Barclays Increases SolarEdge Technologies (NASDAQ:SEDG) Price Target to $12.00

SolarEdge Technologies (NASDAQ:SEDG - Free Report) had its price target hoisted by Barclays from $11.00 to $12.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an underweight rating on the semiconductor company's stock.

Several other research firms have also recently weighed in on SEDG. Roth Mkm increased their target price on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Friday, February 21st. Mizuho increased their target price on shares of SolarEdge Technologies from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, June 2nd. BMO Capital Markets cut shares of SolarEdge Technologies from a "market perform" rating to an "underperform" rating and increased their target price for the company from $13.00 to $15.00 in a research note on Thursday, February 20th. UBS Group increased their target price on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. dropped their price target on shares of SolarEdge Technologies from $20.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Ten equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $17.00.

SolarEdge Technologies Stock Performance

SEDG stock traded up $2.28 during mid-day trading on Wednesday, reaching $23.30. 7,913,162 shares of the stock traded hands, compared to its average volume of 4,662,222. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $40.47. The business has a 50-day moving average of $16.09 and a two-hundred day moving average of $15.45. The firm has a market capitalization of $1.38 billion, a PE ratio of -0.75 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, beating the consensus estimate of ($1.26) by $0.12. SolarEdge Technologies had a negative net margin of 192.13% and a negative return on equity of 95.05%. The business had revenue of $219.48 million during the quarter, compared to analysts' expectations of $205.39 million. During the same quarter last year, the company earned ($1.90) earnings per share. The firm's revenue was up 7.4% on a year-over-year basis. As a group, equities analysts predict that SolarEdge Technologies will post -4.54 EPS for the current fiscal year.

Institutional Trading of SolarEdge Technologies

Hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new stake in shares of SolarEdge Technologies in the fourth quarter valued at approximately $17,909,000. Ion Asset Management Ltd. increased its holdings in shares of SolarEdge Technologies by 135.9% in the first quarter. Ion Asset Management Ltd. now owns 2,082,497 shares of the semiconductor company's stock valued at $33,695,000 after purchasing an additional 1,199,801 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of SolarEdge Technologies by 10,038.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,109,225 shares of the semiconductor company's stock valued at $17,945,000 after purchasing an additional 1,098,284 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of SolarEdge Technologies by 14.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock valued at $67,370,000 after purchasing an additional 641,915 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of SolarEdge Technologies by 67.6% in the fourth quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock valued at $17,262,000 after purchasing an additional 512,035 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.