SolarEdge Technologies (NASDAQ:SEDG) Given New $12.00 Price Target at BMO Capital Markets

by · The Markets Daily

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

Several other equities research analysts have also recently issued reports on the stock. Roth Mkm lowered their price objective on shares of SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday. Morgan Stanley dropped their price objective on SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Royal Bank of Canada decreased their target price on 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. TD Cowen dropped their price target on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their price objective on SolarEdge Technologies from $35.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $23.79.

Get Our Latest Report on SolarEdge Technologies

SolarEdge Technologies Trading Down 9.1 %

Shares of SEDG traded down $1.35 during mid-day trading on Thursday, reaching $13.53. 7,872,062 shares of the company’s stock traded hands, 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. The stock’s 50-day moving average is $19.34 and its two-hundred day moving average is $31.18. SolarEdge Technologies has a 12 month low of $12.38 and a 12 month high of $103.15. The stock has a market cap of $775.27 million, a P/E ratio of -0.46 and a beta of 1.59.

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

Institutional Investors Weigh In On SolarEdge Technologies

A number of large investors have recently modified their holdings of SEDG. International Assets Investment Management LLC purchased a new position in shares of SolarEdge Technologies in the 2nd quarter valued at approximately $28,000. EntryPoint Capital LLC acquired a new stake in shares of SolarEdge Technologies during the first quarter worth $64,000. KBC Group NV lifted its stake in shares of 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 period. First Pacific Financial increased its position in shares of SolarEdge Technologies by 53.0% in the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock valued at $132,000 after acquiring an additional 1,805 shares during the period. Finally, US Bancorp DE raised its stake in 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 during the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Company Profile

(Get Free Report)

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.

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