Brokerages Set SolarEdge Technologies, Inc. (NASDAQ:SEDG) Target Price at $85.19

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have received a consensus rating of “Hold” from the thirty-one brokerages that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, twenty-four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $77.27.

SEDG has been the topic of several recent analyst reports. Piper Sandler cut their price objective on shares of SolarEdge Technologies from $53.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday. B. Riley cut their target price on shares of SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Susquehanna cut shares of SolarEdge Technologies from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $92.00 to $56.00 in a research note on Monday, May 13th. Barclays raised their target price on SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Finally, Scotiabank cut their price target on SolarEdge Technologies from $72.00 to $46.00 and set a “sector perform” rating for the company in a report on Tuesday.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Swedbank AB purchased a new position in SolarEdge Technologies during the 1st quarter valued at about $261,312,000. Vanguard Group Inc. raised its holdings in SolarEdge Technologies by 3.8% in the third quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock worth $327,566,000 after purchasing an additional 92,230 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of SolarEdge Technologies by 2.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,007,934 shares of the semiconductor company’s stock valued at $71,543,000 after buying an additional 23,033 shares in the last quarter. Impax Asset Management Group plc lifted its position in SolarEdge Technologies by 1.6% during the fourth quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company’s stock valued at $88,890,000 after acquiring an additional 14,878 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in SolarEdge Technologies by 37.3% in the third quarter. Clearbridge Investments LLC now owns 561,160 shares of the semiconductor company’s stock worth $72,676,000 after purchasing an additional 152,420 shares during the last quarter. 95.10% of the stock is owned by institutional investors.

SolarEdge Technologies Trading Down 5.3 %

NASDAQ:SEDG opened at $24.99 on Friday. SolarEdge Technologies has a 12 month low of $24.72 and a 12 month high of $288.87. The company has a current ratio of 4.54, a quick ratio of 2.19 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $48.85 and a 200-day moving average price of $65.95. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -5.37 and a beta of 1.62.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share for the quarter, missing the consensus estimate of ($2.07) by ($0.35). The firm had revenue of $204.40 million during the quarter, compared to analysts’ expectations of $194.82 million. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. Equities analysts predict that SolarEdge Technologies will post -6.3 EPS for the current year.

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.