SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $307.00 at Morgan Stanley

SolarEdge Technologies (NASDAQ:SEDG) had its price target decreased by Morgan Stanley from $338.00 to $307.00 in a research note released on Thursday morning, PriceTargets.com reports. Morgan Stanley currently has an equal weight rating on the semiconductor company’s stock.

SEDG has been the subject of a number of other reports. The Goldman Sachs Group raised their price objective on shares of SolarEdge Technologies from $420.00 to $448.00 and gave the stock a buy rating in a report on Monday, January 10th. Guggenheim raised shares of SolarEdge Technologies from a neutral rating to a buy rating and set a $329.00 price objective for the company in a report on Thursday. B. Riley raised their price objective on shares of SolarEdge Technologies from $368.00 to $375.00 and gave the stock a buy rating in a report on Wednesday, November 3rd. raised their price objective on shares of SolarEdge Technologies from $280.00 to $345.00 and gave the stock a hold rating in a report on Monday, November 8th. Finally, Barclays raised their price objective on shares of SolarEdge Technologies from $367.00 to $389.00 and gave the stock an overweight rating in a report on Wednesday, November 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $355.08.

NASDAQ SEDG opened at $253.83 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.83 and a quick ratio of 3.08. The firm has a market capitalization of $13.33 billion, a price-to-earnings ratio of 95.43, a P/E/G ratio of 2.49 and a beta of 1.02. The company’s fifty day moving average is $307.93 and its two-hundred day moving average is $291.50. SolarEdge Technologies has a 52-week low of $199.33 and a 52-week high of $389.71.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Tuesday, November 2nd. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). The company had revenue of $526.40 million during the quarter, compared to analyst estimates of $529.73 million. SolarEdge Technologies had a return on equity of 12.86% and a net margin of 8.24%. During the same quarter in the prior year, the business earned $0.83 earnings per share. As a group, sell-side analysts expect that SolarEdge Technologies will post 3.46 earnings per share for the current fiscal year.

In related news, Director Tal Payne sold 25,712 shares of the business’s stock in a transaction that occurred on Wednesday, October 27th. The shares were sold at an average price of $345.06, for a total transaction of $8,872,182.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Doron Inbar sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 11th. The shares were sold at an average price of $352.00, for a total transaction of $1,056,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,305 shares of company stock valued at $18,474,212. 1.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. BerganKDV Wealth Management LLC bought a new position in SolarEdge Technologies in the second quarter valued at approximately $28,000. Dupont Capital Management Corp bought a new position in SolarEdge Technologies in the third quarter valued at approximately $45,000. O Shaughnessy Asset Management LLC lifted its stake in SolarEdge Technologies by 50.3% in the second quarter. O Shaughnessy Asset Management LLC now owns 293 shares of the semiconductor company’s stock valued at $81,000 after buying an additional 98 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in SolarEdge Technologies in the third quarter valued at approximately $80,000. Finally, Koshinski Asset Management Inc. bought a new position in SolarEdge Technologies in the third quarter valued at approximately $88,000. 73.41% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc engages in the development of energy technology, which provides inverter solutions. The firm operates through the following segments: Solar and All Other. The Solar segment includes the design, development, manufacturing, and sales of an inverter solution designed to maximize power generation.

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Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

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