SolarEdge Technologies (NASDAQ:SEDG) Stock Price Expected to Rise, Mizuho Analyst Says

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its price target increased by equities researchers at Mizuho from $18.00 to $29.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the semiconductor company's stock. Mizuho's price objective would indicate a potential upside of 8.53% from the stock's previous close.

Several other equities research analysts also recently weighed in on the company. Canaccord Genuity Group lifted their price objective on shares of SolarEdge Technologies from $14.00 to $16.50 and gave the company a "hold" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. cut their price target on SolarEdge Technologies from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Guggenheim reiterated a "sell" rating and set a $5.00 target price on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Susquehanna lowered their price target on shares of SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Northland Capmk upgraded SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a research report on Friday, May 23rd. Ten investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $17.44.

SolarEdge Technologies Stock Performance

SEDG traded up $1.10 during trading on Monday, hitting $26.72. 3,741,148 shares of the stock were exchanged, compared to its average volume of 4,857,848. The firm has a market capitalization of $1.58 billion, a P/E ratio of -0.89 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 stock has a fifty day moving average price of $19.76 and a two-hundred day moving average price of $16.54. The company has a quick ratio of 1.39, a current ratio of 2.04 and a debt-to-equity ratio of 0.62.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, beating analysts' consensus estimates of ($1.26) by $0.12. The business had revenue of $219.48 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted ($1.90) EPS. As a group, sell-side analysts predict that SolarEdge Technologies will post -4.54 earnings per share for the current year.

Institutional Trading of SolarEdge Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Edmond DE Rothschild Holding S.A. lifted its holdings in 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 buying an additional 600 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of SolarEdge Technologies by 0.5% during the first quarter. Deutsche Bank AG now owns 148,734 shares of the semiconductor company's stock valued at $2,407,000 after buying an additional 766 shares during the last quarter. Fifth Third Bancorp boosted 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 acquiring an additional 790 shares during the period. US Bancorp DE grew its position in SolarEdge Technologies by 25.2% in the 1st quarter. US Bancorp DE now owns 4,560 shares of the semiconductor company's stock valued at $74,000 after buying an additional 918 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in shares of 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 acquiring an additional 1,000 shares in 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.