SolarEdge Technologies (NASDAQ:SEDG) Research Coverage Started at DZ Bank

DZ Bank began coverage on shares of SolarEdge Technologies (NASDAQ:SEDG) in a research note released on Wednesday morning, Marketbeat reports. The brokerage issued a hold rating and a $62.00 price objective on the semiconductor company’s stock.

A number of other brokerages also recently commented on SEDG. Citigroup lowered their price target on shares of SolarEdge Technologies from $89.00 to $83.00 and set a neutral rating for the company in a report on Wednesday, February 21st. Canaccord Genuity Group reissued a hold rating and set a $75.00 price objective on shares of SolarEdge Technologies in a research note on Wednesday, February 21st. Barclays upped their price objective on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the company an underweight rating in a research note on Tuesday. Canaccord Genuity Group started coverage on shares of SolarEdge Technologies in a research note on Tuesday, January 16th. They set a hold rating and a $80.00 price objective on the stock. Finally, Mizuho reduced their price objective on shares of SolarEdge Technologies from $119.00 to $106.00 and set a buy rating on the stock in a research note on Thursday, February 22nd. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of Hold and an average target price of $98.81.

SolarEdge Technologies Price Performance

Shares of NASDAQ:SEDG opened at $59.74 on Wednesday. The business’s 50 day simple moving average is $70.20 and its 200-day simple moving average is $80.44. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 132.76 and a beta of 1.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. SolarEdge Technologies has a 12 month low of $57.72 and a 12 month high of $322.19.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, topping the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The company had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. As a group, equities analysts forecast that SolarEdge Technologies will post -4.04 earnings per share for the current fiscal year.

Insider Activity at SolarEdge Technologies

In other news, Director More Avery purchased 7,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average cost of $67.75 per share, with a total value of $474,250.00. Following the acquisition, the director now owns 77,446 shares in the company, valued at $5,246,966.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

A number of large investors have recently added to or reduced their stakes in SEDG. Panagora Asset Management Inc. grew its holdings in SolarEdge Technologies by 28.3% during the 1st quarter. Panagora Asset Management Inc. now owns 2,254 shares of the semiconductor company’s stock valued at $727,000 after purchasing an additional 497 shares in the last quarter. Rhumbline Advisers grew its holdings in SolarEdge Technologies by 2.7% during the 1st quarter. Rhumbline Advisers now owns 44,407 shares of the semiconductor company’s stock worth $14,315,000 after acquiring an additional 1,174 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in SolarEdge Technologies by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,027 shares of the semiconductor company’s stock worth $2,265,000 after acquiring an additional 435 shares in the last quarter. Cibc World Market Inc. grew its holdings in SolarEdge Technologies by 28.5% during the 1st quarter. Cibc World Market Inc. now owns 4,844 shares of the semiconductor company’s stock worth $1,562,000 after acquiring an additional 1,073 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in SolarEdge Technologies by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 210,973 shares of the semiconductor company’s stock worth $68,007,000 after acquiring an additional 1,902 shares in the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

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.