying and Selling at SolarEdge Technologies

In related news, Director More Avery purchased 7,000 shares of SolarEdge Technologies stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the transaction, 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 SEC, which is available at this link. Insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SEDG. ProShare Advisors LLC boosted its stake in SolarEdge Technologies by 24.9% during the 1st quarter. ProShare Advisors LLC now owns 10,030 shares of the semiconductor company’s stock worth $712,000 after purchasing an additional 1,997 shares during the last quarter. Swiss National Bank boosted its position in SolarEdge Technologies by 0.5% during the first quarter. Swiss National Bank now owns 112,100 shares of the semiconductor company’s stock worth $7,957,000 after acquiring an additional 600 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in SolarEdge Technologies by 1.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 49,655 shares of the semiconductor company’s stock valued at $3,525,000 after acquiring an additional 585 shares in the last quarter. GSA Capital Partners LLP raised its holdings in SolarEdge Technologies by 113.3% in the 1st quarter. GSA Capital Partners LLP now owns 12,379 shares of the semiconductor company’s stock valued at $879,000 after acquiring an additional 6,576 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in SolarEdge Technologies by 2.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,007,934 shares of the semiconductor company’s stock worth $71,543,000 after purchasing an additional 23,033 shares in the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

About SolarEdge Technologies

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.