SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives $98.38 Consensus Target Price from Analysts

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has received a consensus recommendation of “Hold” from the thirty brokerages that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, twenty-two have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $93.73.

Several research analysts recently commented on the company. Citigroup dropped their price target on SolarEdge Technologies from $83.00 to $71.00 and set a “neutral” rating for the company in a research report on Thursday. Mizuho dropped their target price on SolarEdge Technologies from $106.00 to $104.00 and set a “buy” rating for the company in a report on Friday, April 19th. Royal Bank of Canada cut their target price on SolarEdge Technologies from $74.00 to $71.00 and set a “sector perform” rating on the stock in a research report on Thursday. Wells Fargo & Company lowered their price target on SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating for the company in a research report on Thursday, February 22nd. Finally, Northland Securities cut shares of SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday.

Insider Activity

In other news, Director More Avery bought 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the acquisition, the director now directly owns 77,446 shares of the company’s stock, valued at approximately $5,246,966.50. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its position in shares of SolarEdge Technologies by 89.3% in the third 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 lifted its stake in SolarEdge Technologies by 108.5% in 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 buying an additional 778,034 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in SolarEdge Technologies in the 4th quarter worth about $42,644,000. Norges Bank purchased a new stake in SolarEdge Technologies during the 4th quarter worth approximately $39,547,000. Finally, Impax Asset Management Group plc raised its holdings in shares of SolarEdge Technologies by 46.3% during the third quarter. Impax Asset Management Group plc now owns 939,386 shares of the semiconductor company’s stock valued at $121,067,000 after acquiring an additional 297,089 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Stock Down 8.5 %

NASDAQ SEDG opened at $52.67 on Friday. The stock has a 50 day moving average price of $64.30 and a 200-day moving average price of $73.85. SolarEdge Technologies has a one year low of $51.65 and a one year high of $315.34. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. The company has a market capitalization of $3.02 billion, a P/E ratio of 117.04 and a beta of 1.53.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The company had revenue of $316.04 million for the quarter, compared to the consensus estimate of $319.97 million. As a group, equities analysts predict that SolarEdge Technologies will post -4.68 EPS for the current fiscal year.

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.