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

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) has been given a consensus rating of "Reduce" by the twenty-eight research firms that are presently covering the stock, MarketBeat.com reports. Ten investment analysts have rated the stock with a sell recommendation and eighteen have issued a hold recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $17.92.

Several analysts have issued reports on the company. Morgan Stanley reissued an "underweight" rating and issued a $10.00 price target on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Susquehanna lifted their price target on SolarEdge Technologies from $14.00 to $26.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $27.00 target price on shares of SolarEdge Technologies in a research report on Wednesday, July 9th. KeyCorp raised SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, July 8th. Finally, Barclays raised SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $12.00 to $29.00 in a research report on Monday, July 14th.

SolarEdge Technologies Trading Up 3.4%

Shares of NASDAQ SEDG traded up $0.86 during midday trading on Friday, hitting $25.81. The stock had a trading volume of 7,272,428 shares, compared to its average volume of 4,896,063. The company's 50-day simple moving average is $22.05 and its 200 day simple moving average is $17.63. The firm has a market cap of $1.52 billion, a P/E ratio of -0.86 and a beta of 1.62. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $32.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.04 and a quick ratio of 1.39.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SEDG. Fifth Third Bancorp raised its position in SolarEdge Technologies by 93.7% during the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 790 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in shares of SolarEdge Technologies by 60.0% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company's stock worth $26,000 after buying an additional 600 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of SolarEdge Technologies during the first quarter worth $35,000. Public Employees Retirement System of Ohio increased its holdings in shares of SolarEdge Technologies by 21.5% during the second quarter. Public Employees Retirement System of Ohio now owns 2,868 shares of the semiconductor company's stock worth $59,000 after buying an additional 508 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of SolarEdge Technologies by 25.2% during the first quarter. US Bancorp DE now owns 4,560 shares of the semiconductor company's stock worth $74,000 after buying an additional 918 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.