SolarEdge Technologies' (SEDG) Underweight Rating Reiterated at KeyCorp

KeyCorp reissued their underweight rating on shares of SolarEdge Technologies (NASDAQ:SEDG - Free Report) in a research note published on Tuesday, MarketBeat Ratings reports. The firm currently has a $16.00 price target on the semiconductor company's stock.

Several other equities analysts also recently weighed in on SEDG. Mizuho boosted their target price on SolarEdge Technologies from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, June 2nd. Northland Capmk upgraded shares of SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a research report on Friday, May 23rd. The Goldman Sachs Group raised their target price on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Guggenheim reaffirmed a "sell" rating and set a $5.00 price target on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Finally, UBS Group upped their price target on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Twelve equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $16.96.

SolarEdge Technologies Stock Performance

NASDAQ SEDG traded down $0.46 on Tuesday, hitting $16.52. 5,953,688 shares of the company traded hands, compared to its average volume of 4,832,745. The business's 50 day moving average price is $16.51 and its 200-day moving average price is $15.53. SolarEdge Technologies has a 52-week low of $10.24 and a 52-week high of $35.29. The company has a current ratio of 2.04, a quick ratio of 1.39 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $975.34 million, a price-to-earnings ratio of -0.55 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, beating 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 firm had revenue of $219.48 million for the quarter, compared to the consensus estimate of $205.39 million. The company's revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm earned ($1.90) EPS. Equities analysts expect that SolarEdge Technologies will post -4.54 earnings per share for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

A number of large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in SolarEdge Technologies by 2,680.8% during the 1st quarter. GAMMA Investing LLC now owns 146,380 shares of the semiconductor company's stock valued at $2,368,000 after acquiring an additional 141,116 shares during the last quarter. Teza Capital Management LLC raised its stake in shares of SolarEdge Technologies by 59.1% in the 4th quarter. Teza Capital Management LLC now owns 50,052 shares of the semiconductor company's stock valued at $681,000 after purchasing an additional 18,602 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of SolarEdge Technologies by 14.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock worth $67,370,000 after purchasing an additional 641,915 shares during the last quarter. Headlands Technologies LLC acquired a new position in SolarEdge Technologies in the fourth quarter worth about $257,000. Finally, Renaissance Technologies LLC increased its holdings in SolarEdge Technologies by 79.6% in the fourth quarter. Renaissance Technologies LLC now owns 627,700 shares of the semiconductor company's stock valued at $8,537,000 after buying an additional 278,200 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.