SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives Average Rating of "Reduce" from Analysts

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) has been given a consensus rating of "Reduce" by the twenty-seven analysts that are presently covering the company, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $16.12.

Several research firms have recently commented on SEDG. JPMorgan Chase & Co. lowered their price target on SolarEdge Technologies from $20.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. KeyCorp restated an "underweight" rating and set a $16.00 target price on shares of SolarEdge Technologies in a report on Tuesday, June 17th. Susquehanna dropped their target price on SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Morgan Stanley reissued an "underweight" rating and issued a $10.00 price objective on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Finally, UBS Group upped their target price on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th.

Hedge Funds Weigh In On SolarEdge Technologies

Several hedge funds have recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. boosted its holdings 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 valued at $26,000 after acquiring an additional 600 shares during the period. Deutsche Bank AG boosted 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 worth $2,407,000 after purchasing an additional 766 shares during the period. Fifth Third Bancorp grew its position in SolarEdge Technologies by 93.7% during the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 790 shares during the last quarter. US Bancorp DE grew its position in SolarEdge Technologies by 25.2% during the 1st quarter. US Bancorp DE now owns 4,560 shares of the semiconductor company's stock worth $74,000 after purchasing an additional 918 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in SolarEdge Technologies by 1.5% in the first quarter. New York State Teachers Retirement System now owns 66,436 shares of the semiconductor company's stock valued at $1,075,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Trading Up 8.0%

SEDG stock traded up $1.74 during trading on Wednesday, reaching $23.60. 5,796,401 shares of the stock were exchanged, compared to its average volume of 4,831,303. The company has a current ratio of 2.04, a quick ratio of 1.39 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -0.78 and a beta of 1.61. The business has a 50 day moving average price of $17.52 and a 200-day moving average price of $15.84. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $32.11.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, topping 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 analyst estimates of $205.39 million. During the same period in the prior year, the business posted ($1.90) earnings per share. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. On average, research analysts predict that SolarEdge Technologies will post -4.54 earnings per share for the current 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.