Jefferies Financial Group Forecasts Strong Price Appreciation for SolarEdge Technologies (NASDAQ:SEDG) Stock

SolarEdge Technologies (NASDAQ:SEDG) had its target price upped by research analysts at Jefferies Financial Group from $10.00 to $18.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “underperform” rating on the semiconductor company’s stock. Jefferies Financial Group’s target price suggests a potential downside of 34.23% from the stock’s previous close.

A number of other brokerages also recently weighed in on SEDG. Wells Fargo & Company decreased their price objective on shares of SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Mizuho increased their target price on shares of SolarEdge Technologies from $18.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday. Glj Research cut shares of SolarEdge Technologies from a “hold” rating to a “strong sell” rating and set a $6.90 price target for the company. in a research report on Tuesday, June 17th. Northland Capmk upgraded shares of SolarEdge Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, May 23rd. Finally, Guggenheim reissued a “sell” rating and set a $5.00 price objective on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating and eighteen have given a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.64.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $27.37 on Monday. SolarEdge Technologies has a one year low of $10.24 and a one year high of $31.07. The stock has a 50-day moving average of $20.29 and a 200-day moving average of $16.70. The company has a market cap of $1.62 billion, a PE ratio of -0.91 and a beta of 1.62. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.04 and a quick ratio of 1.39.

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

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new stake in shares of SolarEdge Technologies during the 4th quarter worth $17,909,000. Ion Asset Management Ltd. boosted its stake in shares of SolarEdge Technologies by 135.9% in the 1st quarter. Ion Asset Management Ltd. now owns 2,082,497 shares of the semiconductor company’s stock valued at $33,695,000 after purchasing an additional 1,199,801 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in SolarEdge Technologies by 10,038.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,109,225 shares of the semiconductor company’s stock worth $17,945,000 after acquiring an additional 1,098,284 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its stake in SolarEdge Technologies by 14.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock worth $67,370,000 after purchasing an additional 641,915 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of SolarEdge Technologies by 67.6% in the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock valued at $17,262,000 after acquiring an additional 512,035 shares in the last quarter. 95.10% of the stock is owned by 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.