SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $20.00 at Roth Mkm

SolarEdge Technologies (NASDAQ:SEDG) had its price objective trimmed by Roth Mkm from $23.00 to $20.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

Other research analysts have also recently issued reports about the company. Piper Sandler dropped their target price on SolarEdge Technologies from $25.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Royal Bank of Canada cut their target price on shares of SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 15th. Susquehanna decreased their price target on shares of SolarEdge Technologies from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Jefferies Financial Group lowered SolarEdge Technologies from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $27.00 to $17.00 in a research note on Tuesday, September 17th. Finally, BMO Capital Markets cut their price target on SolarEdge Technologies from $24.00 to $21.00 and set a “market perform” rating for the company in a report on Monday, October 14th. Seven analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $34.44.

SolarEdge Technologies Price Performance

Shares of SEDG stock opened at $17.01 on Monday. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average price of $21.73 and a 200-day moving average price of $35.42. SolarEdge Technologies has a 52 week low of $16.45 and a 52 week high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). The company had revenue of $265.41 million during the quarter, compared to the consensus estimate of $264.31 million. SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. The company’s revenue for the quarter was down 73.2% on a year-over-year basis. During the same period last year, the firm posted $2.06 EPS. On average, sell-side analysts predict that SolarEdge Technologies will post -8.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in shares of SolarEdge Technologies by 90.0% in the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 289 shares during the last quarter. Trillium Asset Management LLC lifted its position in SolarEdge Technologies by 1.6% in the first quarter. Trillium Asset Management LLC now owns 27,604 shares of the semiconductor company’s stock worth $1,960,000 after buying an additional 427 shares during the last quarter. Yelin Lapidot Holdings Management Ltd. boosted its stake in SolarEdge Technologies by 5.1% during the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company’s stock worth $294,000 after buying an additional 564 shares during the period. Texas Permanent School Fund Corp increased its position in SolarEdge Technologies by 1.2% during the first quarter. Texas Permanent School Fund Corp now owns 49,655 shares of the semiconductor company’s stock valued at $3,525,000 after acquiring an additional 585 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of SolarEdge Technologies by 0.5% in the first quarter. Swiss National Bank now owns 112,100 shares of the semiconductor company’s stock valued at $7,957,000 after acquiring an additional 600 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Company Profile

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.