SolarEdge Technologies (NASDAQ:SEDG – Get Rating) had its price target lifted by equities researchers at Oppenheimer from $334.00 to $400.00 in a research note issued on Wednesday, The Fly reports. Oppenheimer’s target price indicates a potential upside of 35.52% from the company’s previous close.
A number of other brokerages have also recently issued reports on SEDG. Guggenheim upped their target price on SolarEdge Technologies from $348.00 to $389.00 in a report on Wednesday. StockNews.com raised SolarEdge Technologies to a “sell” rating in a research note on Saturday, July 2nd. Citigroup increased their price target on SolarEdge Technologies from $255.00 to $300.00 and gave the company a “hold” rating in a research note on Tuesday, May 3rd. Stephens initiated coverage on SolarEdge Technologies in a research note on Wednesday, April 13th. They issued an “overweight” rating and a $490.00 price target for the company. Finally, Truist Financial initiated coverage on SolarEdge Technologies in a research note on Monday, May 2nd. They issued a “buy” rating and a $340.00 price target for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $356.08.
SolarEdge Technologies Stock Performance
Shares of SEDG stock traded down $70.24 during trading on Wednesday, reaching $295.17. 256,173 shares of the company’s stock were exchanged, compared to its average volume of 944,582. The company has a quick ratio of 3.57, a current ratio of 4.33 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $16.35 billion, a PE ratio of 94.61, a PEG ratio of 2.67 and a beta of 1.15. SolarEdge Technologies has a twelve month low of $200.86 and a twelve month high of $389.71. The firm’s fifty day moving average price is $287.05 and its 200-day moving average price is $278.64.
Solar Stocks Dim This Year After Luminous 2020
SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last released its earnings results on Monday, May 2nd. The semiconductor company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.18). The company had revenue of $655.08 million for the quarter, compared to the consensus estimate of $634.70 million. SolarEdge Technologies had a net margin of 7.78% and a return on equity of 11.59%. As a group, sell-side analysts anticipate that SolarEdge Technologies will post 4.7 EPS for the current year.
Insider Buying and Selling at SolarEdge Technologies
In other SolarEdge Technologies news, insider Meir Adest sold 5,000 shares of the stock in a transaction on Monday, June 13th. The stock was sold at an average price of $263.61, for a total value of $1,318,050.00. Following the completion of the sale, the insider now owns 186,057 shares in the company, valued at approximately $49,046,485.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other SolarEdge Technologies news, VP Rachel Prishkolnik sold 1,900 shares of the stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $301.58, for a total transaction of $573,002.00. Following the completion of the transaction, the vice president now owns 12,581 shares of the company’s stock, valued at approximately $3,794,177.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Meir Adest sold 5,000 shares of the stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $263.61, for a total transaction of $1,318,050.00. Following the completion of the transaction, the insider now directly owns 186,057 shares of the company’s stock, valued at approximately $49,046,485.77. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,613 shares of company stock worth $3,007,896. Insiders own 1.60% of the company’s stock.
Institutional Trading of SolarEdge Technologies
Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in SolarEdge Technologies by 63.8% during the fourth quarter. Geode Capital Management LLC now owns 811,454 shares of the semiconductor company’s stock valued at $226,980,000 after buying an additional 316,001 shares during the period. Pictet Asset Management SA lifted its position in SolarEdge Technologies by 30.1% during the fourth quarter. Pictet Asset Management SA now owns 1,284,822 shares of the semiconductor company’s stock valued at $360,483,000 after purchasing an additional 297,272 shares during the period. Robeco Schweiz AG acquired a new position in SolarEdge Technologies during the first quarter valued at $94,454,000. 1832 Asset Management L.P. purchased a new position in SolarEdge Technologies in the first quarter valued at $86,575,000. Finally, Clearbridge Investments LLC increased its holdings in SolarEdge Technologies by 120.4% in the first quarter. Clearbridge Investments LLC now owns 476,378 shares of the semiconductor company’s stock valued at $153,570,000 after buying an additional 260,203 shares in the last quarter. Institutional investors own 75.73% of the company’s stock.
About SolarEdge Technologies
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.