SolarEdge Technologies’ (SEDG) Neutral Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their neutral rating on shares of SolarEdge Technologies (NASDAQ:SEDG) in a research note released on Tuesday morning,Benzinga reports. The firm currently has a $23.00 price objective on the semiconductor company’s stock, up from their previous price objective of $18.00.

Several other analysts have also weighed in on the company. Canaccord Genuity Group upped their target price on SolarEdge Technologies from $14.00 to $16.50 and gave the company a “hold” rating in a report on Wednesday, May 7th. Barclays raised SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $12.00 to $29.00 in a report on Monday. UBS Group upped their target price on SolarEdge Technologies from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, June 10th. Susquehanna lowered their target price on SolarEdge Technologies from $17.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Jefferies Financial Group upped their target price on SolarEdge Technologies from $10.00 to $18.00 and gave the company an “underperform” rating in a report on Monday. Ten investment analysts have rated the stock with a sell rating and eighteen have assigned a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.36.

SolarEdge Technologies Trading Up 1.2%

Shares of SEDG stock opened at $25.25 on Tuesday. The business’s fifty day moving average price is $20.63 and its 200 day moving average price is $16.84. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $31.07. The firm has a market capitalization of $1.49 billion, a PE ratio of -0.84 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 announced its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.12. SolarEdge Technologies had a negative return on equity of 127.53% and a negative net margin of 182.81%. The firm 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 company posted ($1.90) earnings per share. SolarEdge Technologies’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, sell-side analysts forecast that SolarEdge Technologies will post -4.54 EPS for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

A number of large investors have recently modified their holdings of SEDG. Edmond DE Rothschild Holding S.A. grew its stake in SolarEdge Technologies by 60.0% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 600 shares in the last quarter. Fifth Third Bancorp grew its stake in SolarEdge Technologies by 93.7% during the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 790 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in SolarEdge Technologies during the 4th quarter valued at approximately $27,000. Banque Cantonale Vaudoise acquired a new stake in SolarEdge Technologies during the 1st quarter valued at approximately $35,000. Finally, Jones Financial Companies Lllp grew its stake in SolarEdge Technologies by 401.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 1,954 shares in the last quarter. 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.