Mizuho Issues Positive Forecast for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG) had its target price increased by equities researchers at Mizuho from $18.00 to $29.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Mizuho’s price objective would indicate a potential upside of 10.37% from the company’s current price.

Several other equities analysts have also recently weighed in on SEDG. Guggenheim reaffirmed a “sell” rating and set a $5.00 price target on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. KeyCorp raised shares of SolarEdge Technologies from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, July 8th. Barclays raised shares of SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $12.00 to $29.00 in a research note on Monday. Jefferies Financial Group reduced their price objective on shares of SolarEdge Technologies from $12.00 to $9.00 and set an “underperform” rating for the company in a research report on Tuesday, April 15th. Finally, UBS Group lifted their price objective on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 10th. Ten equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.08.

SolarEdge Technologies Stock Up 2.6%

NASDAQ SEDG traded up $0.66 during trading hours on Monday, reaching $26.28. 1,437,215 shares of the company’s stock were exchanged, compared to its average volume of 4,708,539. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -0.87 and a beta of 1.62. SolarEdge Technologies has a one year low of $10.24 and a one year high of $31.07. The company’s 50-day moving average is $19.76 and its two-hundred day moving average is $16.54. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.39 and a current ratio of 2.04.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, topping the consensus estimate of ($1.26) by $0.12. The company had revenue of $219.48 million during the quarter, compared to analysts’ expectations of $205.39 million. SolarEdge Technologies had a negative net margin of 182.81% and a negative return on equity of 127.53%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the business earned ($1.90) EPS. On average, analysts forecast that SolarEdge Technologies will post -4.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bayforest Capital Ltd grew its holdings in shares of SolarEdge Technologies by 367.3% during the first quarter. Bayforest Capital Ltd now owns 57,036 shares of the semiconductor company’s stock worth $923,000 after purchasing an additional 44,831 shares during the last quarter. Caxton Associates LLP bought a new stake in SolarEdge Technologies in the first quarter valued at approximately $4,164,000. Goldman Sachs Group Inc. lifted its stake in SolarEdge Technologies by 8.7% in the first quarter. Goldman Sachs Group Inc. now owns 997,962 shares of the semiconductor company’s stock valued at $16,147,000 after buying an additional 79,461 shares during the period. Jones Financial Companies Lllp lifted its stake in SolarEdge Technologies by 5,736.7% in the first quarter. Jones Financial Companies Lllp now owns 142,474 shares of the semiconductor company’s stock valued at $2,305,000 after buying an additional 140,033 shares during the period. Finally, Interval Partners LP lifted its stake in SolarEdge Technologies by 249.4% in the first quarter. Interval Partners LP now owns 76,387 shares of the semiconductor company’s stock valued at $1,236,000 after buying an additional 54,523 shares during the period. 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.