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

SolarEdge Technologies (NASDAQ:SEDG) had its price objective boosted by stock analysts at Mizuho from $18.00 to $29.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Mizuho’s price objective would suggest a potential upside of 5.96% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group reissued a “neutral” rating and set a $27.00 target price on shares of SolarEdge Technologies in a research report on Wednesday, July 9th. Jefferies Financial Group decreased their price objective on SolarEdge Technologies from $12.00 to $9.00 and set an “underperform” rating on the stock in a report on Tuesday, April 15th. KeyCorp raised SolarEdge Technologies from an “underweight” rating to a “sector weight” rating in a report on Tuesday, July 8th. Glj Research downgraded SolarEdge Technologies from a “hold” rating to a “strong sell” rating and set a $6.90 price objective on the stock. in a report on Tuesday, June 17th. Finally, Barclays raised SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $12.00 to $29.00 in a report on Monday. Ten analysts have rated the stock with a sell rating and eighteen have assigned a hold rating to the stock. Based on data from MarketBeat, SolarEdge Technologies has an average rating of “Hold” and an average target price of $17.64.

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock opened at $27.37 on Monday. The firm has a market capitalization of $1.62 billion, a P/E ratio of -0.91 and a beta of 1.62. The company has a current ratio of 2.04, a quick ratio of 1.39 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average price of $20.29 and a 200 day moving average price of $16.70. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $31.07.

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

Hedge Funds Weigh In On SolarEdge Technologies

Hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its holdings in shares of SolarEdge Technologies by 21.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,868 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 508 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new position in shares of SolarEdge Technologies during the 2nd quarter worth $204,000. Bayforest Capital Ltd grew its holdings in shares of SolarEdge Technologies by 367.3% during the 1st 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 period. Caxton Associates LLP purchased a new position in shares of SolarEdge Technologies during the 1st quarter worth $4,164,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of SolarEdge Technologies by 8.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 997,962 shares of the semiconductor company’s stock worth $16,147,000 after purchasing an additional 79,461 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.

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.