SolarEdge Technologies (NASDAQ:SEDG – Free Report) had its price objective reduced by BMO Capital Markets from $31.00 to $28.00 in a research note published on Wednesday,Benzinga reports. They currently have an underperform rating on the semiconductor company’s stock.
SEDG has been the subject of a number of other research reports. Wells Fargo & Company assumed coverage on SolarEdge Technologies in a report on Monday, June 29th. They set an “equal weight” rating and a $36.00 target price for the company. The Goldman Sachs Group decreased their price target on SolarEdge Technologies from $34.00 to $30.00 and set a “sell” rating on the stock in a research report on Thursday, August 6th. Wall Street Zen raised shares of SolarEdge Technologies from a “sell” rating to a “hold” rating in a report on Sunday, October 11th. Morgan Stanley cut their price objective on shares of SolarEdge Technologies from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Friday, September 11th. Finally, Weiss Ratings raised shares of SolarEdge Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $38.53.
View Our Latest Report on SEDG
SolarEdge Technologies Trading Up 1.2%
NASDAQ:SEDG opened at $33.32 on Wednesday. The company has a market cap of $2.05 billion, a P/E ratio of -7.40 and a beta of 1.44. The stock’s fifty day moving average price is $32.96 and its two-hundred day moving average price is $44.24. SolarEdge Technologies has a 1 year low of $28.21 and a 1 year high of $81.25. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.03 and a quick ratio of 1.38.
SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $346.20 million during the quarter, compared to analyst estimates of $341.15 million. During the same period last year, the company earned ($0.81) earnings per share. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. As a group, analysts expect that SolarEdge Technologies will post -1.21 EPS for the current year.
Institutional Investors Weigh In On SolarEdge Technologies
Several large investors have recently added to or reduced their stakes in SEDG. State Street Corp increased its stake 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 worth $102,965,000 after acquiring an additional 12,188 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of SolarEdge Technologies in the 2nd quarter valued at about $76,095,000. Handelsbanken Fonder AB boosted its position in shares of SolarEdge Technologies by 16.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 1,230,401 shares of the semiconductor company’s stock valued at $71,905,000 after acquiring an additional 175,281 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of SolarEdge Technologies during the 2nd quarter valued at about $55,514,000. Finally, Meitav Investment House Ltd. boosted its position in shares of SolarEdge Technologies by 541.6% during the 1st quarter. Meitav Investment House Ltd. now owns 1,017,551 shares of the semiconductor company’s stock valued at $51,946,000 after acquiring an additional 858,954 shares during the last quarter. Institutional investors own 95.10% of the company’s stock.
SolarEdge Technologies Company Profile
SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for solar energy generation, storage and management. Its core products include power optimizers, solar inverters and monitoring systems designed to improve the performance, visibility and safety of photovoltaic installations.
The company also offers complementary smart-energy solutions, including battery storage, electric-vehicle charging equipment, energy-management software and related products for residential, commercial and industrial customers.
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