SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $12.00 by Analysts at BMO Capital Markets

SolarEdge Technologies (NASDAQ:SEDG) had its price target lowered by BMO Capital Markets from $21.00 to $12.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a market perform rating on the semiconductor company’s stock.

A number of other equities research analysts have also issued reports on SEDG. Citigroup cut their price target on shares of SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Glj Research cut SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lowered their price target on SolarEdge Technologies from $35.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Morgan Stanley dropped their price objective on SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating for the company in a report on Tuesday, October 8th. Finally, Scotiabank reduced their target price on SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Nine equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, SolarEdge Technologies presently has an average rating of “Hold” and an average target price of $23.79.

SolarEdge Technologies Trading Down 9.1 %

SolarEdge Technologies stock traded down $1.35 during trading hours on Thursday, reaching $13.53. The company had a trading volume of 7,872,062 shares, compared to its average volume of 3,473,123. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45. SolarEdge Technologies has a 12-month low of $12.38 and a 12-month high of $103.15. The company has a 50-day moving average price of $19.34 and a 200 day moving average price of $31.18. The firm has a market cap of $775.27 million, a price-to-earnings ratio of -0.46 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.19). SolarEdge Technologies had a negative return on equity of 56.32% and a negative net margin of 158.19%. The firm had revenue of $265.41 million during the quarter, compared to the consensus estimate of $264.31 million. During the same quarter in the prior year, the business posted $2.06 EPS. The firm’s revenue for the quarter was down 73.2% on a year-over-year basis. Equities analysts forecast that SolarEdge Technologies will post -8.85 earnings per share for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds have recently added to or reduced their stakes in the stock. Trillium Asset Management LLC raised its holdings in shares of SolarEdge Technologies by 1.6% during the first quarter. Trillium Asset Management LLC now owns 27,604 shares of the semiconductor company’s stock valued at $1,960,000 after purchasing an additional 427 shares during the last quarter. Yelin Lapidot Holdings Management Ltd. raised its stake in 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 acquiring an additional 564 shares during the period. Texas Permanent School Fund Corp lifted its stake in shares of 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 valued at $3,525,000 after buying an additional 585 shares in the last quarter. Swiss National Bank boosted its stake in shares of SolarEdge Technologies by 0.5% in the first quarter. Swiss National Bank now owns 112,100 shares of the semiconductor company’s stock worth $7,957,000 after acquiring an additional 600 shares during the period. Finally, Louisiana State Employees Retirement System grew its holdings in SolarEdge Technologies by 2.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the semiconductor company’s stock valued at $727,000 after buying an additional 700 shares in the last quarter. 95.10% of the stock is owned by institutional investors.

SolarEdge Technologies Company Profile

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.