Analysts Set SolarEdge Technologies, Inc. (NASDAQ:SEDG) PT at $16.32

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) has been given an average recommendation of "Reduce" by the twenty-seven analysts that are presently covering the stock, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $16.32.

SEDG has been the topic of a number of recent analyst reports. Barclays boosted their target price on shares of SolarEdge Technologies from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Wednesday, April 16th. Royal Bank of Canada boosted their target price on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the company a "sector perform" rating in a research report on Thursday, February 20th. Northland Securities raised SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $12.50 price target for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. lowered their target price on SolarEdge Technologies from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Finally, Roth Mkm boosted their target price on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Friday, February 21st.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery acquired 30,000 shares of SolarEdge Technologies stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the acquisition, the chairman now directly owns 274,478 shares of the company's stock, valued at $3,760,348.60. This represents a 12.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.67% of the company's stock.

Hedge Funds Weigh In On SolarEdge Technologies

Several large investors have recently bought and sold shares of the stock. Deutsche Bank AG lifted its stake in SolarEdge Technologies by 0.5% during the 1st quarter. Deutsche Bank AG now owns 148,734 shares of the semiconductor company's stock valued at $2,407,000 after acquiring an additional 766 shares in the last quarter. Fifth Third Bancorp lifted its stake in SolarEdge Technologies by 93.7% during the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 790 shares in the last quarter. US Bancorp DE lifted its stake in SolarEdge Technologies by 25.2% during the 1st quarter. US Bancorp DE now owns 4,560 shares of the semiconductor company's stock valued at $74,000 after acquiring an additional 918 shares in the last quarter. New York State Teachers Retirement System lifted its stake in SolarEdge Technologies by 1.5% during the 1st quarter. New York State Teachers Retirement System now owns 66,436 shares of the semiconductor company's stock valued at $1,075,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in SolarEdge Technologies by 17.5% during the 1st quarter. Hsbc Holdings PLC now owns 12,312 shares of the semiconductor company's stock valued at $192,000 after acquiring an additional 1,836 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Trading Up 16.2%

Shares of NASDAQ SEDG traded up $2.91 during mid-day trading on Tuesday, hitting $20.84. The company's stock had a trading volume of 7,476,813 shares, compared to its average volume of 4,435,817. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -0.67 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. SolarEdge Technologies has a one year low of $10.24 and a one year high of $53.58. The company's fifty day simple moving average is $14.86 and its 200-day simple moving average is $14.72.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.26) by $0.12. SolarEdge Technologies had a negative net margin of 192.13% and a negative return on equity of 95.05%. The firm had revenue of $219.48 million for the quarter, compared to the consensus estimate of $205.39 million. During the same period last year, the company posted ($1.90) EPS. The business's quarterly revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts anticipate that SolarEdge Technologies will post -4.54 earnings per share for the current fiscal year.

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.