SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives $85.19 Consensus Price Target from Analysts

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have been assigned a consensus recommendation of “Hold” from the thirty-one analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, twenty-four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $85.19.

Several brokerages have recently issued reports on SEDG. Wells Fargo & Company lowered their price objective on shares of SolarEdge Technologies from $81.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $71.00 target price on shares of SolarEdge Technologies in a research note on Friday, June 7th. Mizuho lowered their price target on SolarEdge Technologies from $104.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Bank of America reduced their price objective on SolarEdge Technologies from $54.00 to $44.00 and set an “underperform” rating for the company in a research report on Friday, May 10th. Finally, Susquehanna cut SolarEdge Technologies from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $92.00 to $56.00 in a research report on Monday, May 13th.

Institutional Trading of SolarEdge Technologies

A number of hedge funds have recently modified their holdings of the business. Rhumbline Advisers raised its stake in shares of SolarEdge Technologies by 1.4% in the third quarter. Rhumbline Advisers now owns 65,499 shares of the semiconductor company’s stock worth $8,483,000 after purchasing an additional 892 shares during the last quarter. Aigen Investment Management LP bought a new position in SolarEdge Technologies during the 3rd quarter valued at about $362,000. V Square Quantitative Management LLC boosted its holdings in shares of SolarEdge Technologies by 1,309.1% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,395 shares of the semiconductor company’s stock valued at $181,000 after acquiring an additional 1,296 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of SolarEdge Technologies by 39.1% during the third quarter. Hsbc Holdings PLC now owns 132,424 shares of the semiconductor company’s stock valued at $17,134,000 after purchasing an additional 37,233 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in SolarEdge Technologies by 37.3% during the third quarter. Clearbridge Investments LLC now owns 561,160 shares of the semiconductor company’s stock valued at $72,676,000 after purchasing an additional 152,420 shares during the period. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $33.25 on Friday. 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 business’s fifty day moving average price is $50.21 and its 200 day moving average price is $66.61. SolarEdge Technologies has a 12-month low of $31.95 and a 12-month high of $288.87. The stock has a market capitalization of $1.91 billion, a PE ratio of -7.15 and a beta of 1.62.

SolarEdge Technologies (NASDAQ:SEDG) last announced 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 firm had revenue of $204.40 million during 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%. Equities research analysts forecast that SolarEdge Technologies will post -6.08 EPS for the current year.

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.