SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $307.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price dropped by analysts at Morgan Stanley from $338.00 to $307.00 in a research report issued to clients and investors on Thursday, Price Targets.com reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective points to a potential upside of 20.95% from the stock’s previous close.

A number of other brokerages have also recently commented on SEDG. Susquehanna lifted their target price on SolarEdge Technologies from $350.00 to $400.00 and gave the stock a “positive” rating in a report on Wednesday, November 3rd. Piper Sandler dropped their target price on SolarEdge Technologies from $390.00 to $388.00 and set an “overweight” rating for the company in a report on Friday, January 7th. Wells Fargo & Company started coverage on SolarEdge Technologies in a report on Monday, November 22nd. They issued an “overweight” rating and a $441.00 target price for the company. Roth Capital raised their price target on SolarEdge Technologies from $310.00 to $395.00 and gave the stock a “buy” rating in a research note on Wednesday, November 3rd. Finally, The Goldman Sachs Group raised their price target on SolarEdge Technologies from $420.00 to $448.00 and gave the stock a “buy” rating in a research note on Monday, January 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, SolarEdge Technologies has a consensus rating of “Buy” and a consensus price target of $355.08.

NASDAQ SEDG opened at $253.83 on Thursday. The stock has a market capitalization of $13.33 billion, a PE ratio of 95.43, a P/E/G ratio of 2.49 and a beta of 1.02. The business has a 50 day simple moving average of $307.93 and a two-hundred day simple moving average of $291.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.83 and a quick ratio of 3.08. SolarEdge Technologies has a 1-year low of $199.33 and a 1-year high of $389.71.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Tuesday, November 2nd. The semiconductor company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). The firm had revenue of $526.40 million for the quarter, compared to analysts’ expectations of $529.73 million. SolarEdge Technologies had a net margin of 8.24% and a return on equity of 12.86%. During the same quarter in the prior year, the business earned $0.83 EPS. On average, analysts anticipate that SolarEdge Technologies will post 3.46 EPS for the current fiscal year.

In other SolarEdge Technologies news, VP Rachel Prishkolnik sold 3,744 shares of the firm’s stock in a transaction on Tuesday, November 30th. The stock was sold at an average price of $330.06, for a total value of $1,235,744.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Meir Adest sold 10,000 shares of the firm’s stock in a transaction on Monday, January 3rd. The shares were sold at an average price of $279.79, for a total value of $2,797,900.00. The disclosure for this sale can be found here. Insiders have sold 55,305 shares of company stock valued at $18,474,212 in the last three months. Insiders own 1.60% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sycomore Asset Management acquired a new stake in shares of SolarEdge Technologies during the 4th quarter valued at approximately $132,000. Exchange Traded Concepts LLC grew its stake in SolarEdge Technologies by 480.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,730 shares of the semiconductor company’s stock worth $485,000 after acquiring an additional 1,432 shares during the period. Stonnington Group LLC purchased a new stake in SolarEdge Technologies in the 4th quarter worth approximately $640,000. Green Alpha Advisors LLC grew its stake in SolarEdge Technologies by 1.1% in the 4th quarter. Green Alpha Advisors LLC now owns 6,456 shares of the semiconductor company’s stock worth $1,811,000 after acquiring an additional 71 shares during the period. Finally, Dixon Hubard Feinour & Brown Inc. VA purchased a new stake in shares of SolarEdge Technologies during the 4th quarter valued at $8,895,000. 73.41% of the stock is currently owned by institutional investors.

About SolarEdge Technologies

SolarEdge Technologies, Inc engages in the development of energy technology, which provides inverter solutions. The firm operates through the following segments: Solar and All Other. The Solar segment includes the design, development, manufacturing, and sales of an inverter solution designed to maximize power generation.

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Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

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