SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $61.00

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its price objective lifted by research analysts at Barclays from $50.00 to $61.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an "underweight" rating on the semiconductor company's stock. Barclays's price target indicates a potential upside of 2.49% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. Susquehanna decreased their price target on SolarEdge Technologies from $97.00 to $92.00 and set a "positive" rating on the stock in a research report on Friday, April 5th. Scotiabank decreased their price target on SolarEdge Technologies from $93.00 to $90.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 21st. Canaccord Genuity Group began coverage on SolarEdge Technologies in a research report on Tuesday, January 16th. They issued a "hold" rating and a $80.00 target price on the stock. Citigroup decreased their target price on SolarEdge Technologies from $89.00 to $83.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 21st. Finally, Mizuho decreased their target price on SolarEdge Technologies from $119.00 to $106.00 and set a "buy" rating on the stock in a research report on Thursday, February 22nd. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, SolarEdge Technologies currently has an average rating of "Hold" and a consensus target price of $100.28.

SolarEdge Technologies Stock Performance

Shares of SEDG traded down $0.92 during midday trading on Tuesday, reaching $59.52. 1,989,196 shares of the stock were exchanged, compared to its average volume of 2,411,882. SolarEdge Technologies has a twelve month low of $57.72 and a twelve month high of $322.19. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28. The company has a market cap of $3.40 billion, a P/E ratio of 132.27 and a beta of 1.51. The stock's 50 day simple moving average is $70.53 and its 200 day simple moving average is $80.58.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, topping analysts' consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The company had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. On average, sell-side analysts expect that SolarEdge Technologies will post -4.04 earnings per share for the current year.

Insider Buying and Selling

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of the company's stock in a transaction on Thursday, February 29th. The shares were purchased at an average cost of $67.75 per share, with a total value of $474,250.00. Following the completion of the purchase, the director now owns 77,446 shares in the company, valued at $5,246,966.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.17% of the stock is owned by insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Several institutional investors have recently added to or reduced their stakes in SEDG. Panagora Asset Management Inc. lifted its stake in SolarEdge Technologies by 28.3% in the first quarter. Panagora Asset Management Inc. now owns 2,254 shares of the semiconductor company's stock valued at $727,000 after buying an additional 497 shares during the period. Rhumbline Advisers increased its holdings in shares of SolarEdge Technologies by 2.7% during the first quarter. Rhumbline Advisers now owns 44,407 shares of the semiconductor company's stock valued at $14,315,000 after acquiring an additional 1,174 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of SolarEdge Technologies by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,027 shares of the semiconductor company's stock valued at $2,265,000 after acquiring an additional 435 shares in the last quarter. Cibc World Market Inc. increased its holdings in shares of SolarEdge Technologies by 28.5% during the first quarter. Cibc World Market Inc. now owns 4,844 shares of the semiconductor company's stock valued at $1,562,000 after acquiring an additional 1,073 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of SolarEdge Technologies by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 210,973 shares of the semiconductor company's stock valued at $68,007,000 after acquiring an additional 1,902 shares in the last quarter. 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.