SolarEdge Technologies (NASDAQ:SEDG) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

SolarEdge Technologies (NASDAQ:SEDG) had its price target trimmed by JPMorgan Chase & Co. from $44.00 to $38.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

Several other equities analysts have also commented on SEDG. Royal Bank Of Canada upped their price target on shares of SolarEdge Technologies from $24.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Friday, September 11th. Wells Fargo & Company started coverage on shares of SolarEdge Technologies in a report on Monday, June 29th. They issued an “equal weight” rating and a $36.00 price objective on the stock. Susquehanna cut their price objective on shares of SolarEdge Technologies from $38.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Citigroup boosted their target price on shares of SolarEdge Technologies from $25.00 to $30.00 and gave the company a “sell” rating in a research note on Monday, September 21st. Finally, Weiss Ratings raised shares of SolarEdge Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. Two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $38.53.

SolarEdge Technologies Trading Up 2.6%

NASDAQ:SEDG opened at $33.19 on Monday. SolarEdge Technologies has a 12-month low of $28.21 and a 12-month high of $81.25. The firm has a market capitalization of $2.04 billion, a P/E ratio of -7.38 and a beta of 1.44. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.03 and a quick ratio of 1.38. The business has a 50 day simple moving average of $32.92 and a 200 day simple moving average of $44.43.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. SolarEdge Technologies had a negative return on equity of 29.17% and a negative net margin of 20.29%. The firm had revenue of $346.20 million during the quarter, compared to the consensus estimate of $341.15 million. During the same period in the prior year, the business earned ($0.81) EPS. The firm’s revenue was up 19.6% on a year-over-year basis. Equities research analysts predict that SolarEdge Technologies will post -1.20 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Legal & General Group Plc bought a new stake in shares of SolarEdge Technologies during the second quarter valued at about $76,095,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in SolarEdge Technologies in the second quarter worth about $55,514,000. Meitav Investment House Ltd. grew its position in SolarEdge Technologies by 541.6% in the 1st quarter. Meitav Investment House Ltd. now owns 1,017,551 shares of the semiconductor company’s stock valued at $51,946,000 after buying an additional 858,954 shares in the last quarter. Bank of America Corp DE grew its position in SolarEdge Technologies by 218.6% in the 1st quarter. Bank of America Corp DE now owns 404,297 shares of the semiconductor company’s stock valued at $20,639,000 after buying an additional 277,385 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in SolarEdge Technologies by 303.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 314,066 shares of the semiconductor company’s stock valued at $16,031,000 after buying an additional 236,176 shares in the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

About SolarEdge Technologies

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for solar energy generation, storage and management. Its core products include power optimizers, solar inverters and monitoring systems designed to improve the performance, visibility and safety of photovoltaic installations.

The company also offers complementary smart-energy solutions, including battery storage, electric-vehicle charging equipment, energy-management software and related products for residential, commercial and industrial customers.