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

SolarEdge Technologies (NASDAQ:SEDG) had its price objective dropped by research analysts at Roth Mkm from $76.00 to $60.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Roth Mkm’s price objective suggests a potential downside of 0.12% from the company’s previous close.

A number of other equities analysts have also commented on SEDG. Royal Bank of Canada lowered 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 research report on Wednesday, February 21st. Truist Financial lowered their price objective on SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating on the stock in a research note on Thursday, February 22nd. B. Riley cut their target price on SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Piper Sandler cut their price objective on shares of SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Finally, Canaccord Genuity Group restated a “hold” rating and set a $75.00 price objective on shares of SolarEdge Technologies in a research report 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $97.62.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG remained flat at $60.07 during mid-day trading on Tuesday. 571,693 shares of the stock were exchanged, compared to its average volume of 2,315,996. SolarEdge Technologies has a one year low of $53.59 and a one year high of $315.34. The company has a market capitalization of $3.44 billion, a PE ratio of 131.40 and a beta of 1.53. The firm’s fifty day moving average is $64.97 and its 200-day moving average is $74.29. 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 announced its 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. 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 for the quarter, compared to analyst estimates of $319.97 million. As a group, equities research analysts expect that SolarEdge Technologies will post -4.68 EPS for the current year.

Insider Activity at SolarEdge Technologies

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Altshuler Shaham Ltd lifted its holdings in shares of SolarEdge Technologies by 143.8% in the 3rd quarter. Altshuler Shaham Ltd now owns 20,856 shares of the semiconductor company’s stock valued at $2,701,000 after buying an additional 12,302 shares during the period. International Assets Investment Management LLC boosted its position 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 purchasing an additional 103,293 shares during the period. Royal London Asset Management Ltd. increased its holdings in SolarEdge Technologies by 5.4% in the 3rd quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company’s stock valued at $2,782,000 after purchasing an additional 1,101 shares in the last quarter. Meitav Investment House Ltd. raised its position in SolarEdge Technologies by 27.2% in the third quarter. Meitav Investment House Ltd. now owns 465,854 shares of the semiconductor company’s stock valued at $61,231,000 after purchasing an additional 99,681 shares during the period. Finally, Compagnie Lombard Odier SCmA boosted its position in shares of SolarEdge Technologies by 250.0% in the fourth 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 period. 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.