Mizuho Trims SolarEdge Technologies (NASDAQ:SEDG) Target Price to $35.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price lowered by Mizuho from $40.00 to $35.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

Other equities analysts also recently issued research reports about the company. Roth Mkm decreased their target price on SolarEdge Technologies from $27.00 to $23.00 and set a neutral rating for the company in a report on Thursday, August 8th. Truist Financial restated a hold rating and set a $20.00 target price on shares of SolarEdge Technologies in a report on Tuesday, August 27th. The Goldman Sachs Group decreased their price objective on SolarEdge Technologies from $25.00 to $19.00 and set a sell rating for the company in a report on Friday, August 9th. Royal Bank of Canada decreased their price objective on SolarEdge Technologies from $37.00 to $35.00 and set a sector perform rating for the company in a report on Thursday, August 8th. Finally, Piper Sandler decreased their price objective on SolarEdge Technologies from $29.00 to $25.00 and set a neutral rating for the company in a report on Thursday, August 8th. Five investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $49.35.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG opened at $20.37 on Thursday. The firm has a market cap of $1.17 billion, a PE ratio of -4.38 and a beta of 1.56. SolarEdge Technologies has a fifty-two week low of $17.12 and a fifty-two week high of $139.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. The business has a 50 day moving average price of $24.14 and a 200-day moving average price of $42.37.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). The business had revenue of $265.41 million for the quarter, compared to the consensus estimate of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. SolarEdge Technologies’s revenue was down 73.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.06 EPS. Equities research analysts predict that SolarEdge Technologies will post -8.67 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SEDG. International Assets Investment Management LLC purchased a new position in SolarEdge Technologies in the second quarter worth about $28,000. GAMMA Investing LLC boosted its position in SolarEdge Technologies by 90.0% in the first quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 289 shares during the last quarter. Versant Capital Management Inc boosted its position in SolarEdge Technologies by 1,066.7% in the first quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 640 shares during the last quarter. EntryPoint Capital LLC purchased a new position in SolarEdge Technologies in the first quarter worth about $64,000. Finally, Hexagon Capital Partners LLC raised its stake in shares of SolarEdge Technologies by 120.8% in the first quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock worth $79,000 after buying an additional 610 shares during the period. 95.10% of the stock is owned by hedge funds and other 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.