SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $25.00 at Roth Capital

Key Points

• Roth Capital has raised its price target for SolarEdge Technologies from $15.00 to $25.00, maintaining a "neutral" rating on the stock.
• SolarEdge shares recently traded up 3.1% to $26.42, with a current market cap of $1.56 billion.
• Analysts have varying opinions on SolarEdge, with 11 firms rating it as a "sell" and 19 firms issuing a "hold" rating, reflecting cautious sentiment in the market.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its price target raised by stock analysts at Roth Capital from $15.00 to $25.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the semiconductor company's stock. Roth Capital's target price would indicate a potential upside of 2.06% from the stock's current price.

SEDG has been the subject of a number of other reports. Guggenheim reiterated a "sell" rating and set a $5.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. BNP Paribas Exane downgraded shares of SolarEdge Technologies from a "neutral" rating to an "underperform" rating and set a $17.00 target price on the stock. in a report on Wednesday, July 16th. Barclays raised SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $12.00 to $29.00 in a report on Monday, July 14th. Finally, Morgan Stanley restated an "underweight" rating and set a $10.00 price objective on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Eleven investment analysts have rated the stock with a sell rating and nineteen have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $18.19.

SolarEdge Technologies Stock Down 5.0%

SEDG stock traded down $1.29 on Tuesday, reaching $24.50. 6,745,654 shares of the company traded hands, compared to its average volume of 4,847,102. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.04 and a quick ratio of 1.39. The firm has a fifty day simple moving average of $22.97 and a 200-day simple moving average of $18.02. SolarEdge Technologies has a one year low of $10.24 and a one year high of $32.45. The company has a market cap of $1.45 billion, a P/E ratio of -0.82 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, topping 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 company had revenue of $219.48 million during the quarter, compared to analyst estimates of $205.39 million. During the same period in the previous year, the business earned ($1.90) EPS. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. Research analysts anticipate that SolarEdge Technologies will post -4.54 earnings per share for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEDG. Resona Asset Management Co. Ltd. increased its holdings in SolarEdge Technologies by 6.7% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 6,472 shares of the semiconductor company's stock valued at $128,000 after acquiring an additional 404 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in shares of SolarEdge Technologies by 2.9% during the second quarter. Maryland State Retirement & Pension System now owns 17,352 shares of the semiconductor company's stock valued at $354,000 after acquiring an additional 486 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in SolarEdge Technologies by 21.5% in the second quarter. Public Employees Retirement System of Ohio now owns 2,868 shares of the semiconductor company's stock worth $59,000 after purchasing an additional 508 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its position in shares of 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 valued at $26,000 after buying an additional 600 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of SolarEdge Technologies by 0.5% in the 1st quarter. Deutsche Bank AG now owns 148,734 shares of the semiconductor company's stock worth $2,407,000 after acquiring an additional 766 shares during the period. Hedge funds and other institutional investors own 95.10% of the company's stock.

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.