share_log

Barclays Lowers SolarEdge Technologies (NASDAQ:SEDG) Price Target to $392.00

Defense World ·  Feb 3, 2023 05:32

SolarEdge Technologies (NASDAQ:SEDG – Get Rating) had its price target cut by analysts at Barclays from $396.00 to $392.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm presently has an "overweight" rating on the semiconductor company's stock. Barclays's price target indicates a potential upside of 19.65% from the company's current price.

Other equities research analysts have also recently issued reports about the stock. Truist Financial dropped their target price on shares of SolarEdge Technologies from $385.00 to $320.00 and set a "buy" rating for the company in a research report on Tuesday, October 18th. Cowen lifted their target price on shares of SolarEdge Technologies from $309.00 to $360.00 and gave the stock an "outperform" rating in a report on Monday, December 5th. Northland Securities raised shares of SolarEdge Technologies from an "underperform" rating to a "market perform" rating in a report on Tuesday, November 8th. Wells Fargo & Company boosted their price objective on shares of SolarEdge Technologies from $306.00 to $367.00 and gave the company an "overweight" rating in a report on Friday, January 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of SolarEdge Technologies from $260.00 to $345.00 and gave the company a "hold" rating in a research report on Tuesday, January 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $347.24.

Get SolarEdge Technologies alerts:

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock opened at $327.61 on Wednesday. The firm's 50 day simple moving average is $304.67 and its 200 day simple moving average is $284.32. The company has a current ratio of 3.53, a quick ratio of 2.72 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $18.31 billion, a PE ratio of 161.39, a price-to-earnings-growth ratio of 1.35 and a beta of 1.32. SolarEdge Technologies has a 1-year low of $190.15 and a 1-year high of $375.90.

SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last issued its quarterly earnings results on Monday, November 7th. The semiconductor company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($0.86). SolarEdge Technologies had a return on equity of 5.75% and a net margin of 4.11%. The company had revenue of $836.72 million during the quarter, compared to the consensus estimate of $825.69 million. As a group, analysts expect that SolarEdge Technologies will post 2.96 earnings per share for the current fiscal year.

Insider Activity at SolarEdge Technologies

In related news, insider Meir Adest sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $315.96, for a total value of $1,579,800.00. Following the completion of the transaction, the insider now directly owns 140,485 shares of the company's stock, valued at approximately $44,387,640.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 12,500 shares of company stock valued at $3,682,425 in the last three months. 1.17% of the stock is owned by insiders.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors have recently bought and sold shares of SEDG. Steward Partners Investment Advisory LLC raised its position in SolarEdge Technologies by 79.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 95 shares of the semiconductor company's stock worth $26,000 after buying an additional 42 shares during the last quarter. AllSquare Wealth Management LLC purchased a new position in SolarEdge Technologies during the 2nd quarter worth approximately $27,000. Wipfli Financial Advisors LLC purchased a new position in SolarEdge Technologies during the 3rd quarter worth approximately $31,000. Clear Street Markets LLC raised its position in SolarEdge Technologies by 431.8% during the 2nd quarter. Clear Street Markets LLC now owns 117 shares of the semiconductor company's stock worth $32,000 after buying an additional 95 shares during the last quarter. Finally, IFP Advisors Inc raised its position in SolarEdge Technologies by 35.1% during the 3rd quarter. IFP Advisors Inc now owns 181 shares of the semiconductor company's stock worth $36,000 after buying an additional 47 shares during the last quarter. 80.01% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Company Profile

(Get Rating)

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.

Further Reading

  • Get a free copy of the StockNews.com research report on SolarEdge Technologies (SEDG)
  • Cathie Woods' Ark Innovation ETF Set To Rebound in 2023?
  • Mullen Automotive Stock Gains Momentum On Positive News
  • Harley-Davidson Inc. Stock, Is It Time To Buy?
  • The Bottom Is In For Meta Platforms, Volatility Is Not Over
  • Analyzing Alaska Air's Recent Earnings

Receive News & Ratings for SolarEdge Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SolarEdge Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment