Analyst Update: Solaredge Technologies Inc, Advanced Micro Devices, Inc., and Pandora Media Inc

Analysts are weighing in on Solaredge Technologies Inc (NASDAQ:SEDG), Advanced Micro Devices, Inc. (NASDAQ:AMD), and Pandora Media Inc (NYSE:P)

Sep 14, 2016 at 3:19 PM
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Analysts are weighing in on green energy stock Solaredge Technologies Inc (NASDAQ:SEDG), Apple Inc. (NASDAQ:AAPL) supplier Advanced Micro Devices, Inc. (NASDAQ:AMD), and music streaming service Pandora Media Inc (NYSE:P). Here's a quick roundup of today's brokerage notes on SEDG, AMD, and P.

  • SEDG is down 7.7% at $15.58, after Needham cut its price target on the stock to $25 from $28, citing slowing installation growth. Solaredge Technologies Inc has now shed 45% since the beginning of the year, with the shares repeatedly running into resistance at SEDG's 40-day moving average since the stock's bear gap in early May. In the option pits, put buying has been popular amid relatively low absolute volume, with SEDG's 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) of 39.80 sitting at an annual peak. 

  • AMD is up 5.4% at $6.05, following a price-target hike to $5 from $4 by Deutsche Bank. The chipmaker has more than doubled since the beginning of the year, and despite pulling back after hitting a four-year high of $8.00 in late August amid sector headwinds, AMD found a firm foothold atop its rising 80-day moving average. Option players, however, have been bracing for more downside. Advanced Micro Devices, Inc.'s 10-day put/call volume ratio of 0.85 at the ISE, CBOE, and PHLX ranks in the elevated 90th percentile of its annual range.

  • is continuing yesterday's slide, currently sitting down 5.5% at $13.32, as the the hype surrounding its new streaming service subsides. Even price-target hikes from Canaccord Genuity (to $18) and BMO (to $13) are not helping to boost the stock. Pandora Media Inc shares have lost over a quarter of their value year-over-year, and this most recent slide has the stock on pace to close south of its 40-day moving average for the first time since late July. There's likely some short sellers celebrating this downturn, though, with 26.1% of P's float sold short. 
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