UBS Group Increases SolarEdge Technologies (NASDAQ:SEDG) Price Target to $20.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price boosted by UBS Group from $17.00 to $20.00 in a report issued on Tuesday,Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other research analysts have also commented on the stock. The Goldman Sachs Group upped their price objective on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Susquehanna dropped their target price on shares of SolarEdge Technologies from $17.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Barclays boosted their price objective on SolarEdge Technologies from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 16th. Jefferies Financial Group decreased their price target on shares of SolarEdge Technologies from $12.00 to $9.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 15th. Finally, Piper Sandler lifted their price objective on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Ten 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, the stock has an average rating of “Hold” and a consensus target price of $17.00.

SolarEdge Technologies Price Performance

Shares of NASDAQ:SEDG opened at $21.02 on Tuesday. The company’s fifty day moving average is $15.87 and its two-hundred day moving average is $15.38. The company has a market cap of $1.24 billion, a P/E ratio of -0.67 and a beta of 1.59. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. SolarEdge Technologies has a 12-month low of $10.24 and a 12-month high of $45.16.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, topping the consensus estimate 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 company had revenue of $219.48 million for the quarter, compared to analyst estimates of $205.39 million. During the same quarter in the prior year, the business posted ($1.90) EPS. SolarEdge Technologies’s quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts expect that SolarEdge Technologies will post -4.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new position in SolarEdge Technologies during the fourth quarter worth about $227,000. Teza Capital Management LLC boosted its stake in shares of SolarEdge Technologies by 59.1% during the 4th quarter. Teza Capital Management LLC now owns 50,052 shares of the semiconductor company’s stock worth $681,000 after acquiring an additional 18,602 shares during the period. Grantham Mayo Van Otterloo & Co. LLC boosted its stake 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 worth $67,370,000 after acquiring an additional 641,915 shares during the period. Headlands Technologies LLC acquired a new position in shares of SolarEdge Technologies during the 4th quarter worth approximately $257,000. Finally, Renaissance Technologies LLC raised its stake in 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 acquiring an additional 278,200 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.