Wells Fargo & Company Initiates Coverage on SolarEdge Technologies (NASDAQ:SEDG)

Key Points

• Wells Fargo initiated coverage on SolarEdge Technologies with an equal weight rating and a $36 price target, implying about 30% downside from the prior close.
• Wall Street sentiment remains cautious overall: MarketBeat shows a consensus “Reduce” rating and an average price target of $35.67, even though some firms recently raised targets or upgraded the stock.
• SolarEdge recently reported Q1 earnings below expectations, posting a smaller-than-expected loss per share while revenue beat estimates; shares were trading at $51.46 on Monday, near the middle of its 52-week range.

Equities research analysts at Wells Fargo & Company began coverage on shares of SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) in a report issued on Monday. The brokerage set an "equal weight" rating and a $36.00 price target on the semiconductor company's stock. Wells Fargo & Company's price target indicates a potential downside of 30.05% from the company's previous close.

Several other equities research analysts have also recently commented on the company. TD Cowen boosted their target price on SolarEdge Technologies from $43.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, May 29th. Bank of America upgraded SolarEdge Technologies from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $17.00 to $40.00 in a report on Tuesday, March 10th. Glj Research reissued a "sell" rating on shares of SolarEdge Technologies in a research note on Thursday, June 11th. Barclays boosted their price objective on shares of SolarEdge Technologies from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 8th. Finally, JPMorgan Chase & Co. raised their price objective on SolarEdge Technologies from $32.00 to $35.00 and gave the company a "neutral" rating in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and seven have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $35.67.

SolarEdge Technologies Price Performance

NASDAQ:SEDG traded down $0.29 during mid-day trading on Monday, hitting $51.46. The company's stock had a trading volume of 94,906 shares, compared to its average volume of 3,599,787. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -8.46 and a beta of 1.42. The company has a current ratio of 2.02, a quick ratio of 1.36 and a debt-to-equity ratio of 0.85. SolarEdge Technologies has a fifty-two week low of $19.73 and a fifty-two week high of $81.25. The stock has a fifty day moving average of $54.59 and a 200-day moving average of $43.09.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.20). The business had revenue of $309.90 million during the quarter, compared to analyst estimates of $305.49 million. SolarEdge Technologies had a negative return on equity of 38.66% and a negative net margin of 28.56%.SolarEdge Technologies's revenue for the quarter was up 41.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.14) EPS. As a group, equities analysts forecast that SolarEdge Technologies will post -1.12 EPS for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery sold 2,566 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $38.76, for a total transaction of $99,458.16. Following the transaction, the chairman owned 295,379 shares in the company, valued at $11,448,890.04. This represents a 0.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SolarEdge Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund lifted its position in shares of SolarEdge Technologies by 2.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,677 shares of the semiconductor company's stock valued at $395,000 after acquiring an additional 300 shares during the period. State of Wyoming raised its stake in SolarEdge Technologies by 32.9% in the first quarter. State of Wyoming now owns 1,237 shares of the semiconductor company's stock valued at $63,000 after purchasing an additional 306 shares in the last quarter. Rakuten Securities Inc. lifted its position in SolarEdge Technologies by 82.1% during the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 432 shares during the period. Tidal Investments LLC lifted its position in SolarEdge Technologies by 1.2% during the second quarter. Tidal Investments LLC now owns 42,411 shares of the semiconductor company's stock worth $865,000 after purchasing an additional 484 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in SolarEdge Technologies by 7.9% during the third quarter. PNC Financial Services Group Inc. now owns 7,269 shares of the semiconductor company's stock worth $269,000 after buying an additional 530 shares in the last quarter. Institutional investors own 95.10% of the company's stock.

About SolarEdge Technologies

SolarEdge Technologies NASDAQ: SEDG is a global provider of solar energy solutions focused on optimizing photovoltaic (PV) power generation. The company's core offerings include power optimizers, inverters and cloud-based monitoring platforms designed to maximize energy output and improve safety across residential, commercial and utility-scale installations. By coupling module-level electronics with centralized inverters, SolarEdge's technology enables real-time performance monitoring and rapid fault detection to enhance system reliability.

In recent years, SolarEdge has expanded its product portfolio beyond solar PV to include energy storage systems, electric vehicle (EV) charging solutions and smart energy management tools.

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