SolarEdge Technologies (NASDAQ:SEDG – Free Report) had its target price cut by Barclays from $37.00 to $36.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.
Other equities analysts also recently issued reports about the company. UBS Group raised SolarEdge Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $36.00 to $42.00 in a report on Wednesday, August 26th. Susquehanna cut their price objective on shares of SolarEdge Technologies from $56.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, August 6th. Wells Fargo & Company started coverage on shares of SolarEdge Technologies in a research report on Monday, June 29th. They set an “equal weight” rating and a $36.00 price objective for the company. Morgan Stanley lowered their target price on shares of SolarEdge Technologies from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Friday, September 11th. Finally, TD Cowen dropped their target price on shares of SolarEdge Technologies from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $39.13.
Read Our Latest Analysis on SEDG
SolarEdge Technologies Stock Down 0.8%
SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.07. SolarEdge Technologies had a negative return on equity of 29.17% and a negative net margin of 20.29%. The business had revenue of $346.20 million during the quarter, compared to analysts’ expectations of $341.15 million. During the same period in the prior year, the firm posted ($0.81) EPS. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, sell-side analysts expect that SolarEdge Technologies will post -1.20 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in shares of SolarEdge Technologies by 18.7% during the third quarter. Farther Finance Advisors LLC now owns 3,045 shares of the semiconductor company’s stock worth $97,000 after acquiring an additional 479 shares during the last quarter. Miller Global Investments LLC increased its holdings in shares of SolarEdge Technologies by 61.2% in the 3rd quarter. Miller Global Investments LLC now owns 5,747 shares of the semiconductor company’s stock valued at $183,000 after acquiring an additional 2,181 shares during the period. State Street Corp raised its position in SolarEdge Technologies by 0.7% in the 2nd quarter. State Street Corp now owns 1,761,901 shares of the semiconductor company’s stock valued at $102,965,000 after purchasing an additional 12,188 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in SolarEdge Technologies by 80.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,746 shares of the semiconductor company’s stock valued at $1,329,000 after purchasing an additional 10,171 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in SolarEdge Technologies by 16.0% during the 2nd quarter. Tidal Investments LLC now owns 60,526 shares of the semiconductor company’s stock worth $3,537,000 after purchasing an additional 8,330 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.
SolarEdge Technologies Company Profile
SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for generating, storing and managing solar energy. The company is best known for its power optimizer and inverter architecture, which is designed to improve energy harvesting from photovoltaic panels and provide monitoring and control at the module level.
Its product portfolio includes power optimizers, residential and commercial inverters, battery-storage systems, backup-power solutions, electric-vehicle charging equipment and energy-management software.
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