Wells Fargo & Company Lowers SolarEdge Technologies (NASDAQ:SEDG) Price Target to $62.00

SolarEdge Technologies (NASDAQ:SEDG - Free Report) had its target price trimmed by Wells Fargo & Company from $81.00 to $62.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the semiconductor company's stock.

SEDG has been the topic of several other research reports. DZ Bank began coverage on SolarEdge Technologies in a research report on Wednesday, April 17th. They set a hold rating and a $62.00 price target on the stock. TD Cowen lowered their target price on shares of SolarEdge Technologies from $85.00 to $80.00 and set a buy rating on the stock in a report on Thursday, May 9th. B. Riley cut their price target on shares of SolarEdge Technologies from $133.00 to $124.00 and set a buy rating for the company in a research note on Monday, April 22nd. Barclays boosted their price objective on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the stock an underweight rating in a research note on Tuesday, April 16th. Finally, Mizuho dropped their target price on shares of SolarEdge Technologies from $104.00 to $84.00 and set a buy rating on the stock in a report on Friday, May 10th. Four analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, SolarEdge Technologies currently has a consensus rating of Hold and an average price target of $86.38.

SolarEdge Technologies Stock Down 4.5 %

SEDG traded down $2.40 during trading hours on Wednesday, hitting $51.35. 1,935,968 shares of the company's stock were exchanged, compared to its average volume of 2,413,960. The company has a quick ratio of 2.19, a current ratio of 4.54 and a debt-to-equity ratio of 0.30. SolarEdge Technologies has a 1-year low of $48.82 and a 1-year high of $306.98. The stock's 50-day moving average is $62.98 and its two-hundred day moving average is $72.95. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of -11.04 and a beta of 1.53.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, topping analysts' consensus estimates of ($2.01) by $0.60. The company had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. Sell-side analysts predict that SolarEdge Technologies will post -4.68 earnings per share for the current fiscal year.

Insider Buying and Selling at SolarEdge Technologies

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

Institutional Investors Weigh In On SolarEdge Technologies

Large investors have recently modified their holdings of the business. Quadrature Capital Ltd lifted its position in shares of SolarEdge Technologies by 1,206.8% during the 1st quarter. Quadrature Capital Ltd now owns 240,632 shares of the semiconductor company's stock worth $17,080,000 after buying an additional 222,218 shares during the last quarter. EntryPoint Capital LLC acquired a new position in SolarEdge Technologies during the first quarter worth about $64,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of SolarEdge Technologies by 16.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 146,005 shares of the semiconductor company's stock worth $10,363,000 after acquiring an additional 20,545 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in shares of SolarEdge Technologies by 2.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 549,163 shares of the semiconductor company's stock valued at $38,980,000 after purchasing an additional 10,866 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of SolarEdge Technologies by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company's stock valued at $166,618,000 after purchasing an additional 62,942 shares during the last quarter. 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.