SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $35.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target reduced by Mizuho from $40.00 to $35.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s price objective suggests a potential upside of 71.82% from the stock’s current price.

A number of other research firms have also commented on SEDG. Jefferies Financial Group lowered SolarEdge Technologies from a “hold” rating to an “underperform” rating and cut their price target for the stock from $27.00 to $17.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft cut their target price on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Susquehanna decreased their price target on SolarEdge Technologies from $36.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. DZ Bank downgraded shares of SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price target on the stock. in a report on Wednesday, July 17th. Finally, Canaccord Genuity Group reduced their price objective on shares of SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating for the company in a research note on Tuesday, June 25th. Five investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $49.35.

SolarEdge Technologies Stock Down 3.9 %

SEDG stock opened at $20.37 on Thursday. The stock has a fifty day moving average of $24.36 and a 200-day moving average of $42.87. SolarEdge Technologies has a fifty-two week low of $17.12 and a fifty-two week high of $139.41. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -4.56 and a beta of 1.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $264.31 million. During the same quarter in the prior year, the business earned $2.06 EPS. SolarEdge Technologies’s revenue for the quarter was down 73.2% compared to the same quarter last year. As a group, equities research analysts predict that SolarEdge Technologies will post -8.67 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SEDG. Swedbank AB bought a new stake in SolarEdge Technologies during the 1st quarter valued at $261,312,000. Vanguard Group Inc. increased its position in shares of SolarEdge Technologies by 2.8% in the first quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock valued at $166,618,000 after acquiring an additional 62,942 shares during the period. Quarry LP bought a new position in shares of SolarEdge Technologies during the second quarter valued at about $36,627,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of SolarEdge Technologies by 0.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company’s stock worth $25,531,000 after purchasing an additional 2,795 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of SolarEdge Technologies by 425.1% in the second quarter. Marshall Wace LLP now owns 555,959 shares of the semiconductor company’s stock worth $14,044,000 after purchasing an additional 450,081 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

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.