SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $49.00 at The Goldman Sachs Group

SolarEdge Technologies (NASDAQ:SEDG) had its price target decreased by research analysts at The Goldman Sachs Group from $64.00 to $49.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “sell” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price objective points to a potential downside of 14.86% from the company’s previous close.

Other analysts also recently issued reports about the company. Canaccord Genuity Group started coverage on SolarEdge Technologies in a research report on Tuesday, January 16th. They set a “hold” rating and a $80.00 target price for the company. TD Cowen decreased their target price on SolarEdge Technologies from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday. Truist Financial decreased their target price on SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Thursday, February 22nd. Janney Montgomery Scott downgraded SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, March 22nd. Finally, B. Riley decreased 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. Four equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $96.00.

SolarEdge Technologies Stock Down 2.0 %

NASDAQ SEDG opened at $57.55 on Thursday. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average of $64.59 and a two-hundred day moving average of $74.00. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 127.89 and a beta of 1.53. SolarEdge Technologies has a 52 week low of $53.59 and a 52 week high of $315.34.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, topping the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The company had revenue of $316.04 million during the quarter, compared to analyst estimates of $319.97 million. On average, analysts predict that SolarEdge Technologies will post -4.68 earnings per share for the current year.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the acquisition, the director now owns 77,446 shares in the company, valued at $5,246,966.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

Several institutional investors and hedge funds have recently modified their holdings of SEDG. Commonwealth Equity Services LLC increased its position in shares of SolarEdge Technologies by 15.5% in the third quarter. Commonwealth Equity Services LLC now owns 5,884 shares of the semiconductor company’s stock valued at $762,000 after buying an additional 791 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in SolarEdge Technologies by 53.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 2,142 shares of the semiconductor company’s stock worth $277,000 after acquiring an additional 747 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in SolarEdge Technologies by 23.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,639 shares of the semiconductor company’s stock valued at $1,119,000 after acquiring an additional 1,663 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in SolarEdge Technologies by 3.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 402,541 shares of the semiconductor company’s stock valued at $52,133,000 after acquiring an additional 12,649 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its stake in SolarEdge Technologies by 30.0% in the 3rd quarter. IFM Investors Pty Ltd now owns 14,936 shares of the semiconductor company’s stock worth $1,934,000 after purchasing an additional 3,444 shares in the last quarter. Institutional investors and hedge funds 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.