B. Riley Lowers SolarEdge Technologies (NASDAQ:SEDG) Price Target to $124.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective decreased by B. Riley from $133.00 to $124.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price target indicates a potential upside of 118.43% from the stock’s previous close.

Several other equities research analysts also recently issued reports on SEDG. Truist Financial lowered their price target on SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, February 22nd. Citigroup lowered their price target on SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Mizuho reduced their target price on shares of SolarEdge Technologies from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Canaccord Genuity Group reiterated a “hold” rating and issued a $75.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, February 21st. Finally, DZ Bank initiated coverage on shares of SolarEdge Technologies in a research note on Wednesday, April 17th. They set a “hold” rating and a $62.00 price target for the company. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $98.38.

SolarEdge Technologies Trading Up 4.1 %

SolarEdge Technologies stock opened at $56.77 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 126.16 and a beta of 1.51. SolarEdge Technologies has a one year low of $53.59 and a one year high of $321.33. The company’s fifty day moving average price is $68.43 and its two-hundred day moving average price is $78.27.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, topping the consensus estimate of ($2.01) by $0.60. The firm had revenue of $316.04 million for the quarter, compared to the consensus estimate of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. On average, analysts forecast that SolarEdge Technologies will post -4.11 earnings per share for the current fiscal year.

Insider Activity at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were purchased at an average cost of $67.75 per share, with a total value of $474,250.00. Following the transaction, the director now directly owns 77,446 shares of the company’s stock, valued at approximately $5,246,966.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SolarEdge Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Yelin Lapidot Holdings Management Ltd. lifted its position in SolarEdge Technologies by 0.6% during the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 21,513 shares of the semiconductor company’s stock worth $2,014,000 after buying an additional 130 shares in the last quarter. Legacy Wealth Asset Management LLC increased its stake in shares of SolarEdge Technologies by 9.4% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,684 shares of the semiconductor company’s stock worth $218,000 after purchasing an additional 145 shares during the last quarter. Liberty One Investment Management LLC increased its stake in shares of SolarEdge Technologies by 4.2% during the 4th quarter. Liberty One Investment Management LLC now owns 3,683 shares of the semiconductor company’s stock worth $345,000 after purchasing an additional 148 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of SolarEdge Technologies by 194.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 183 shares during the last quarter. Finally, South Street Advisors LLC increased its stake in shares of SolarEdge Technologies by 2.9% during the 3rd quarter. South Street Advisors LLC now owns 6,512 shares of the semiconductor company’s stock worth $843,000 after purchasing an additional 185 shares during the last quarter. 95.10% of the stock is owned by institutional investors.

About SolarEdge Technologies

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.