SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $19.00 at Wells Fargo & Company

SolarEdge Technologies (NASDAQ:SEDG) had its target price hoisted by Wells Fargo & Company from $15.00 to $19.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the semiconductor company’s stock.

SEDG has been the subject of several other research reports. BMO Capital Markets dropped their price objective on shares of SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating for the company in a report on Thursday, November 7th. Citigroup cut their price objective on SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. TD Cowen lowered their target price on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. Jefferies Financial Group downgraded shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $27.00 to $17.00 in a research report on Tuesday, September 17th. Finally, Royal Bank of Canada lowered their price objective on shares of SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 15th. Seven analysts have rated the stock with a sell rating, nineteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, SolarEdge Technologies presently has an average rating of “Hold” and a consensus target price of $21.72.

SolarEdge Technologies Stock Up 8.0 %

SEDG opened at $17.59 on Tuesday. The business has a 50 day moving average of $14.13 and a 200-day moving average of $19.95. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -0.61 and a beta of 1.56. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $87.98.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The company had revenue of $260.90 million for the quarter, compared to analyst estimates of $272.80 million. During the same period in the prior year, the company posted ($1.03) EPS. The firm’s quarterly revenue was down 64.0% on a year-over-year basis. As a group, sell-side analysts anticipate that SolarEdge Technologies will post -19.18 earnings per share for the current year.

Insider Buying and Selling at SolarEdge Technologies

In related news, Chairman More Avery bought 156,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was purchased at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the completion of the acquisition, the chairman now owns 244,478 shares of the company’s stock, valued at $3,337,124.70. The trade was a 176.32 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds have recently added to or reduced their stakes in the business. KBC Group NV raised its stake in SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after buying an additional 1,378 shares during the last quarter. GAMMA Investing LLC grew its holdings in SolarEdge Technologies by 655.2% during the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 4,567 shares during the period. US Bancorp DE raised its position in shares of SolarEdge Technologies by 243.6% in the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock worth $156,000 after acquiring an additional 4,834 shares in the last quarter. GFG Capital LLC acquired a new position in shares of SolarEdge Technologies in the 3rd quarter valued at about $229,000. Finally, Magnetar Financial LLC acquired a new stake in SolarEdge Technologies during the second quarter worth approximately $286,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.