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

SolarEdge Technologies (NASDAQ:SEDG) had its price objective cut by Roth Mkm from $76.00 to $60.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

SEDG has been the topic of several other reports. Wells Fargo & Company lowered their price target on shares of SolarEdge Technologies from $91.00 to $81.00 and set an equal weight rating on the stock in a report on Thursday, February 22nd. Truist Financial decreased their target price on SolarEdge Technologies from $80.00 to $75.00 and set a hold rating on the stock in a research report on Thursday, February 22nd. Piper Sandler cut their price target on shares of SolarEdge Technologies from $105.00 to $77.00 and set a neutral rating for the company in a report on Wednesday, February 21st. The Goldman Sachs Group decreased their price objective on shares of SolarEdge Technologies from $83.00 to $71.00 and set a sell rating on the stock in a report on Wednesday, January 24th. Finally, Scotiabank reduced their price target on shares of SolarEdge Technologies from $93.00 to $90.00 and set a sector perform rating for the company in a research report on Wednesday, February 21st. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, SolarEdge Technologies presently has an average rating of Hold and a consensus price target of $97.62.

SolarEdge Technologies Stock Down 2.3 %

NASDAQ:SEDG opened at $58.71 on Tuesday. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. SolarEdge Technologies has a twelve month low of $53.59 and a twelve month high of $315.34. The company has a market cap of $3.36 billion, a PE ratio of 130.47 and a beta of 1.53. The company’s 50 day moving average is $64.75 and its two-hundred day moving average is $74.12.

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, topping analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The company had revenue of $316.04 million during the quarter, compared to analyst estimates of $319.97 million. Analysts anticipate that SolarEdge Technologies will post -4.68 EPS for the current year.

Insider Buying and Selling at SolarEdge Technologies

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank boosted its holdings in shares of SolarEdge Technologies by 0.5% in the 1st quarter. Swiss National Bank now owns 112,100 shares of the semiconductor company’s stock valued at $7,957,000 after buying an additional 600 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in SolarEdge Technologies by 1.2% in the first 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 grew its holdings in shares of SolarEdge Technologies by 113.3% during the first quarter. GSA Capital Partners LLP now owns 12,379 shares of the semiconductor company’s stock worth $879,000 after purchasing an additional 6,576 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of 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 valued at $71,543,000 after purchasing an additional 23,033 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its position in SolarEdge Technologies by 128.7% during the 1st quarter. Perigon Wealth Management LLC now owns 10,366 shares of the semiconductor company’s stock worth $736,000 after buying an additional 5,834 shares during the last quarter. 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.