SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $104.00 at Mizuho

SolarEdge Technologies (NASDAQ:SEDG) had its price objective lowered by Mizuho from $106.00 to $104.00 in a research note released on Friday morning, Benzinga reports. Mizuho currently has a buy rating on the semiconductor company’s stock.

SEDG has been the subject of a number of other reports. Citigroup reduced their price objective on shares of SolarEdge Technologies from $89.00 to $83.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. Piper Sandler cut their target price on shares of SolarEdge Technologies from $105.00 to $77.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. Janney Montgomery Scott cut shares of SolarEdge Technologies from a buy rating to a neutral rating in a research note on Friday, March 22nd. Canaccord Genuity Group started coverage on shares of SolarEdge Technologies in a research note on Tuesday, January 16th. They set a hold rating and a $80.00 target price for the company. Finally, Scotiabank cut their target price on shares of SolarEdge Technologies from $93.00 to $90.00 and set a sector perform rating for the company in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of Hold and an average price target of $98.38.

SolarEdge Technologies Stock Performance

Shares of NASDAQ SEDG opened at $54.51 on Friday. The firm has a fifty day moving average price of $68.82 and a 200-day moving average price of $78.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. The stock has a market cap of $3.11 billion, a PE ratio of 121.13 and a beta of 1.51. SolarEdge Technologies has a 1 year low of $53.59 and a 1 year high of $321.33.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.01) by $0.60. The firm had revenue of $316.04 million during the quarter, compared to analysts’ expectations of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. Equities analysts anticipate that SolarEdge Technologies will post -4.11 earnings per share for the current fiscal year.

Insider Activity at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery bought 7,000 shares of the business’s stock in a transaction on 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 approximately $5,246,966.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SEDG. Baillie Gifford & Co. increased its position in SolarEdge Technologies by 89.3% during the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock valued at $229,298,000 after purchasing an additional 835,290 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its position in 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 valued at $193,626,000 after purchasing an additional 778,034 shares during the period. Invenomic Capital Management LP purchased a new position in SolarEdge Technologies during the 4th quarter valued at about $42,644,000. Norges Bank purchased a new position in shares of SolarEdge Technologies in the 4th quarter worth approximately $39,547,000. Finally, Impax Asset Management Group plc grew its position in shares of SolarEdge Technologies by 46.3% in the 3rd quarter. Impax Asset Management Group plc now owns 939,386 shares of the semiconductor company’s stock worth $121,067,000 after buying an additional 297,089 shares during the last quarter. Hedge funds and other 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.