Deutsche Bank Aktiengesellschaft Cuts SolarEdge Technologies (NASDAQ:SEDG) Price Target to $55.00

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its price objective dropped by equities research analysts at Deutsche Bank Aktiengesellschaft from $75.00 to $55.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a "hold" rating on the semiconductor company's stock. Deutsche Bank Aktiengesellschaft's price objective suggests a potential upside of 11.18% from the stock's current price.

A number of other analysts also recently weighed in on the company. Canaccord Genuity Group decreased their price objective on SolarEdge Technologies from $75.00 to $58.00 and set a "hold" rating for the company in a report on Thursday. Susquehanna lowered their price objective on SolarEdge Technologies from $97.00 to $92.00 and set a "positive" rating for the company in a research report on Friday, April 5th. Piper Sandler cut their target price on SolarEdge Technologies from $105.00 to $77.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 21st. Truist Financial dropped their price target on SolarEdge Technologies from $80.00 to $75.00 and set a "hold" rating on the stock in a research note on Thursday, February 22nd. Finally, DZ Bank assumed coverage on shares of SolarEdge Technologies in a research report on Wednesday, April 17th. They set a "hold" rating and a $62.00 price objective for the company. Four 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 stock currently has a consensus rating of "Hold" and an average price target of $88.50.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock traded down $3.20 during trading hours on Friday, reaching $49.47. 3,962,571 shares of the stock were exchanged, compared to its average volume of 2,403,907. The stock has a 50 day moving average of $64.30 and a two-hundred day moving average of $73.85. SolarEdge Technologies has a twelve month low of $49.12 and a twelve month high of $315.34. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. The company has a market cap of $2.83 billion, a P/E ratio of 111.69 and a beta of 1.53.

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

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery bought 7,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were bought at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the purchase, 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 document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.17% of the company's stock.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Yelin Lapidot Holdings Management Ltd. lifted its stake in SolarEdge Technologies by 0.6% in the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 21,513 shares of the semiconductor company's stock worth $2,014,000 after purchasing an additional 130 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in SolarEdge Technologies by 9.4% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,684 shares of the semiconductor company's stock worth $218,000 after buying an additional 145 shares in the last quarter. Liberty One Investment Management LLC grew its position in SolarEdge Technologies by 4.2% during the fourth quarter. Liberty One Investment Management LLC now owns 3,683 shares of the semiconductor company's stock worth $345,000 after buying an additional 148 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in SolarEdge Technologies by 194.7% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company's stock worth $36,000 after acquiring an additional 183 shares during the last quarter. Finally, South Street Advisors LLC raised its holdings in shares of SolarEdge Technologies by 2.9% in the 3rd quarter. South Street Advisors LLC now owns 6,512 shares of the semiconductor company's stock valued at $843,000 after acquiring an additional 185 shares in the last quarter. Institutional investors 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.

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