SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives $31.52 Average Target Price from Brokerages

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has been assigned an average rating of “Reduce” from the thirty-one ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $31.52.

Several analysts have commented on the company. BMO Capital Markets cut their target price on SolarEdge Technologies from $24.00 to $21.00 and set a “market perform” rating on the stock in a research note on Monday, October 14th. Citigroup dropped their price target on SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Morgan Stanley dropped their price target on SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Glj Research downgraded SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, October 8th. Finally, TD Cowen restated a “hold” rating and issued a $16.00 price target (down from $35.00) on shares of SolarEdge Technologies in a research note on Monday, October 21st.

Institutional Investors Weigh In On SolarEdge Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of SEDG. Swedbank AB bought a new stake in shares of SolarEdge Technologies in the first quarter worth about $261,312,000. Vanguard Group Inc. increased its holdings in shares of SolarEdge Technologies by 2.8% in the first quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock worth $166,618,000 after purchasing an additional 62,942 shares during the last quarter. Quarry LP bought a new stake in shares of SolarEdge Technologies in the second quarter worth about $36,627,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of SolarEdge Technologies by 0.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company’s stock worth $25,531,000 after purchasing an additional 2,795 shares during the last quarter. Finally, M&G PLC increased its holdings in shares of SolarEdge Technologies by 4.2% in the third quarter. M&G PLC now owns 932,711 shares of the semiconductor company’s stock worth $21,452,000 after purchasing an additional 38,001 shares during the last quarter. 95.10% of the stock is owned by institutional investors.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $17.06 on Friday. The business’s fifty day simple moving average is $20.44 and its two-hundred day simple moving average is $32.74. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32. SolarEdge Technologies has a 12 month low of $14.82 and a 12 month high of $103.15. The company has a market cap of $977.52 million, a price-to-earnings ratio of -3.67 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.19). SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The business had revenue of $265.41 million for the quarter, compared to analysts’ expectations of $264.31 million. During the same quarter in the prior year, the business posted $2.06 earnings per share. The business’s revenue for the quarter was down 73.2% on a year-over-year basis. Research analysts anticipate that SolarEdge Technologies will post -8.85 earnings per share for the current fiscal 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.