DZ Bank Initiates Coverage on SolarEdge Technologies (NASDAQ:SEDG)

DZ Bank initiated coverage on shares of SolarEdge Technologies (NASDAQ:SEDG) in a research report released on Wednesday, Marketbeat reports. The firm issued a hold rating and a $62.00 target price on the semiconductor company’s stock.

A number of other research firms have also recently issued reports on SEDG. The Goldman Sachs Group decreased their price target on shares of SolarEdge Technologies from $83.00 to $71.00 and set a sell rating for the company in a report on Wednesday, January 24th. Canaccord Genuity Group reiterated a hold rating and issued a $75.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, February 21st. Royal Bank of Canada reduced their target price on shares of SolarEdge Technologies from $85.00 to $77.00 and set a sector perform rating for the company in a research note on Wednesday, February 21st. BMO Capital Markets reduced their target price on shares of SolarEdge Technologies from $85.00 to $80.00 and set a market perform rating for the company in a research note on Wednesday, February 21st. Finally, B. Riley reduced their target price on shares of SolarEdge Technologies from $166.00 to $133.00 and set a buy rating for the company in a research note on Monday, February 5th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $98.73.

SolarEdge Technologies Stock Down 2.8 %

SEDG stock opened at $55.80 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. SolarEdge Technologies has a 52-week low of $55.37 and a 52-week high of $321.61. The company has a 50-day moving average of $69.40 and a two-hundred day moving average of $79.53. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 124.00 and a beta of 1.51.

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 during the quarter, compared to analysts’ expectations of $319.97 million. As a group, equities research analysts anticipate that SolarEdge Technologies will post -4.04 EPS for the current year.

Insider Transactions at SolarEdge Technologies

In other news, Director More Avery acquired 7,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was bought 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 owns 77,446 shares in the company, valued at approximately $5,246,966.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.17% of the company’s stock.

Institutional Trading of SolarEdge Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of SEDG. Baillie Gifford & Co. increased its holdings 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 in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of SolarEdge Technologies by 108.5% in the third 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 purchasing an additional 778,034 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in shares of SolarEdge Technologies by 371.8% in the fourth quarter. Voloridge Investment Management LLC now owns 665,524 shares of the semiconductor company’s stock valued at $62,293,000 after purchasing an additional 524,476 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in shares of SolarEdge Technologies in the fourth quarter valued at approximately $42,644,000. Finally, Norges Bank acquired a new stake in shares of SolarEdge Technologies in the fourth quarter valued at approximately $39,547,000. 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.