SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have been given a consensus recommendation of “Hold” by the thirty analysts that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $97.62.

A number of analysts have weighed in on SEDG shares. The Goldman Sachs Group decreased their target price on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating on the stock in a research note on Wednesday, January 24th. Barclays upped their target price on SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Susquehanna cut their price target on SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating on the stock in a research note on Friday, April 5th. Scotiabank lowered their price objective on SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada cut their target price on shares of SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 21st.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG opened at $58.71 on Friday. SolarEdge Technologies has a twelve month low of $53.59 and a twelve month high of $315.34. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28. The stock’s 50-day simple moving average is $64.75 and its 200 day simple moving average is $74.12. The firm has a market capitalization of $3.36 billion, a PE ratio of 130.47 and a beta of 1.53.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, topping analysts’ consensus estimates of ($2.01) by $0.60. The firm had revenue of $316.04 million during the quarter, compared to analysts’ expectations of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. On average, analysts anticipate that SolarEdge Technologies will post -4.68 EPS for the current fiscal year.

Insider Activity

In other news, Director More Avery bought 7,000 shares of SolarEdge Technologies stock in a transaction dated Thursday, February 29th. The stock was bought at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the purchase, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

Large investors have recently modified their holdings of the company. Swiss National Bank raised its holdings in SolarEdge Technologies by 0.5% during the first quarter. Swiss National Bank now owns 112,100 shares of the semiconductor company’s stock worth $7,957,000 after buying an additional 600 shares during the last quarter. Texas Permanent School Fund Corp increased its position in shares of 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 worth $3,525,000 after acquiring an additional 585 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of SolarEdge Technologies by 113.3% in the 1st quarter. GSA Capital Partners LLP now owns 12,379 shares of the semiconductor company’s stock worth $879,000 after acquiring an additional 6,576 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in SolarEdge Technologies by 2.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,007,934 shares of the semiconductor company’s stock valued at $71,543,000 after acquiring an additional 23,033 shares in the last quarter. Finally, Perigon Wealth Management LLC boosted its stake in SolarEdge Technologies by 128.7% during the 1st quarter. Perigon Wealth Management LLC now owns 10,366 shares of the semiconductor company’s stock valued at $736,000 after purchasing an additional 5,834 shares during the last quarter. 95.10% of the stock is currently 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.