Mizuho Cuts SolarEdge Technologies (NASDAQ:SEDG) Price Target to $35.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target decreased by Mizuho from $40.00 to $35.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s target price would indicate a potential upside of 61.36% from the stock’s previous close.

Several other research firms have also recently weighed in on SEDG. Scotiabank lowered their price target on shares of SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada dropped their target price on SolarEdge Technologies from $37.00 to $35.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. TD Cowen decreased their price target on shares of SolarEdge Technologies from $50.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Susquehanna dropped their price objective on shares of SolarEdge Technologies from $36.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Five investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $49.35.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $21.69 on Thursday. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32. The company’s fifty day simple moving average is $24.54 and its 200 day simple moving average is $43.02. SolarEdge Technologies has a 1-year low of $17.12 and a 1-year high of $141.70. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -4.66 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). The business had revenue of $265.41 million for the quarter, compared to analyst estimates of $264.31 million. SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. SolarEdge Technologies’s quarterly revenue was down 73.2% compared to the same quarter last year. During the same period last year, the firm earned $2.06 EPS. On average, research analysts forecast that SolarEdge Technologies will post -8.67 earnings per share for the current fiscal year.

Institutional Trading of SolarEdge Technologies

Large investors have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in SolarEdge Technologies in the second quarter worth approximately $28,000. GAMMA Investing LLC grew its position in SolarEdge Technologies by 90.0% in the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 289 shares during the period. Versant Capital Management Inc grew its position in SolarEdge Technologies by 1,066.7% in the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 640 shares during the period. EntryPoint Capital LLC bought a new stake in SolarEdge Technologies during the 1st quarter valued at $64,000. Finally, Hexagon Capital Partners LLC lifted its stake in shares of SolarEdge Technologies by 120.8% in the first quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock valued at $79,000 after buying an additional 610 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.