SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $50.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective hoisted by JPMorgan Chase & Co. from $49.00 to $50.00 in a report issued on Tuesday, Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

Several other research analysts have also commented on SEDG. Scotiabank dropped their price target on shares of SolarEdge Technologies from $72.00 to $46.00 and set a sector perform rating on the stock in a research note on Tuesday, June 25th. BMO Capital Markets lowered their target price on shares of SolarEdge Technologies from $73.00 to $56.00 and set a market perform rating on the stock in a research report on Thursday, May 9th. Canaccord Genuity Group reduced their price target on SolarEdge Technologies from $58.00 to $38.00 and set a hold rating for the company in a research report on Tuesday, June 25th. Susquehanna lowered their price objective on SolarEdge Technologies from $56.00 to $36.00 and set a neutral rating on the stock in a report on Monday. Finally, Wells Fargo & Company cut their price objective on SolarEdge Technologies from $62.00 to $29.00 and set an equal weight rating on the stock in a research note on Tuesday, July 2nd. Four equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, SolarEdge Technologies currently has an average rating of Hold and an average target price of $70.69.

SolarEdge Technologies Price Performance

SEDG opened at $26.74 on Tuesday. The stock has a fifty day moving average price of $39.03 and a 200 day moving average price of $58.80. The company has a current ratio of 4.54, a quick ratio of 2.19 and a debt-to-equity ratio of 0.30. SolarEdge Technologies has a 1 year low of $23.51 and a 1 year high of $281.37. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -5.75 and a beta of 1.52.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.07) by ($0.35). SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. The firm had revenue of $204.40 million for the quarter, compared to analyst estimates of $194.82 million. Analysts forecast that SolarEdge Technologies will post -6.52 EPS for the current fiscal year.

Institutional Trading of SolarEdge Technologies

A number of hedge funds have recently modified their holdings of the company. Yelin Lapidot Holdings Management Ltd. increased its position in shares of SolarEdge Technologies by 0.6% during the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 21,513 shares of the semiconductor company’s stock valued at $2,014,000 after purchasing an additional 130 shares during the period. Liberty One Investment Management LLC boosted its stake in SolarEdge Technologies by 4.2% during the fourth quarter. Liberty One Investment Management LLC now owns 3,683 shares of the semiconductor company’s stock worth $345,000 after buying an additional 148 shares in the last quarter. Strategic Advocates LLC boosted its stake in SolarEdge Technologies by 10.1% during the fourth quarter. Strategic Advocates LLC now owns 2,329 shares of the semiconductor company’s stock worth $218,000 after buying an additional 214 shares in the last quarter. Manchester Capital Management LLC increased its holdings in SolarEdge Technologies by 1,345.0% in the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 269 shares during the period. Finally, Green Alpha Advisors LLC raised its stake in shares of SolarEdge Technologies by 2.7% in the 1st quarter. Green Alpha Advisors LLC now owns 10,226 shares of the semiconductor company’s stock valued at $726,000 after buying an additional 270 shares in the last quarter. 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.