SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $18.00

SolarEdge Technologies (NASDAQ:SEDG - Free Report) had its price objective lifted by Jefferies Financial Group from $10.00 to $18.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an underperform rating on the semiconductor company's stock.

Other equities analysts also recently issued reports about the company. Barclays raised SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $12.00 to $29.00 in a research report on Monday. UBS Group upped their target price on SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. The Goldman Sachs Group reissued 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, Susquehanna cut their price target on SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Eleven equities research analysts have rated the stock with a sell rating and eighteen have given a hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $17.61.

SolarEdge Technologies Stock Up 1.2%

Shares of SEDG stock traded up $0.30 during trading hours on Monday, reaching $25.26. 3,429,233 shares of the company's stock were exchanged, compared to its average volume of 4,692,016. The stock's 50 day moving average is $20.50 and its 200-day moving average is $16.76. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -0.84 and a beta of 1.62. The company has a current ratio of 2.04, a quick ratio of 1.39 and a debt-to-equity ratio of 0.62. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $31.07.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SEDG. Fifth Third Bancorp lifted 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 valued at $26,000 after buying an additional 790 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its stake in SolarEdge Technologies by 60.0% in the 1st 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 in the last quarter. Millstone Evans Group LLC purchased a new position in SolarEdge Technologies in the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp lifted its stake in SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 1,954 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in SolarEdge Technologies in the 1st quarter worth approximately $35,000. 95.10% of the stock is owned by hedge funds and other institutional investors.

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.