SolarEdge Technologies (NASDAQ:SEDG) had its price target decreased by Truist Securities from $435.00 to $325.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. Truist Securities' price objective suggests a potential upside of 47.94% from the company's previous close.
SEDG has been the topic of a number of other research reports. Susquehanna Bancshares raised shares of SolarEdge Technologies from a "neutral" rating to a "positive" rating and set a $345.00 price target on the stock in a research report on Friday, March 19th. B. Riley cut their price target on shares of SolarEdge Technologies from $371.00 to $368.00 and set a "buy" rating on the stock in a research report on Tuesday. Canaccord Genuity dropped their price objective on shares of SolarEdge Technologies from $350.00 to $260.00 and set a "hold" rating on the stock in a report on Tuesday. Susquehanna upgraded shares of SolarEdge Technologies from a "neutral" rating to a "positive" rating in a report on Thursday, March 25th. Finally, TheStreet lowered shares of SolarEdge Technologies from a "b" rating to a "c+" rating in a report on Friday, February 19th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. SolarEdge Technologies currently has an average rating of "Hold" and a consensus price target of $300.40.
Shares of SolarEdge Technologies stock traded up $1.11 during trading on Wednesday, hitting $219.68. The company's stock had a trading volume of 44,191 shares, compared to its average volume of 1,121,557. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.56 and a quick ratio of 3.79. SolarEdge Technologies has a 52 week low of $105.00 and a 52 week high of $377.00. The stock has a market cap of $11.42 billion, a price-to-earnings ratio of 64.66, a price-to-earnings-growth ratio of 3.40 and a beta of 0.98. The stock has a 50-day moving average price of $272.14 and a two-hundred day moving average price of $286.67.
SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Monday, May 3rd. The semiconductor company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.31. SolarEdge Technologies had a net margin of 11.55% and a return on equity of 19.31%. The company had revenue of $405.50 million for the quarter, compared to analysts' expectations of $395.73 million. During the same quarter in the previous year, the firm posted $0.95 earnings per share. SolarEdge Technologies's revenue for the quarter was down 6.0% on a year-over-year basis. On average, equities analysts predict that SolarEdge Technologies will post 2.86 EPS for the current fiscal year.
In other SolarEdge Technologies news, VP Rachel Prishkolnik sold 3,742 shares of the company's stock in a transaction dated Wednesday, March 24th. The stock was sold at an average price of $275.08, for a total value of $1,029,349.36. Following the transaction, the vice president now directly owns 28,477 shares in the company, valued at approximately $7,833,453.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Meir Adest sold 10,000 shares of the company's stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $304.12, for a total value of $3,041,200.00. Following the completion of the transaction, the vice president now owns 307,336 shares in the company, valued at $93,467,024.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,222 shares of company stock worth $9,185,473. 2.90% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of SolarEdge Technologies by 11.7% during the 4th quarter. BlackRock Inc. now owns 5,998,029 shares of the semiconductor company's stock valued at $1,914,091,000 after purchasing an additional 628,326 shares during the last quarter. FMR LLC increased its position in shares of SolarEdge Technologies by 6.1% during the 4th quarter. FMR LLC now owns 2,974,417 shares of the semiconductor company's stock valued at $949,196,000 after purchasing an additional 170,784 shares during the last quarter. NN Investment Partners Holdings N.V. increased its position in shares of SolarEdge Technologies by 0.4% during the 1st quarter. NN Investment Partners Holdings N.V. now owns 569,194 shares of the semiconductor company's stock valued at $163,609,000 after purchasing an additional 2,274 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in SolarEdge Technologies by 143.3% during the 4th quarter. UBS Asset Management Americas Inc. now owns 508,076 shares of the semiconductor company's stock valued at $162,137,000 after acquiring an additional 299,217 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in SolarEdge Technologies by 3.1% during the 4th quarter. Bank of New York Mellon Corp now owns 483,832 shares of the semiconductor company's stock valued at $154,401,000 after acquiring an additional 14,455 shares during the period. Hedge funds and other institutional investors own 77.52% of the company's stock.
SolarEdge Technologies Company Profile
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.
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