SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have received a consensus recommendation of “Hold” from the thirty brokerages that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, twenty-two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $93.73.

Several research firms have recently commented on SEDG. Scotiabank reduced their target price on 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. Janney Montgomery Scott cut SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, March 22nd. Royal Bank of Canada reduced their price objective on SolarEdge Technologies from $74.00 to $71.00 and set a “sector perform” rating for the company in a research report on Thursday. Roth Mkm lowered their price objective on SolarEdge Technologies from $76.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, B. Riley cut their target price on SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd.

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock opened at $52.67 on Friday. 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 12 month low of $51.65 and a 12 month high of $315.34. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 117.04 and a beta of 1.53. The stock’s 50-day moving average is $64.30 and its 200-day moving average is $73.85.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.01) by $0.60. The company had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. Equities analysts anticipate that SolarEdge Technologies will post -4.68 earnings per share for the current year.

Insider Activity

In other news, Director More Avery acquired 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average price of $67.75 per share, with a total value of $474,250.00. Following the purchase, the director now owns 77,446 shares of the company’s stock, valued at approximately $5,246,966.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.17% of the stock is owned by company insiders.

Institutional Trading of SolarEdge Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in SolarEdge Technologies by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock worth $327,566,000 after acquiring an additional 92,230 shares during the period. Baillie Gifford & Co. grew its position in SolarEdge Technologies by 89.3% during 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 stake in SolarEdge Technologies by 108.5% in the 3rd 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 buying an additional 778,034 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its position in SolarEdge Technologies by 2.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,007,934 shares of the semiconductor company’s stock worth $71,543,000 after buying an additional 23,033 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its position in SolarEdge Technologies by 1.6% in the 4th quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company’s stock worth $88,890,000 after buying an additional 14,878 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.