BMO Capital Markets Cuts SolarEdge Technologies (NASDAQ:SEDG) Price Target to $21.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective cut by BMO Capital Markets from $24.00 to $21.00 in a research report report published on Monday, Benzinga reports. They currently have a market perform rating on the semiconductor company’s stock.

Other equities analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Canaccord Genuity Group dropped their price objective on shares of SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Morgan Stanley dropped their price objective on shares of SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. The Goldman Sachs Group dropped their price objective on shares of SolarEdge Technologies from $25.00 to $19.00 and set a “sell” rating on the stock in a report on Friday, August 9th. Finally, TD Cowen dropped their price objective on shares of SolarEdge Technologies from $50.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, SolarEdge Technologies has a consensus rating of “Hold” and a consensus target price of $40.84.

SolarEdge Technologies Price Performance

SEDG stock opened at $18.57 on Monday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -3.99 and a beta of 1.56. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32. SolarEdge Technologies has a 12-month low of $17.12 and a 12-month high of $130.38. The company’s fifty day simple moving average is $21.90 and its 200 day simple moving average is $36.37.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.19). The firm had revenue of $265.41 million during the quarter, compared to analyst estimates of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. SolarEdge Technologies’s quarterly revenue was down 73.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.06 EPS. On average, analysts expect that SolarEdge Technologies will post -8.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Green Alpha Advisors LLC grew its position in shares of SolarEdge Technologies by 2.7% during the 1st quarter. Green Alpha Advisors LLC now owns 10,226 shares of the semiconductor company’s stock valued at $726,000 after acquiring an additional 270 shares during the period. GAMMA Investing LLC grew its position in shares of SolarEdge Technologies by 90.0% during the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 289 shares during the period. Royal London Asset Management Ltd. grew its position in shares of SolarEdge Technologies by 1.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 21,870 shares of the semiconductor company’s stock valued at $2,047,000 after acquiring an additional 378 shares during the period. Trillium Asset Management LLC grew its position in shares of SolarEdge Technologies by 1.6% during the 1st quarter. Trillium Asset Management LLC now owns 27,604 shares of the semiconductor company’s stock valued at $1,960,000 after acquiring an additional 427 shares during the period. Finally, Yelin Lapidot Holdings Management Ltd. grew its position in shares of SolarEdge Technologies by 5.1% during the 2nd quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company’s stock valued at $294,000 after acquiring an additional 564 shares during the period. 95.10% of the stock is owned by institutional investors.

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.