SolarEdge Technologies (NASDAQ:SEDG) Stock Price Expected to Rise, Mizuho Analyst Says

SolarEdge Technologies (NASDAQ:SEDG) had its price objective upped by Mizuho from $15.00 to $18.00 in a research note published on Monday morning,Benzinga reports. Mizuho currently has a neutral rating on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the company. Northland Capmk raised SolarEdge Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, May 23rd. BMO Capital Markets lowered SolarEdge Technologies from a “market perform” rating to an “underperform” rating and increased their price target for the company from $13.00 to $15.00 in a research report on Thursday, February 20th. Barclays increased their price target on SolarEdge Technologies from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Wednesday, April 16th. Susquehanna decreased 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. Finally, Roth Mkm increased their price target on SolarEdge Technologies from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Ten investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SolarEdge Technologies has a consensus rating of “Hold” and an average price target of $16.84.

SolarEdge Technologies Price Performance

NASDAQ SEDG opened at $17.47 on Monday. SolarEdge Technologies has a 12 month low of $10.24 and a 12 month high of $50.83. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. The firm has a market capitalization of $1.03 billion, a PE ratio of -0.56 and a beta of 1.50. The company’s 50 day simple moving average is $15.38 and its 200 day simple moving average is $15.04.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.12. SolarEdge Technologies had a negative net margin of 192.13% and a negative return on equity of 95.05%. The business had revenue of $219.48 million for the quarter, compared to analyst estimates of $205.39 million. During the same quarter last year, the business earned ($1.90) earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts forecast that SolarEdge Technologies will post -4.54 EPS for the current fiscal year.

Hedge Funds Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC purchased a new position in shares of SolarEdge Technologies during the 4th quarter valued at $227,000. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of SolarEdge Technologies by 14.9% during 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 acquiring an additional 641,915 shares in the last quarter. Teza Capital Management LLC lifted its stake in shares of SolarEdge Technologies by 59.1% in the 4th quarter. Teza Capital Management LLC now owns 50,052 shares of the semiconductor company’s stock valued at $681,000 after purchasing an additional 18,602 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of SolarEdge Technologies in the 4th quarter valued at $257,000. Finally, Renaissance Technologies LLC lifted its stake in shares of SolarEdge Technologies by 79.6% in the 4th quarter. Renaissance Technologies LLC now owns 627,700 shares of the semiconductor company’s stock valued at $8,537,000 after purchasing an additional 278,200 shares during the last quarter. 95.10% of the stock is currently owned by hedge funds and other 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.