Piper Sandler Trims SolarEdge Technologies (NASDAQ:SEDG) Target Price to $17.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target decreased by Piper Sandler from $25.00 to $17.00 in a research note released on Thursday, Benzinga reports. Piper Sandler currently has a neutral rating on the semiconductor company’s stock.

SEDG has been the subject of a number of other research reports. BMO Capital Markets lowered their target price 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. The Goldman Sachs Group reduced their price target on SolarEdge Technologies from $25.00 to $19.00 and set a “sell” rating for the company in a research report on Friday, August 9th. Canaccord Genuity Group reduced their target price on shares of SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Glj Research downgraded shares of SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, Bank of America reduced their price objective on shares of SolarEdge Technologies from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Seven investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $39.35.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $17.31 on Thursday. The stock has a 50 day simple moving average of $21.73 and a 200 day simple moving average of $35.65. SolarEdge Technologies has a 52-week low of $16.91 and a 52-week high of $120.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. The firm has a market capitalization of $991.86 million, a PE ratio of -1.93 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The company had revenue of $265.41 million during the quarter, compared to the consensus estimate of $264.31 million. During the same period in the previous year, the firm posted $2.06 EPS. The business’s quarterly revenue was down 73.2% compared to the same quarter last year. Sell-side analysts predict that SolarEdge Technologies will post -8.53 EPS for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

A number of institutional investors have recently made changes to their positions in SEDG. GAMMA Investing LLC increased its position in SolarEdge Technologies by 90.0% during the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock worth $43,000 after buying an additional 289 shares during the period. EntryPoint Capital LLC bought a new stake in shares of SolarEdge Technologies in the first quarter valued at approximately $64,000. International Assets Investment Management LLC acquired a new stake in SolarEdge Technologies during the second quarter worth approximately $28,000. Hexagon Capital Partners LLC increased its stake in SolarEdge Technologies by 120.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock worth $79,000 after acquiring an additional 610 shares during the period. Finally, State Board of Administration of Florida Retirement System acquired a new position in SolarEdge Technologies in the 1st quarter valued at $236,000. 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.