SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $29.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $35.00 to $29.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 90.10% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Scotiabank lowered their target price on SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. DZ Bank downgraded SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price objective for the company. in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft cut their target price on shares of SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Susquehanna decreased their price target on shares of SolarEdge Technologies from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Finally, Guggenheim downgraded shares of SolarEdge Technologies from a “neutral” rating to a “sell” rating and set a $10.00 price objective on the stock. in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.52.

SolarEdge Technologies Stock Up 2.1 %

Shares of NASDAQ:SEDG opened at $15.26 on Wednesday. The firm has a market capitalization of $874.10 million, a PE ratio of -3.28 and a beta of 1.56. SolarEdge Technologies has a 1 year low of $14.82 and a 1 year high of $103.15. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45. The firm’s 50-day moving average is $21.22 and its two-hundred day moving average is $34.44.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($0.19). SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. The business had revenue of $265.41 million for the quarter, compared to analysts’ expectations of $264.31 million. During the same period in the previous year, the company earned $2.06 earnings per share. SolarEdge Technologies’s quarterly revenue was down 73.2% on a year-over-year basis. Analysts predict that SolarEdge Technologies will post -8.78 EPS for the current year.

Institutional Trading of SolarEdge Technologies

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC grew its position in SolarEdge Technologies by 90.0% during the first quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 289 shares during the period. Trillium Asset Management LLC grew its holdings in shares of SolarEdge Technologies by 1.6% during the 1st quarter. Trillium Asset Management LLC now owns 27,604 shares of the semiconductor company’s stock worth $1,960,000 after purchasing an additional 427 shares during the period. Yelin Lapidot Holdings Management Ltd. grew its holdings in shares of SolarEdge Technologies by 5.1% during the 2nd quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company’s stock worth $294,000 after purchasing an additional 564 shares during the period. Texas Permanent School Fund Corp increased its position in SolarEdge Technologies by 1.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 49,655 shares of the semiconductor company’s stock worth $3,525,000 after purchasing an additional 585 shares in the last quarter. Finally, Swiss National Bank raised its holdings in SolarEdge Technologies by 0.5% in the first quarter. Swiss National Bank now owns 112,100 shares of the semiconductor company’s stock valued at $7,957,000 after buying an additional 600 shares during the period. 95.10% of the stock is currently owned by hedge funds and other 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.