SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $61.00 at Barclays

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

Other analysts have also recently issued research reports about the company. B. Riley lowered their price objective on SolarEdge Technologies from $166.00 to $133.00 and set a buy rating for the company in a research report on Monday, February 5th. Wells Fargo & Company lowered their price objective 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. Janney Montgomery Scott cut SolarEdge Technologies from a buy rating to a neutral rating in a research report on Friday, March 22nd. Piper Sandler reduced their target price on SolarEdge Technologies from $105.00 to $77.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. Finally, Canaccord Genuity Group restated a hold rating and issued a $75.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of Hold and an average target price of $100.28.

SolarEdge Technologies Stock Down 1.5 %

Shares of NASDAQ SEDG opened at $59.52 on Tuesday. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $3.40 billion, a PE ratio of 132.27 and a beta of 1.51. The stock’s fifty day simple moving average is $70.53 and its two-hundred day simple moving average is $80.58. SolarEdge Technologies has a 12-month low of $57.72 and a 12-month high of $322.19.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share 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 return on equity of 5.00% and a net margin of 1.15%. As a group, analysts expect that SolarEdge Technologies will post -4.04 EPS for the current fiscal year.

Insider Activity

In other SolarEdge Technologies news, Director More Avery bought 7,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were purchased at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the transaction, the director now directly owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

Several institutional investors have recently bought and sold shares of SEDG. Panagora Asset Management Inc. boosted its holdings in SolarEdge Technologies by 28.3% in the 1st quarter. Panagora Asset Management Inc. now owns 2,254 shares of the semiconductor company’s stock worth $727,000 after buying an additional 497 shares during the last quarter. Rhumbline Advisers boosted its holdings in SolarEdge Technologies by 2.7% in the 1st quarter. Rhumbline Advisers now owns 44,407 shares of the semiconductor company’s stock worth $14,315,000 after buying an additional 1,174 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in SolarEdge Technologies by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,027 shares of the semiconductor company’s stock worth $2,265,000 after buying an additional 435 shares during the last quarter. Cibc World Market Inc. boosted its holdings in SolarEdge Technologies by 28.5% in the 1st quarter. Cibc World Market Inc. now owns 4,844 shares of the semiconductor company’s stock worth $1,562,000 after buying an additional 1,073 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of SolarEdge Technologies by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 210,973 shares of the semiconductor company’s stock worth $68,007,000 after purchasing an additional 1,902 shares during the last quarter. 95.10% of the stock is currently 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.