SolarEdge Technologies (NASDAQ:SEDG) Upgraded by Northland Securities to "Market Perform" Rating

Northland Securities upgraded shares of SolarEdge Technologies (NASDAQ:SEDG - Free Report) from an under perform rating to a market perform rating in a report published on Friday morning, MarketBeat.com reports. They currently have $15.50 price objective on the semiconductor company's stock.

A number of other research analysts also recently issued reports on the stock. Northland Capmk downgraded shares of SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a research report on Friday, May 16th. Barclays raised their target price on shares of SolarEdge Technologies from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Wednesday, April 16th. The Goldman Sachs Group upped their target price on SolarEdge Technologies from $21.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Jefferies Financial Group cut their price target on SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating on the stock in a report on Tuesday, April 15th. Finally, Royal Bank of Canada upped their price objective on SolarEdge Technologies from $14.00 to $15.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. Eleven analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $16.56.

SolarEdge Technologies Stock Down 1.1%

Shares of NASDAQ:SEDG traded down $0.19 during midday trading on Friday, reaching $17.03. The company had a trading volume of 1,024,507 shares, compared to its average volume of 4,567,486. The stock has a market capitalization of $1.01 billion, a P/E ratio of -0.55 and a beta of 1.50. The stock's fifty day moving average price is $15.29 and its 200-day moving average price is $14.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. SolarEdge Technologies has a one year low of $10.24 and a one year high of $51.50.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $205.39 million. During the same quarter in the prior year, the business posted ($1.90) EPS. The company's revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts expect that SolarEdge Technologies will post -4.54 earnings per share for the current fiscal year.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery acquired 30,000 shares of SolarEdge Technologies stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $13.70 per share, with a total value of $411,000.00. Following the completion of the purchase, the chairman now owns 274,478 shares of the company's stock, valued at $3,760,348.60. This represents a 12.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.67% of the company's stock.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds have recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of SolarEdge Technologies by 60.0% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 600 shares in the last quarter. Deutsche Bank AG raised its position in 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 period. Fifth Third Bancorp lifted its stake in SolarEdge Technologies by 93.7% in 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 in the last quarter. US Bancorp DE boosted its position in SolarEdge Technologies by 25.2% during the 1st quarter. US Bancorp DE now owns 4,560 shares of the semiconductor company's stock worth $74,000 after acquiring an additional 918 shares during the period. Finally, New York State Teachers Retirement System boosted its position in SolarEdge Technologies by 1.5% during the 1st quarter. New York State Teachers Retirement System now owns 66,436 shares of the semiconductor company's stock worth $1,075,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 95.10% of the company's stock.

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.