SolarEdge Technologies (NASDAQ:SEDG) Price Target Increased to $374.00 by Analysts at Morgan Stanley
SolarEdge Technologies (NASDAQ:SEDG – Get Rating) had its price objective upped by Morgan Stanley from $344.00 to $374.00 in a report published on Tuesday, Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.
SEDG has been the topic of several other reports. Northland Securities upgraded shares of SolarEdge Technologies from an underperform rating to a market perform rating in a research note on Tuesday, November 8th. StockNews.com upgraded shares of SolarEdge Technologies to a sell rating in a research note on Friday, November 11th. Needham & Company LLC lowered their price objective on shares of SolarEdge Technologies from $380.00 to $370.00 and set a buy rating for the company in a research note on Tuesday, November 8th. TheStreet downgraded shares of SolarEdge Technologies from a b- rating to a c+ rating in a report on Wednesday, September 28th. Finally, B. Riley cut their price objective on shares of SolarEdge Technologies from $377.00 to $370.00 in a report on Tuesday, November 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $344.00.
SolarEdge Technologies Stock Up 0.5 %
SolarEdge Technologies stock opened at $285.48 on Tuesday. The stock has a market capitalization of $15.96 billion, a PE ratio of 140.63, a price-to-earnings-growth ratio of 1.19 and a beta of 1.28. SolarEdge Technologies has a twelve month low of $190.15 and a twelve month high of $375.90. The company has a quick ratio of 2.72, a current ratio of 3.53 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average of $292.06 and a 200-day moving average of $280.38.
SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last announced its quarterly earnings data on Monday, November 7th. The semiconductor company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.86). The business had revenue of $836.72 million during the quarter, compared to the consensus estimate of $825.69 million. SolarEdge Technologies has a return on equity of 5.75% and a net margin of 4.11%. On average, equity research analysts anticipate that SolarEdge Technologies will post 2.99 EPS for the current fiscal year.
Insider Buying and Selling at SolarEdge Technologies
In other SolarEdge Technologies news, VP Meir Adest sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $290.46, for a total value of $726,150.00. Following the completion of the sale, the vice president now owns 157,248 shares in the company, valued at $45,674,254.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via the SEC website. Over the last 90 days, insiders sold 7,500 shares of company stock worth $2,102,625. 1.17% of the stock is currently owned by insiders.
Hedge Funds Weigh In On SolarEdge Technologies
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of SolarEdge Technologies by 2.3% during the third quarter. Vanguard Group Inc. now owns 2,243,104 shares of the semiconductor company’s stock valued at $519,190,000 after acquiring an additional 49,486 shares in the last quarter. Pictet Asset Management SA raised its holdings in shares of SolarEdge Technologies by 7.0% during the second quarter. Pictet Asset Management SA now owns 1,743,403 shares of the semiconductor company’s stock valued at $477,135,000 after acquiring an additional 113,705 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in SolarEdge Technologies by 2.6% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 781,471 shares of the semiconductor company’s stock worth $213,873,000 after purchasing an additional 19,999 shares in the last quarter. Clearbridge Investments LLC raised its holdings in SolarEdge Technologies by 31.3% in the second quarter. Clearbridge Investments LLC now owns 625,494 shares of the semiconductor company’s stock worth $171,185,000 after purchasing an additional 149,116 shares in the last quarter. Finally, Amundi raised its holdings in SolarEdge Technologies by 15.7% in the second quarter. Amundi now owns 507,750 shares of the semiconductor company’s stock worth $136,958,000 after purchasing an additional 68,858 shares in the last quarter. Institutional investors own 80.01% of the company’s stock.
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.
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