Brokerages Set SolarEdge Technologies, Inc. (NASDAQ:SEDG) Target Price at $17.92

Key Points

• SolarEdge Technologies, Inc. has received a consensus recommendation of "Reduce" from analysts, with ten rated as sell and eighteen as hold.
• The average twelve-month price target among brokerages for SolarEdge stock is $17.92, with notable targets including a $10.00 rating from Morgan Stanley and a $20.00 rating from UBS Group.
• SolarEdge posted a quarterly earnings report with earnings per share of ($1.14), surpassing estimates and showing a 7.4% increase in revenue year-over-year.

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) have been assigned a consensus rating of "Reduce" from the twenty-eight ratings firms that are covering the firm, Marketbeat reports. Ten equities research analysts have rated the stock with a sell rating and eighteen have assigned a hold rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $17.92.

Several research analysts have weighed in on the stock. Susquehanna upped their price objective on shares of SolarEdge Technologies from $14.00 to $26.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Morgan Stanley reaffirmed an "underweight" rating and issued a $10.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Northland Securities raised SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 price objective for the company in a report on Friday, May 23rd. KeyCorp upgraded SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a report on Tuesday, July 8th. Finally, UBS Group upped their price target on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp increased its stake in SolarEdge Technologies by 93.7% in the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock worth $26,000 after acquiring an additional 790 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its position in shares of SolarEdge Technologies by 60.0% in the first 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 last quarter. Banque Cantonale Vaudoise purchased a new stake in SolarEdge Technologies in the first quarter valued at approximately $35,000. Public Employees Retirement System of Ohio raised 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 valued at $59,000 after purchasing an additional 508 shares in the last quarter. Finally, US Bancorp DE lifted its position in SolarEdge Technologies by 25.2% during the first quarter. US Bancorp DE now owns 4,560 shares of the semiconductor company's stock valued at $74,000 after purchasing an additional 918 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Stock Down 0.6%

SEDG traded down $0.17 during midday trading on Friday, hitting $27.06. The company had a trading volume of 2,759,642 shares, compared to its average volume of 4,873,407. The stock's 50 day moving average price is $21.72 and its 200 day moving average price is $17.43. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $32.45. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -0.90 and a beta of 1.62. The company has a quick ratio of 1.39, a current ratio of 2.04 and a debt-to-equity ratio of 0.62.

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