SolarEdge Technologies (NASDAQ:SEDG) Given New $41.00 Price Target at Morgan Stanley

SolarEdge Technologies (NASDAQ:SEDG) had its price objective reduced by Morgan Stanley from $83.00 to $41.00 in a research report report published on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the semiconductor company’s stock.

A number of other analysts have also weighed in on the company. Mizuho lowered their target price on SolarEdge Technologies from $104.00 to $84.00 and set a buy rating for the company in a research note on Friday, May 10th. Canaccord Genuity Group decreased their price target on shares of SolarEdge Technologies from $58.00 to $38.00 and set a hold rating on the stock in a research note on Tuesday, June 25th. Scotiabank lowered their price target on shares of SolarEdge Technologies from $72.00 to $46.00 and set a sector perform rating for the company in a report on Tuesday, June 25th. TD Cowen reduced their price objective on SolarEdge Technologies from $85.00 to $80.00 and set a buy rating on the stock in a report on Thursday, May 9th. Finally, B. Riley lowered their target price on SolarEdge Technologies from $133.00 to $124.00 and set a buy rating for the company in a research note on Monday, April 22nd. Four research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $76.35.

SolarEdge Technologies Stock Down 0.0 %

SEDG opened at $25.26 on Wednesday. SolarEdge Technologies has a fifty-two week low of $24.44 and a fifty-two week high of $288.87. The company has a market capitalization of $1.45 billion, a P/E ratio of -5.43 and a beta of 1.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.54 and a quick ratio of 2.19. The firm’s fifty day moving average price is $47.60 and its two-hundred day moving average price is $65.21.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.07) by ($0.35). The company had revenue of $204.40 million for the quarter, compared to analyst estimates of $194.82 million. SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. On average, analysts anticipate that SolarEdge Technologies will post -6.49 EPS for the current year.

Institutional Inflows and Outflows

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

About SolarEdge Technologies

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.