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

SolarEdge Technologies (NASDAQ:SEDG) had its target price reduced by Morgan Stanley from $338.00 to $307.00 in a research report sent to investors on Thursday morning, Analyst Ratings Network reports. They currently have an equal weight rating on the semiconductor company’s stock.

Other equities research analysts have also issued reports about the company. Truist raised their price target on SolarEdge Technologies from $340.00 to $395.00 and gave the stock a buy rating in a research note on Thursday, November 4th. B. Riley lifted their target price on SolarEdge Technologies from $368.00 to $375.00 and gave the company a buy rating in a research report on Wednesday, November 3rd. BMO Capital Markets lifted their target price on SolarEdge Technologies from $357.00 to $390.00 and gave the company an outperform rating in a research report on Thursday, November 4th. Citigroup decreased their target price on SolarEdge Technologies from $435.00 to $385.00 and set a buy rating for the company in a research report on Tuesday, December 21st. Finally, UBS Group raised SolarEdge Technologies from a sell rating to a neutral rating and lifted their target price for the company from $250.00 to $280.00 in a research report on Monday, January 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, SolarEdge Technologies has a consensus rating of Buy and an average price target of $355.08.

Shares of SEDG stock opened at $253.83 on Thursday. SolarEdge Technologies has a 52-week low of $199.33 and a 52-week high of $389.71. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.08 and a current ratio of 3.83. The firm has a market capitalization of $13.33 billion, a P/E ratio of 95.43, a P/E/G ratio of 2.49 and a beta of 1.02. The stock has a 50 day moving average price of $307.93 and a 200 day moving average price of $291.50.

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

In other SolarEdge Technologies news, Director Doron Inbar sold 3,000 shares of SolarEdge Technologies stock in a transaction that occurred on Thursday, November 11th. The shares were sold at an average price of $352.00, for a total value of $1,056,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Yoav Galin sold 7,700 shares of the business’s stock in a transaction on Thursday, October 28th. The shares were sold at an average price of $351.14, for a total transaction of $2,703,778.00. The disclosure for this sale can be found here. Insiders sold a total of 55,305 shares of company stock worth $18,474,212 in the last ninety days. 1.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of SEDG. Franklin Resources Inc. raised its stake in shares of SolarEdge Technologies by 19.5% in the 2nd quarter. Franklin Resources Inc. now owns 194,995 shares of the semiconductor company’s stock valued at $53,890,000 after purchasing an additional 31,754 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in SolarEdge Technologies by 461.8% during the second quarter. Cubist Systematic Strategies LLC now owns 9,679 shares of the semiconductor company’s stock worth $2,675,000 after acquiring an additional 7,956 shares during the period. Sphera Funds Management LTD. acquired a new stake in SolarEdge Technologies during the second quarter worth about $8,899,000. Cresset Asset Management LLC raised its stake in SolarEdge Technologies by 90.9% during the second quarter. Cresset Asset Management LLC now owns 2,384 shares of the semiconductor company’s stock worth $659,000 after acquiring an additional 1,135 shares during the period. Finally, Tributary Capital Management LLC raised its stake in SolarEdge Technologies by 194.1% during the third quarter. Tributary Capital Management LLC now owns 6,970 shares of the semiconductor company’s stock worth $1,849,000 after acquiring an additional 4,600 shares during the period. Hedge funds and other institutional investors own 73.41% of the company’s stock.

About SolarEdge Technologies

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.

Recommended Story: How to Trade Using Analysts Ratings

Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

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.