Mizuho Forecasts Strong Price Appreciation for SolarEdge Technologies (NASDAQ:SEDG) Stock

SolarEdge Technologies (NASDAQ:SEDG) had its price objective increased by equities researchers at Mizuho from $15.00 to $18.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Mizuho’s price target indicates a potential downside of 0.69% from the company’s previous close.

SEDG has been the subject of a number of other research reports. Guggenheim reissued a “sell” rating and set a $5.00 target price on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Northland Capmk upgraded SolarEdge Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, May 23rd. JPMorgan Chase & Co. dropped their target price on shares of SolarEdge Technologies from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. Jefferies Financial Group lowered their target price on SolarEdge Technologies from $12.00 to $9.00 and set an “underperform” rating on the stock in a report on Tuesday, April 15th. Finally, Susquehanna reduced their price target on shares of SolarEdge Technologies from $17.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Ten research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.84.

SolarEdge Technologies Stock Up 9.2%

Shares of SEDG stock opened at $18.13 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. SolarEdge Technologies has a twelve month low of $10.24 and a twelve month high of $50.83. The stock has a 50 day moving average of $15.29 and a 200 day moving average of $14.96. The stock has a market cap of $1.07 billion, a P/E ratio of -0.57 and a beta of 1.50.

SolarEdge Technologies (NASDAQ:SEDG) last posted its 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 for the quarter, compared to analysts’ expectations of $205.39 million. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm earned ($1.90) EPS. As a group, sell-side analysts expect that SolarEdge Technologies will post -4.54 EPS for the current year.

Insider Buying and Selling at SolarEdge Technologies

In related news, Chairman More Avery acquired 30,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $13.70 per share, with a total value of $411,000.00. Following the purchase, the chairman now directly owns 274,478 shares in the company, valued at $3,760,348.60. The trade was a 12.27% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.67% of the stock is owned by insiders.

Institutional Trading of SolarEdge Technologies

A number of institutional investors have recently modified their holdings of SEDG. Fifth Third Bancorp raised its holdings in shares of 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 buying an additional 790 shares during the period. Edmond DE Rothschild Holding S.A. boosted its stake in shares of SolarEdge Technologies by 60.0% in the first 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 during the period. Millstone Evans Group LLC acquired a new stake in SolarEdge Technologies during the 4th quarter valued at $27,000. Jones Financial Companies Lllp increased 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 worth $33,000 after buying an additional 1,954 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in SolarEdge Technologies in the 1st quarter worth $35,000. 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.