SolarEdge Technologies (NASDAQ:SEDG) Given New $20.00 Price Target at UBS Group

SolarEdge Technologies (NASDAQ:SEDG) had its target price hoisted by UBS Group from $17.00 to $20.00 in a research note issued to investors on Tuesday morning,Benzinga reports. UBS Group currently has a neutral rating on the semiconductor company’s stock.

Several other equities research analysts have also issued reports on the stock. Mizuho lifted their price target on shares of SolarEdge Technologies from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, June 2nd. Susquehanna decreased their price target on shares of SolarEdge Technologies from $17.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. decreased their price target on shares of SolarEdge Technologies from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Glj Research raised shares of SolarEdge Technologies from a “strong sell” rating to a “hold” rating and set a $6.90 price target on the stock in a report on Friday, May 30th. Finally, Guggenheim reaffirmed a “sell” rating and set a $5.00 price target on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.96.

SolarEdge Technologies Price Performance

SEDG stock opened at $20.93 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. SolarEdge Technologies has a 12 month low of $10.24 and a 12 month high of $49.57. The firm has a market cap of $1.24 billion, a P/E ratio of -0.67 and a beta of 1.59. The company’s 50-day moving average price is $15.59 and its two-hundred day moving average price is $15.29.

SolarEdge Technologies (NASDAQ:SEDG) last released 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 return on equity of 95.05% and a negative net margin of 192.13%. The firm had revenue of $219.48 million for the quarter, compared to analysts’ expectations of $205.39 million. During the same quarter in the previous year, the business posted ($1.90) earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts anticipate that SolarEdge Technologies will post -4.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

A number of institutional investors have recently modified their holdings of SEDG. Point72 Asset Management L.P. bought a new stake in shares of SolarEdge Technologies in the 4th quarter valued at $17,909,000. Ion Asset Management Ltd. boosted its stake in shares of SolarEdge Technologies by 135.9% in the 1st quarter. Ion Asset Management Ltd. now owns 2,082,497 shares of the semiconductor company’s stock valued at $33,695,000 after purchasing an additional 1,199,801 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of SolarEdge Technologies by 10,038.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,109,225 shares of the semiconductor company’s stock valued at $17,945,000 after purchasing an additional 1,098,284 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of SolarEdge Technologies by 14.9% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock valued at $67,370,000 after purchasing an additional 641,915 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of SolarEdge Technologies by 67.6% in the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock valued at $17,262,000 after purchasing an additional 512,035 shares during the last quarter. 95.10% of the stock is owned by institutional investors.

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.