SolarEdge Technologies (NASDAQ:SEDG) Receives Neutral Rating from The Goldman Sachs Group

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report)'s stock had its "neutral" rating reiterated by equities researchers at The Goldman Sachs Group in a research report issued on Wednesday,Benzinga reports. They currently have a $27.00 price objective on the semiconductor company's stock. The Goldman Sachs Group's price target would indicate a potential upside of 3.25% from the company's current price.

SEDG has been the topic of several other research reports. UBS Group upped their price target on SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Mizuho increased their price objective on SolarEdge Technologies from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, June 2nd. Barclays raised their price target on SolarEdge Technologies from $11.00 to $12.00 and gave the company an "underweight" rating in a research note on Wednesday, June 11th. Glj Research cut SolarEdge Technologies from a "hold" rating to a "strong sell" rating and set a $6.90 price objective for the company. in a research report on Tuesday, June 17th. Finally, KeyCorp raised SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a report on Tuesday. Eleven equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $15.96.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $26.15 on Wednesday. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $32.11. The firm has a market capitalization of $1.54 billion, a PE ratio of -0.87 and a beta of 1.62. The business's fifty day moving average price is $18.91 and its two-hundred day moving average price is $16.27. 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 released its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, beating analysts' consensus estimates of ($1.26) by $0.12. SolarEdge Technologies had a negative return on equity of 127.53% and a negative net margin of 182.81%. The business had revenue of $219.48 million during the quarter, compared to analyst estimates of $205.39 million. During the same quarter last year, the company posted ($1.90) EPS. SolarEdge Technologies's revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts expect that SolarEdge Technologies will post -4.54 EPS for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

A number of hedge funds have recently modified their holdings of SEDG. Jones Financial Companies Lllp boosted its holdings 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 buying an additional 1,954 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in SolarEdge Technologies by 38.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company's stock worth $7,085,000 after buying an additional 144,733 shares during the period. Counterpoint Mutual Funds LLC lifted its stake in SolarEdge Technologies by 159.8% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 58,832 shares of the semiconductor company's stock worth $800,000 after purchasing an additional 36,187 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in SolarEdge Technologies in the 4th quarter worth $27,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in SolarEdge Technologies in the 4th quarter worth $146,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.