Published On: Wed, Sep 14th, 2016

SolarEdge Technologies Inc. (SEDG) PT Lowered to $25.00

SolarEdge Technologies Inc. (NASDAQ:SEDG) had its target price lowered by equities research analysts at Needham & Company LLC from $28.00 to $25.00 in a research note issued on Wednesday. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 48.02% from the stock’s previous close.
Other research analysts have also recently issued research reports about the stock. FBR & Co restated a “buy” rating and set a $38.00 price target on shares of SolarEdge Technologies in a research note on Thursday, June 16th. JPMorgan Chase & Co. set a $31.00 target price on shares of SolarEdge Technologies and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Barclays PLC cut shares of SolarEdge Technologies to a “buy” rating in a research note on Monday, June 20th. Canaccord Genuity reiterated a “buy” rating and issued a $27.00 target price on shares of SolarEdge Technologies in a research note on Tuesday, August 16th. Finally, Deutsche Bank AG cut their target price on shares of SolarEdge Technologies from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $26.27.
Shares of SolarEdge Technologies (NASDAQ:SEDG) opened at 16.89 on Wednesday. The stock’s 50 day moving average price is $17.53 and its 200 day moving average price is $21.48. SolarEdge Technologies has a 1-year low of $15.02 and a 1-year high of $30.50. The company has a market capitalization of $690.77 million, a price-to-earnings ratio of 9.76 and a beta of -0.44.

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SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The firm earned $124.80 million during the quarter, compared to analysts’ expectations of $129.63 million. SolarEdge Technologies had a net margin of 15.64% and a return on equity of 31.51%. The company’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 earnings per share. Analysts expect that SolarEdge Technologies will post $1.94 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in SEDG. Point72 Asset Management L.P. acquired a new stake in SolarEdge Technologies during the second quarter worth approximately $26,421,000. Sylebra HK Co Ltd raised its stake in SolarEdge Technologies by 41.2% in the second quarter. Sylebra HK Co Ltd now owns 1,208,429 shares of the company’s stock worth $23,685,000 after buying an additional 352,561 shares in the last quarter. Neuberger Berman Group LLC raised its stake in SolarEdge Technologies by 13.5% in the second quarter. Neuberger Berman Group LLC now owns 1,055,285 shares of the company’s stock worth $20,684,000 after buying an additional 125,152 shares in the last quarter. Prince Street Capital Management LLC raised its stake in SolarEdge Technologies by 41.2% in the second quarter. Prince Street Capital Management LLC now owns 857,700 shares of the company’s stock worth $16,811,000 after buying an additional 250,300 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its stake in SolarEdge Technologies by 215.6% in the second quarter. Lord Abbett & CO. LLC now owns 771,873 shares of the company’s stock worth $15,129,000 after buying an additional 527,289 shares in the last quarter. 60.46% of the stock is owned by hedge funds and other institutional investors.
About SolarEdge Technologies
Solaredge Technologies Inc (SolarEdge) is a provider of solar power harvesting and photovoltaic (PV) monitoring solutions. The Company’s portfolio of products includes power optimizers, PV inverters and a Web portal for module-level monitoring and fault detection. Its SolarEdge power optimizer is a DC/DC converter which is connected by installers to each PV module or embedded by module manufacturers, replacing the solar junction box.

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