Barclays Upgrades SolarEdge Technologies (NASDAQ:SEDG) to Equal Weight

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) was upgraded by stock analysts at Barclays from an "underweight" rating to an "equal weight" rating in a note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has a $29.00 target price on the semiconductor company's stock, up from their previous target price of $12.00. Barclays's target price points to a potential upside of 8.53% from the stock's current price.

A number of other research analysts have also recently commented on the stock. Northland Securities upgraded shares of SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 price target on the stock in a report on Friday, May 23rd. Morgan Stanley restated an "underweight" rating and issued a $10.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on shares of SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. KeyCorp raised SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. decreased their target price on SolarEdge Technologies from $20.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Ten analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, SolarEdge Technologies presently has an average rating of "Hold" and an average target price of $17.44.

SolarEdge Technologies Price Performance

NASDAQ SEDG traded up $1.10 on Monday, reaching $26.72. The company had a trading volume of 3,741,148 shares, compared to its average volume of 4,857,848. The stock has a market capitalization of $1.58 billion, a PE ratio of -0.89 and a beta of 1.62. SolarEdge Technologies has a 12 month low of $10.24 and a 12 month high of $31.07. The company has a quick ratio of 1.39, a current ratio of 2.04 and a debt-to-equity ratio of 0.62. The firm's 50 day moving average price is $19.76 and its 200 day moving average price is $16.54.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, beating analysts' consensus estimates of ($1.26) by $0.12. SolarEdge Technologies had a negative net margin of 182.81% and a negative return on equity of 127.53%. The firm had revenue of $219.48 million during the quarter, compared to analyst estimates of $205.39 million. During the same period last year, the firm posted ($1.90) earnings per share. SolarEdge Technologies's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities analysts predict that SolarEdge Technologies will post -4.54 earnings per share for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

Hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp raised its holdings in shares of SolarEdge Technologies by 93.7% during the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 790 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its position in SolarEdge Technologies by 60.0% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 600 shares during the period. Millstone Evans Group LLC acquired a new stake in SolarEdge Technologies during the 4th quarter worth about $27,000. Jones Financial Companies Lllp raised its stake in shares of SolarEdge Technologies by 401.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock valued at $33,000 after buying an additional 1,954 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of SolarEdge Technologies in the 1st quarter valued at about $35,000. 95.10% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Company Profile

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.