Piper Sandler Cuts SolarEdge Technologies (NASDAQ:SEDG) Price Target to $315.00 – MarketBeat

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SolarEdge Technologies (NASDAQ:SEDG – Get Rating) had its price objective decreased by Piper Sandler from $385.00 to $315.00 in a report issued on Monday, The Fly reports. Piper Sandler’s price target would suggest a potential upside of 62.88% from the company’s previous close.
Other equities analysts have also issued research reports about the stock. StockNews.com initiated coverage on shares of SolarEdge Technologies in a report on Wednesday, October 12th. They set a “sell” rating on the stock. TheStreet lowered SolarEdge Technologies from a “b-” rating to a “c+” rating in a report on Wednesday, September 28th. JPMorgan Chase & Co. boosted their price objective on SolarEdge Technologies from $373.00 to $419.00 and gave the company an “overweight” rating in a report on Monday, August 8th. Needham & Company LLC reduced their price target on shares of SolarEdge Technologies from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. Finally, Oppenheimer upped their price objective on shares of SolarEdge Technologies from $334.00 to $400.00 in a report on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $356.88.

SolarEdge Technologies Trading Down 3.3 %

NASDAQ SEDG opened at $193.39 on Monday. The stock has a market capitalization of $10.71 billion, a P/E ratio of 75.54, a P/E/G ratio of 1.64 and a beta of 1.29. The business has a 50 day simple moving average of $276.68 and a 200 day simple moving average of $279.33. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.96. SolarEdge Technologies has a one year low of $190.15 and a one year high of $389.71.
SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The semiconductor company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.53). The company had revenue of $727.77 million for the quarter, compared to analyst estimates of $725.75 million. SolarEdge Technologies had a return on equity of 8.56% and a net margin of 5.78%. Research analysts expect that SolarEdge Technologies will post 4.05 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Meir Adest sold 1,352 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $300.68, for a total transaction of $406,519.36. Following the completion of the sale, the vice president now owns 182,309 shares in the company, valued at $54,816,670.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director More Avery sold 46,319 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $82.70, for a total transaction of $3,830,581.30. Following the transaction, the director now owns 543,782 shares of the company’s stock, valued at approximately $44,970,771.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Meir Adest sold 1,352 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $300.68, for a total value of $406,519.36. Following the transaction, the vice president now owns 182,309 shares of the company’s stock, valued at approximately $54,816,670.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,571 shares of company stock valued at $10,183,247. 1.17% of the stock is owned by insiders.

Institutional Investors Weigh In On SolarEdge Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC lifted its stake in shares of SolarEdge Technologies by 79.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 95 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 42 shares in the last quarter. Elequin Capital LP purchased a new stake in shares of SolarEdge Technologies during the first quarter worth $32,000. AllSquare Wealth Management LLC purchased a new stake in shares of SolarEdge Technologies during the second quarter worth $27,000. First Horizon Advisors Inc. boosted its holdings in shares of SolarEdge Technologies by 274.1% in the first quarter. First Horizon Advisors Inc. now owns 101 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 74 shares during the period. Finally, Addison Advisors LLC purchased a new position in shares of SolarEdge Technologies in the first quarter valued at $37,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

About SolarEdge Technologies

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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.

Further Reading

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