SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $26.00

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its price objective increased by equities researchers at Susquehanna from $14.00 to $26.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the semiconductor company's stock. Susquehanna's price objective would suggest a potential downside of 10.06% from the stock's previous close.

Several other analysts also recently issued reports on the company. Glj Research downgraded SolarEdge Technologies from a "hold" rating to a "strong sell" rating and set a $6.90 price objective on the stock. in a research report on Tuesday, June 17th. BNP Paribas upgraded SolarEdge Technologies to a "strong sell" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $23.00 price objective (up from $18.00) on shares of SolarEdge Technologies in a research report on Tuesday, July 15th. KeyCorp upgraded SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company reduced their price objective on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Eleven investment analysts have rated the stock with a sell rating and eighteen have assigned a hold rating to the company's stock. According to data from MarketBeat.com, SolarEdge Technologies currently has a consensus rating of "Hold" and a consensus target price of $17.92.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG traded up $2.29 during trading on Monday, hitting $28.91. 3,164,901 shares of the company were exchanged, compared to its average volume of 4,683,903. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -0.96 and a beta of 1.62. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $31.07. The firm's fifty day moving average price is $20.77 and its 200 day moving average price is $16.97. 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 issued its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.26) by $0.12. SolarEdge Technologies had a negative net margin of 182.81% and a negative return on equity of 127.53%. The company had revenue of $219.48 million for the quarter, compared to analyst estimates of $205.39 million. During the same period in the previous year, the firm earned ($1.90) EPS. The business's revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts expect that SolarEdge Technologies will post -4.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SEDG. Fifth Third Bancorp boosted its stake in shares of SolarEdge Technologies by 93.7% during 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 during the period. Edmond DE Rothschild Holding S.A. increased 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 worth $26,000 after purchasing an additional 600 shares during the last quarter. Millstone Evans Group LLC acquired a new position in shares of SolarEdge Technologies during the 4th quarter worth $27,000. Banque Cantonale Vaudoise acquired a new position in shares of SolarEdge Technologies during the 1st quarter worth $35,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of SolarEdge Technologies by 21.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,868 shares of the semiconductor company's stock worth $59,000 after purchasing an additional 508 shares during the last quarter. 95.10% of the stock is 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.

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