SolarEdge Technologies, Inc. (NASDAQ:SEDG) Stock Has Consensus Price Target of $38.33

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have been given a consensus recommendation of “Reduce” by the eighteen ratings firms that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $38.53.

A number of equities research analysts have recently weighed in on SEDG shares. BMO Capital Markets dropped their price objective on SolarEdge Technologies from $31.00 to $28.00 and set an “underperform” rating for the company in a research note on Wednesday, October 21st. Royal Bank Of Canada increased their target price on SolarEdge Technologies from $24.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, September 11th. Mizuho increased their target price on SolarEdge Technologies from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 11th. TD Cowen lowered their target price on SolarEdge Technologies from $85.00 to $75.00 and set a “buy” rating for the company in a report on Monday, July 20th. Finally, Barclays dropped their target price on SolarEdge Technologies from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 7th.

Institutional Investors Weigh In On SolarEdge Technologies

Several large investors have recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new position in shares of SolarEdge Technologies in the second quarter worth $31,000. Nykredit A S purchased a new position in SolarEdge Technologies in the second quarter valued at $36,000. State of Wyoming boosted its holdings in SolarEdge Technologies by 32.9% in the first quarter. State of Wyoming now owns 1,237 shares of the semiconductor company’s stock valued at $63,000 after purchasing an additional 306 shares during the period. Public Employees Retirement System of Ohio purchased a new position in SolarEdge Technologies in the second quarter valued at $72,000. Finally, Farther Finance Advisors LLC grew its stake in SolarEdge Technologies by 18.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,045 shares of the semiconductor company’s stock worth $97,000 after purchasing an additional 479 shares in the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG opened at $31.64 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.38 and a current ratio of 2.03. The stock has a market capitalization of $1.95 billion, a P/E ratio of -7.03 and a beta of 1.44. The company has a 50 day moving average price of $32.90 and a 200 day moving average price of $42.26. SolarEdge Technologies has a fifty-two week low of $28.21 and a fifty-two week high of $81.25.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, August 5th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. SolarEdge Technologies had a negative return on equity of 29.17% and a negative net margin of 20.29%. The company had revenue of $346.20 million for the quarter, compared to analyst estimates of $341.15 million. During the same quarter in the previous year, the company earned ($0.81) earnings per share. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. Equities research analysts forecast that SolarEdge Technologies will post -1.21 EPS for the current year.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for solar energy generation, storage and management. Its core products include power optimizers, solar inverters and monitoring systems designed to improve the performance, visibility and safety of photovoltaic installations.

The company also offers complementary smart-energy solutions, including battery storage, electric-vehicle charging equipment, energy-management software and related products for residential, commercial and industrial customers.