SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $92.00 by Analysts at Susquehanna

SolarEdge Technologies (NASDAQ:SEDG - Free Report) had its price target reduced by Susquehanna from $97.00 to $92.00 in a research note published on Friday, Benzinga reports. Susquehanna currently has a positive rating on the semiconductor company's stock.

Several other equities analysts have also issued reports on SEDG. Barclays reissued an underweight rating and set a $50.00 price objective (down from $74.00) on shares of SolarEdge Technologies in a report on Wednesday, January 17th. Mizuho reduced their price target on SolarEdge Technologies from $119.00 to $106.00 and set a buy rating on the stock in a research report on Thursday, February 22nd. BMO Capital Markets reduced their price target on SolarEdge Technologies from $85.00 to $80.00 and set a market perform rating on the stock in a research report on Wednesday, February 21st. Canaccord Genuity Group initiated coverage on SolarEdge Technologies in a research report on Tuesday, January 16th. They set a hold rating and a $80.00 price target on the stock. Finally, Scotiabank reduced their price target on SolarEdge Technologies from $93.00 to $90.00 and set a sector perform rating on the stock in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a sell rating, twenty have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, SolarEdge Technologies has an average rating of Hold and an average price target of $109.50.

SolarEdge Technologies Stock Down 3.0 %

SEDG stock traded down $2.08 during trading on Friday, hitting $66.69. 1,710,406 shares of the company's stock traded hands, compared to its average volume of 2,487,113. The firm has a market capitalization of $3.81 billion, a P/E ratio of 148.20 and a beta of 1.51. The business has a fifty day simple moving average of $70.77 and a two-hundred day simple moving average of $84.54. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28. SolarEdge Technologies has a 1 year low of $60.44 and a 1 year high of $322.19.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.01) by $0.60. The company had revenue of $316.04 million for the quarter, compared to analyst estimates of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. Sell-side analysts anticipate that SolarEdge Technologies will post -3.94 EPS for the current year.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was bought at an average price of $67.75 per share, with a total value of $474,250.00. Following the transaction, the director now directly owns 77,446 shares of the company's stock, valued at approximately $5,246,966.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.17% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors raised its holdings in shares of SolarEdge Technologies by 3.5% in the 4th quarter. Captrust Financial Advisors now owns 1,162 shares of the semiconductor company's stock valued at $329,000 after purchasing an additional 39 shares in the last quarter. United Capital Financial Advisers LLC raised its holdings in shares of SolarEdge Technologies by 2.0% in the 1st quarter. United Capital Financial Advisers LLC now owns 2,394 shares of the semiconductor company's stock valued at $772,000 after purchasing an additional 46 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of SolarEdge Technologies by 49.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 145 shares of the semiconductor company's stock valued at $41,000 after purchasing an additional 48 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of SolarEdge Technologies by 5.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 1,011 shares of the semiconductor company's stock valued at $286,000 after purchasing an additional 49 shares in the last quarter. Finally, Harbour Investments Inc. raised its holdings in shares of SolarEdge Technologies by 102.0% in the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 50 shares in the last quarter. 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.