SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $61.00

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

Other equities analysts have also issued research reports about the company. B. Riley decreased their target price on SolarEdge Technologies from $166.00 to $133.00 and set a buy rating on the stock in a research note on Monday, February 5th. Wells Fargo & Company decreased their target price 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. Citigroup decreased their target price 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. Canaccord Genuity Group reissued a hold rating and set a $75.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, February 21st. Finally, TD Cowen decreased their target price 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 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $98.73.

SolarEdge Technologies Stock Performance

NASDAQ SEDG opened at $55.80 on Tuesday. The stock has a market cap of $3.19 billion, a PE ratio of 124.00 and a beta of 1.51. 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 $55.37 and a twelve month high of $321.61. The stock has a fifty day simple moving average of $69.40 and a 200-day simple moving average of $79.81.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.01) by $0.60. The business had revenue of $316.04 million during 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%. Equities analysts anticipate that SolarEdge Technologies will post -4.04 earnings per share for the current year.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery bought 7,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Altshuler Shaham Ltd raised its position in shares of SolarEdge Technologies by 143.8% during the 3rd quarter. Altshuler Shaham Ltd now owns 20,856 shares of the semiconductor company’s stock worth $2,701,000 after acquiring an additional 12,302 shares in the last quarter. International Assets Investment Management LLC grew its stake in SolarEdge Technologies by 20,293.3% during the 4th quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock worth $9,716,000 after buying an additional 103,293 shares during the last quarter. Royal London Asset Management Ltd. grew its stake in SolarEdge Technologies by 5.4% during the 3rd quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company’s stock worth $2,782,000 after buying an additional 1,101 shares during the last quarter. Meitav Investment House Ltd. grew its stake in SolarEdge Technologies by 27.2% during the 3rd quarter. Meitav Investment House Ltd. now owns 465,854 shares of the semiconductor company’s stock worth $61,231,000 after buying an additional 99,681 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA grew its stake in SolarEdge Technologies by 250.0% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

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.