SolarEdge Technologies (NASDAQ:SEDG) Research Coverage Started at DZ Bank

Investment analysts at DZ Bank began coverage on shares of SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage set a "hold" rating and a $62.00 price target on the semiconductor company's stock. DZ Bank's target price suggests a potential upside of 3.78% from the stock's current price.

SEDG has been the subject of a number of other reports. Barclays lifted their price target on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the stock an "underweight" rating in a research note on Tuesday. Royal Bank of Canada reduced their price target on SolarEdge Technologies from $85.00 to $77.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 21st. Mizuho decreased their price target on SolarEdge Technologies from $119.00 to $106.00 and set a "buy" rating for the company in a research note on Thursday, February 22nd. Truist Financial cut their price objective on SolarEdge Technologies from $80.00 to $75.00 and set a "hold" rating on the stock in a research report on Thursday, February 22nd. Finally, The Goldman Sachs Group reduced their target price on SolarEdge Technologies from $83.00 to $71.00 and set a "sell" rating on the stock in a research note on Wednesday, January 24th. Four 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $98.81.

SolarEdge Technologies Trading Up 0.4 %

NASDAQ SEDG traded up $0.22 during trading hours on Wednesday, hitting $59.74. 2,182,614 shares of the company were exchanged, compared to its average volume of 2,408,811. SolarEdge Technologies has a 52 week low of $57.72 and a 52 week high of $322.19. 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 stock has a 50-day moving average price of $70.20 and a 200 day moving average price of $80.44. The stock has a market cap of $3.41 billion, a PE ratio of 132.76 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS 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 firm had revenue of $316.04 million during the quarter, compared to analysts' expectations of $319.97 million. Analysts forecast that SolarEdge Technologies will post -4.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director More Avery purchased 7,000 shares of the business's stock in a transaction on Thursday, February 29th. The shares were acquired at an average cost of $67.75 per share, with a total value of $474,250.00. Following the completion of the acquisition, the director now owns 77,446 shares of the company's stock, valued at $5,246,966.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its position in shares of SolarEdge Technologies by 89.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company's stock valued at $229,298,000 after acquiring an additional 835,290 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of SolarEdge Technologies by 108.5% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company's stock valued at $193,626,000 after purchasing an additional 778,034 shares during the period. Voloridge Investment Management LLC raised its stake in shares of SolarEdge Technologies by 371.8% in the fourth quarter. Voloridge Investment Management LLC now owns 665,524 shares of the semiconductor company's stock worth $62,293,000 after purchasing an additional 524,476 shares during the last quarter. Invenomic Capital Management LP purchased a new position in shares of SolarEdge Technologies in the fourth quarter worth about $42,644,000. Finally, Norges Bank purchased a new stake in SolarEdge Technologies in the fourth quarter valued at approximately $39,547,000. 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.