SolarEdge Technologies (NASDAQ:SEDG) Earns Neutral Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of SolarEdge Technologies (NASDAQ:SEDG - Free Report) in a research report report published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a $23.00 target price on the semiconductor company's stock, up from their prior target price of $18.00.

Other analysts also recently issued reports about the company. Susquehanna lowered their price target on SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Morgan Stanley restated an "underweight" rating and issued a $10.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Barclays upgraded SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $12.00 to $29.00 in a research report on Monday. The Goldman Sachs Group reiterated a "neutral" rating and set a $27.00 target price on shares of SolarEdge Technologies in a research report on Wednesday, July 9th. Finally, Northland Securities upgraded SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 target price for the company in a research report on Friday, May 23rd. Ten analysts have rated the stock with a sell rating and eighteen have issued a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $17.36.

SolarEdge Technologies Price Performance

Shares of SEDG stock traded up $1.51 on Tuesday, reaching $26.77. The company's stock had a trading volume of 3,094,558 shares, compared to its average volume of 4,686,836. The stock's fifty day simple moving average is $20.63 and its 200-day simple moving average is $16.84. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $31.07. 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 $1.58 billion, a price-to-earnings ratio of -0.89 and a beta of 1.62.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.26) by $0.12. The company had revenue of $219.48 million during the quarter, compared to the consensus estimate of $205.39 million. SolarEdge Technologies had a negative return on equity of 127.53% and a negative net margin of 182.81%. SolarEdge Technologies's revenue was up 7.4% on a year-over-year basis. During the same period last year, the company earned ($1.90) earnings per share. Analysts forecast that SolarEdge Technologies will post -4.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Edmond DE Rothschild Holding S.A. grew its stake in 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 during the last quarter. Fifth Third Bancorp grew its stake in shares of SolarEdge Technologies by 93.7% during the first 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 last quarter. Millstone Evans Group LLC purchased a new stake in shares of SolarEdge Technologies during the fourth quarter worth about $27,000. Banque Cantonale Vaudoise purchased a new stake in shares of SolarEdge Technologies during the first quarter worth about $35,000. Finally, Jones Financial Companies Lllp grew its stake in shares of SolarEdge Technologies by 401.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 1,954 shares during the last quarter. 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.