Mizuho Trims SolarEdge Technologies (NASDAQ:SEDG) Target Price to $104.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective decreased by Mizuho from $106.00 to $104.00 in a research report sent to investors on Friday morning, Benzinga reports. Mizuho currently has a buy rating on the semiconductor company’s stock.

SEDG has been the topic of several other reports. Piper Sandler dropped their target price on SolarEdge Technologies from $105.00 to $77.00 and set a neutral rating on the stock in a research report on Wednesday, February 21st. BMO Capital Markets decreased their price objective on SolarEdge Technologies from $85.00 to $80.00 and set a market perform rating on the stock in a research note on Wednesday, February 21st. Citigroup decreased their price objective on SolarEdge Technologies from $89.00 to $83.00 and set a neutral rating on the stock in a research note on Wednesday, February 21st. Wells Fargo & Company decreased their price objective on SolarEdge Technologies from $91.00 to $81.00 and set an equal weight rating on the stock in a research note on Thursday, February 22nd. Finally, TD Cowen decreased their price objective on SolarEdge Technologies from $120.00 to $100.00 and set an outperform rating on the stock in a research note on Wednesday, February 21st. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $98.73.

SolarEdge Technologies Trading Down 2.8 %

Shares of NASDAQ:SEDG opened at $55.80 on Friday. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 124.00 and a beta of 1.51. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. The stock’s 50-day simple moving average is $69.40 and its two-hundred day simple moving average is $79.21. SolarEdge Technologies has a 52-week low of $55.37 and a 52-week high of $321.61.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.01) by $0.60. The business had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. Analysts expect that SolarEdge Technologies will post -4.11 EPS for the current year.

Insiders Place Their Bets

In other news, Director More Avery acquired 7,000 shares of SolarEdge Technologies stock in a transaction on Thursday, February 29th. The shares were acquired at an average price of $67.75 per share, with a total value of $474,250.00. Following the purchase, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.17% of the company’s stock.

Institutional Trading of SolarEdge Technologies

A number of large investors have recently added to or reduced their stakes in SEDG. Baillie Gifford & Co. boosted its holdings in shares of SolarEdge Technologies by 89.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock worth $229,298,000 after purchasing an additional 835,290 shares during the period. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of SolarEdge Technologies by 108.5% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock worth $193,626,000 after purchasing an additional 778,034 shares during the period. Voloridge Investment Management LLC boosted its holdings in shares of SolarEdge Technologies by 371.8% in the 4th quarter. Voloridge Investment Management LLC now owns 665,524 shares of the semiconductor company’s stock worth $62,293,000 after purchasing an additional 524,476 shares during the period. Invenomic Capital Management LP purchased a new position in shares of SolarEdge Technologies in the 4th quarter worth approximately $42,644,000. Finally, Norges Bank purchased a new position in shares of SolarEdge Technologies in the 4th quarter worth approximately $39,547,000. 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.