SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $25.00 by Analysts at The Goldman Sachs Group

SolarEdge Technologies (NASDAQ:SEDG) had its price objective decreased by The Goldman Sachs Group from $49.00 to $25.00 in a report issued on Thursday morning, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the semiconductor company’s stock.

A number of other equities research analysts also recently weighed in on SEDG. Janney Montgomery Scott downgraded SolarEdge Technologies from a buy rating to a neutral rating in a report on Friday, March 22nd. B. Riley reduced their price target on shares of SolarEdge Technologies from $133.00 to $124.00 and set a buy rating on the stock in a research report on Monday, April 22nd. Wells Fargo & Company lowered their price objective on shares of SolarEdge Technologies from $81.00 to $62.00 and set an equal weight rating for the company in a research report on Wednesday, May 15th. TD Cowen cut their target price on shares of SolarEdge Technologies from $85.00 to $80.00 and set a buy rating on the stock in a report on Thursday, May 9th. Finally, DZ Bank began coverage on SolarEdge Technologies in a research report on Wednesday, April 17th. They set a hold rating and a $62.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $76.35.

SolarEdge Technologies Stock Up 1.1 %

NASDAQ SEDG opened at $25.27 on Thursday. The company has a current ratio of 4.54, a quick ratio of 2.19 and a debt-to-equity ratio of 0.30. SolarEdge Technologies has a 12 month low of $24.44 and a 12 month high of $288.87. The company’s fifty day moving average price is $48.21 and its two-hundred day moving average price is $65.67.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) EPS for the quarter, missing the consensus estimate of ($2.07) by ($0.35). The company had revenue of $204.40 million for the quarter, compared to the consensus estimate of $194.82 million. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. Equities analysts anticipate that SolarEdge Technologies will post -6.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

A number of institutional investors and hedge funds have recently modified their holdings of SEDG. Swedbank AB acquired a new position in shares of SolarEdge Technologies in the first quarter worth about $261,312,000. Vanguard Group Inc. raised its stake in SolarEdge Technologies by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock valued at $327,566,000 after purchasing an additional 92,230 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in SolarEdge Technologies by 2.3% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,007,934 shares of the semiconductor company’s stock valued at $71,543,000 after buying an additional 23,033 shares during the period. Impax Asset Management Group plc lifted its stake in SolarEdge Technologies by 1.6% in the 4th quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company’s stock worth $88,890,000 after acquiring an additional 14,878 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in SolarEdge Technologies by 112.0% during the 4th quarter. Franklin Resources Inc. now owns 555,796 shares of the semiconductor company’s stock worth $52,023,000 after acquiring an additional 293,588 shares during the period. 95.10% of the stock is owned by institutional investors and hedge funds.

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.