Susquehanna Has Lowered Expectations for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

Key Points

• Susquehanna cut SolarEdge Technologies’ price target from $38 to $32 while maintaining a neutral rating, implying approximately 1.6% downside from the prior close.
• Analyst sentiment remains weak: MarketBeat reports a consensus “Reduce” rating, with two Buy, eleven Hold, and five Sell recommendations and an average price target of $38.73.
• SolarEdge reported better-than-expected quarterly results, including $0.05 earnings per share and $346.2 million in revenue, but remains unprofitable with a negative 20.29% net margin; institutional investors own 95.1% of the stock.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its target price cut by analysts at Susquehanna from $38.00 to $32.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the semiconductor company's stock. Susquehanna's price objective would suggest a potential downside of 1.63% from the stock's previous close.

A number of other analysts also recently weighed in on SEDG. Morgan Stanley cut their price target on shares of SolarEdge Technologies from $35.00 to $33.00 and set an "equal weight" rating for the company in a report on Friday, September 11th. Barclays reduced their price target on shares of SolarEdge Technologies from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 7th. Wells Fargo & Company assumed coverage on shares of SolarEdge Technologies in a research note on Monday, June 29th. They issued an "equal weight" rating and a $36.00 price objective on the stock. Wall Street Zen upgraded shares of SolarEdge Technologies from a "sell" rating to a "hold" rating in a research report on Sunday. Finally, Royal Bank Of Canada upped their target price on SolarEdge Technologies from $24.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Friday, September 11th. Two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $38.73.

SolarEdge Technologies Stock Performance

SEDG opened at $32.53 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.38 and a current ratio of 2.03. SolarEdge Technologies has a 52-week low of $28.21 and a 52-week high of $81.25. The firm has a market cap of $2.00 billion, a P/E ratio of -7.23 and a beta of 1.44. The business's fifty day moving average is $33.04 and its 200-day moving average is $45.21.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.07. SolarEdge Technologies had a negative net margin of 20.29% and a negative return on equity of 29.17%. The business had revenue of $346.20 million during the quarter, compared to analysts' expectations of $341.15 million. During the same quarter in the prior year, the business posted ($0.81) earnings per share. SolarEdge Technologies's revenue was up 19.6% compared to the same quarter last year. Sell-side analysts expect that SolarEdge Technologies will post -1.20 EPS for the current fiscal year.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp increased its holdings in SolarEdge Technologies by 0.7% in the second quarter. State Street Corp now owns 1,761,901 shares of the semiconductor company's stock valued at $102,965,000 after purchasing an additional 12,188 shares during the period. Legal & General Group Plc acquired a new position in SolarEdge Technologies during the 2nd quarter worth about $76,095,000. Handelsbanken Fonder AB lifted its holdings in SolarEdge Technologies by 16.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 1,230,401 shares of the semiconductor company's stock worth $71,905,000 after buying an additional 175,281 shares during the period. Meitav Investment House Ltd. grew its position in shares of SolarEdge Technologies by 541.6% in the 1st quarter. Meitav Investment House Ltd. now owns 1,017,551 shares of the semiconductor company's stock valued at $51,946,000 after buying an additional 858,954 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of SolarEdge Technologies in the 2nd quarter valued at about $55,514,000. Institutional investors and hedge funds own 95.10% of the company's stock.

About SolarEdge Technologies

SolarEdge Technologies, Inc NASDAQ: SEDG develops technologies for generating, storing and managing solar energy. The company is best known for its power optimizer and inverter architecture, which is designed to improve energy harvesting from photovoltaic panels and provide monitoring and control at the module level.

Its product portfolio includes power optimizers, residential and commercial inverters, battery-storage systems, backup-power solutions, electric-vehicle charging equipment and energy-management software.

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