SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $62.00 at Wells Fargo & Company

SolarEdge Technologies (NASDAQ:SEDG) had its price objective reduced by Wells Fargo & Company from $81.00 to $62.00 in a report released on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

Several other equities analysts have also recently issued reports on SEDG. Scotiabank decreased 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. TD Cowen decreased their target price on shares of SolarEdge Technologies from $85.00 to $80.00 and set a buy rating for the company in a research note on Thursday, May 9th. Janney Montgomery Scott cut shares of SolarEdge Technologies from a buy rating to a neutral rating in a research note on Friday, March 22nd. Truist Financial decreased their target price on shares of SolarEdge Technologies from $80.00 to $75.00 and set a hold rating for the company in a research note on Thursday, February 22nd. Finally, Piper Sandler decreased 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. Four analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $86.38.

SolarEdge Technologies Stock Down 4.2 %

Shares of NASDAQ SEDG opened at $48.41 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.19 and a current ratio of 4.54. SolarEdge Technologies has a 12 month low of $48.41 and a 12 month high of $306.98. The company has a 50 day simple moving average of $61.94 and a two-hundred day simple moving average of $72.61.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. The business had revenue of $316.04 million during the quarter, compared to analysts’ expectations of $319.97 million. As a group, research analysts expect that SolarEdge Technologies will post -6.08 earnings per share for the current year.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of SolarEdge Technologies stock in a transaction dated 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 completion of the transaction, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.17% of the company’s stock.

Institutional Trading of SolarEdge Technologies

Hedge funds have recently made changes to their positions in the business. Altshuler Shaham Ltd lifted its position in shares of SolarEdge Technologies by 143.8% during the third quarter. Altshuler Shaham Ltd now owns 20,856 shares of the semiconductor company’s stock worth $2,701,000 after purchasing an additional 12,302 shares in the last quarter. International Assets Investment Management LLC raised its holdings in SolarEdge Technologies by 20,293.3% in the fourth quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock valued at $9,716,000 after acquiring an additional 103,293 shares in the last quarter. Royal London Asset Management Ltd. raised its holdings in SolarEdge Technologies by 5.4% in the third quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company’s stock valued at $2,782,000 after acquiring an additional 1,101 shares in the last quarter. Compagnie Lombard Odier SCmA raised its holdings in SolarEdge Technologies by 250.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock valued at $66,000 after acquiring an additional 500 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in SolarEdge Technologies by 129.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 205,814 shares of the semiconductor company’s stock valued at $19,264,000 after acquiring an additional 116,176 shares in the last quarter. Institutional investors and hedge funds 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.