SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $21.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price boosted by The Goldman Sachs Group from $19.00 to $21.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other brokerages also recently weighed in on SEDG. Mizuho downgraded SolarEdge Technologies from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $35.00 to $11.00 in a research report on Thursday, November 7th. Guggenheim raised SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. UBS Group decreased their target price on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Jefferies Financial Group downgraded SolarEdge Technologies from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $27.00 to $17.00 in a research report on Tuesday, September 17th. Finally, Susquehanna decreased their target price on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Eight investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $21.16.

SolarEdge Technologies Price Performance

SEDG stock opened at $14.99 on Tuesday. The stock has a 50-day moving average price of $14.05 and a two-hundred day moving average price of $19.88. SolarEdge Technologies has a 12-month low of $10.24 and a 12-month high of $87.98. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. The company has a market cap of $868.67 million, a PE ratio of -0.52 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The firm had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. During the same period last year, the firm posted ($1.03) EPS. SolarEdge Technologies’s revenue was down 64.0% on a year-over-year basis. As a group, research analysts predict that SolarEdge Technologies will post -19.18 EPS for the current year.

Insider Transactions at SolarEdge Technologies

In related news, Chairman More Avery purchased 156,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the transaction, the chairman now owns 244,478 shares of the company’s stock, valued at $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.67% of the company’s stock.

Institutional Trading of SolarEdge Technologies

Several large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in SolarEdge Technologies by 655.2% in the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 4,567 shares during the period. Tidal Investments LLC increased its position in SolarEdge Technologies by 19.7% in the 3rd quarter. Tidal Investments LLC now owns 63,862 shares of the semiconductor company’s stock valued at $1,463,000 after acquiring an additional 10,515 shares during the period. Geode Capital Management LLC increased its position in SolarEdge Technologies by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company’s stock valued at $16,227,000 after acquiring an additional 25,474 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in SolarEdge Technologies in the 3rd quarter valued at approximately $278,000. Finally, Two Sigma Advisers LP increased its position in SolarEdge Technologies by 0.3% in the 3rd quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company’s stock valued at $26,166,000 after acquiring an additional 3,400 shares during the period. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.