SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $34.00 at TD Cowen

SolarEdge Technologies (NASDAQ:SEDG) had its target price hoisted by analysts at TD Cowen from $26.00 to $34.00 in a report issued on Thursday. The firm currently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s price objective points to a potential downside of 17.11% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of SolarEdge Technologies from $22.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Monday, October 20th. UBS Group upped their price objective on SolarEdge Technologies from $20.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 19th. Mizuho boosted their target price on SolarEdge Technologies from $18.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Oppenheimer reiterated a “market perform” rating on shares of SolarEdge Technologies in a research note on Monday, August 11th. Finally, Barclays upped their target price on shares of SolarEdge Technologies from $29.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, October 9th. Eighteen research analysts have rated the stock with a Hold rating and eleven have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $22.24.

SolarEdge Technologies Stock Performance

NASDAQ SEDG opened at $41.02 on Thursday. The stock has a fifty day simple moving average of $35.74 and a 200-day simple moving average of $26.72. The company has a current ratio of 1.94, a quick ratio of 1.42 and a debt-to-equity ratio of 0.72. The stock has a market cap of $2.44 billion, a PE ratio of -1.37 and a beta of 1.63. SolarEdge Technologies has a twelve month low of $10.24 and a twelve month high of $41.92.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Thursday, August 7th. The semiconductor company reported ($0.81) earnings per share for the quarter, meeting the consensus estimate of ($0.81). SolarEdge Technologies had a negative net margin of 177.64% and a negative return on equity of 191.53%. The firm had revenue of $289.43 million during the quarter, compared to the consensus estimate of $270.03 million. During the same quarter last year, the firm earned ($1.79) EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts anticipate that SolarEdge Technologies will post -4.54 earnings per share for the current year.

Institutional Trading of SolarEdge Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. New York State Teachers Retirement System boosted its stake in shares of SolarEdge Technologies by 1.5% during the first quarter. New York State Teachers Retirement System now owns 66,436 shares of the semiconductor company’s stock valued at $1,075,000 after acquiring an additional 1,000 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in SolarEdge Technologies by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 284,729 shares of the semiconductor company’s stock valued at $4,607,000 after purchasing an additional 6,897 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in SolarEdge Technologies by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 269,944 shares of the semiconductor company’s stock valued at $4,368,000 after purchasing an additional 3,171 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of SolarEdge Technologies during the 1st quarter worth about $242,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of SolarEdge Technologies during the first quarter worth about $664,000. Hedge funds and other 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.