SolarEdge Technologies (NASDAQ:SEDG) Given New $18.00 Price Target at Jefferies Financial Group

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its price target upped by equities researchers at Jefferies Financial Group from $10.00 to $18.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "underperform" rating on the semiconductor company's stock. Jefferies Financial Group's price objective suggests a potential downside of 31.07% from the company's previous close.

A number of other analysts have also recently issued reports on SEDG. Canaccord Genuity Group lifted their target price on shares of SolarEdge Technologies from $14.00 to $16.50 and gave the company a "hold" rating in a research note on Wednesday, May 7th. Northland Capmk raised SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a research note on Friday, May 23rd. Susquehanna cut their price target on SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Morgan Stanley restated an "underweight" rating and issued a $10.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Finally, KeyCorp upgraded SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, July 8th. Ten investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $17.44.

SolarEdge Technologies Trading Up 1.9%

SolarEdge Technologies stock traded up $0.50 during trading on Monday, hitting $26.12. The company had a trading volume of 2,315,772 shares, compared to its average volume of 4,711,503. The company's 50 day simple moving average is $19.76 and its 200-day simple moving average is $16.54. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -0.87 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 1-year low of $10.24 and a 1-year high of $31.07.

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

Institutional Trading of SolarEdge Technologies

Several hedge funds have recently bought and sold shares of SEDG. Edmond DE Rothschild Holding S.A. grew its stake in shares of SolarEdge Technologies by 60.0% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 600 shares during the period. Deutsche Bank AG lifted its stake in shares of 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 last quarter. Fifth Third Bancorp raised its stake in SolarEdge Technologies by 93.7% in the first 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 during the last quarter. US Bancorp DE raised its stake in shares of SolarEdge Technologies by 25.2% in the first 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 raised its position in SolarEdge Technologies by 1.5% during 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 acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company's stock.

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.

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