DZ Bank Initiates Coverage on SolarEdge Technologies (NASDAQ:SEDG)

DZ Bank assumed coverage on shares of SolarEdge Technologies (NASDAQ:SEDG) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage issued a hold rating and a $62.00 price target on the semiconductor company’s stock.

Several other analysts have also recently issued reports on SEDG. B. Riley decreased their price objective on SolarEdge Technologies from $166.00 to $133.00 and set a buy rating on the stock in a report on Monday, February 5th. 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. Piper Sandler decreased their price objective on SolarEdge Technologies from $105.00 to $77.00 and set a neutral rating on the stock in a report on Wednesday, February 21st. Barclays increased their price target on SolarEdge Technologies from $50.00 to $61.00 and gave the company an underweight rating in a report on Tuesday, April 16th. Finally, Susquehanna decreased their price target on SolarEdge Technologies from $97.00 to $92.00 and set a positive rating on the stock in a report on Friday, April 5th. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $98.73.

SolarEdge Technologies Stock Down 2.8 %

NASDAQ SEDG opened at $55.80 on Wednesday. The stock has a market cap of $3.19 billion, a PE ratio of 124.00 and a beta of 1.51. SolarEdge Technologies has a 12 month low of $55.37 and a 12 month high of $321.61. The stock’s 50 day moving average is $69.40 and its 200 day moving average is $79.53. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.01) by $0.60. The business had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. Research analysts predict that SolarEdge Technologies will post -4.04 EPS for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In other news, Director More Avery purchased 7,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were acquired at an average price of $67.75 per share, with a total value of $474,250.00. Following the transaction, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of SolarEdge Technologies by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock worth $327,566,000 after purchasing an additional 92,230 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of SolarEdge Technologies by 89.3% during the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock worth $229,298,000 after purchasing an additional 835,290 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of SolarEdge Technologies by 108.5% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock worth $193,626,000 after purchasing an additional 778,034 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of SolarEdge Technologies by 10.0% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 984,901 shares of the semiconductor company’s stock worth $92,210,000 after purchasing an additional 89,279 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of SolarEdge Technologies by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 975,405 shares of the semiconductor company’s stock worth $295,685,000 after purchasing an additional 12,999 shares during the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

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.