SolarEdge Technologies (NASDAQ:SEDG) Price Target Increased to $61.00 by Analysts at Barclays

SolarEdge Technologies (NASDAQ:SEDG) had its target price lifted by Barclays from $50.00 to $61.00 in a research note published on Tuesday morning, Benzinga reports. Barclays currently has an underweight rating on the semiconductor company’s stock.

SEDG has been the topic of a number of other research reports. Janney Montgomery Scott cut SolarEdge Technologies from a buy rating to a neutral rating in a report on Friday, March 22nd. Truist Financial reduced their target price on SolarEdge Technologies from $80.00 to $75.00 and set a hold rating on the stock in a report on Thursday, February 22nd. Citigroup reduced their target price on SolarEdge Technologies from $89.00 to $83.00 and set a neutral rating on the stock in a report on Wednesday, February 21st. Wells Fargo & Company cut their price objective on SolarEdge Technologies from $91.00 to $81.00 and set an equal weight rating on the stock in a report on Thursday, February 22nd. Finally, Canaccord Genuity Group began coverage on SolarEdge Technologies in a report on Tuesday, January 16th. They set a hold rating and a $80.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $98.81.

SolarEdge Technologies Price Performance

Shares of SEDG stock opened at $57.39 on Tuesday. The stock has a 50-day moving average price of $69.84 and a 200 day moving average price of $80.28. 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 firm has a market cap of $3.28 billion, a price-to-earnings ratio of 127.53 and a beta of 1.51. SolarEdge Technologies has a 12 month low of $57.06 and a 12 month high of $321.61.

SolarEdge Technologies (NASDAQ:SEDG) last announced 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. 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 analyst estimates of $319.97 million. Research analysts expect that SolarEdge Technologies will post -4.04 EPS for the current year.

Insiders Place Their Bets

In other SolarEdge Technologies news, Director More Avery bought 7,000 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SEDG. NBC Securities Inc. acquired a new position in SolarEdge Technologies in the 3rd quarter valued at $25,000. Manchester Capital Management LLC grew its holdings in SolarEdge Technologies by 1,345.0% in the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 269 shares in the last quarter. Quarry LP acquired a new position in SolarEdge Technologies in the 1st quarter valued at $27,000. Harbour Investments Inc. grew its holdings in 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 buying an additional 50 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position in SolarEdge Technologies in the 1st quarter valued at $29,000. 95.10% of the stock is owned by institutional investors and hedge funds.

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.