Roth Mkm Increases SolarEdge Technologies (NASDAQ:SEDG) Price Target to $20.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective lifted by Roth Mkm from $17.00 to $20.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Roth Mkm’s price objective points to a potential upside of 13.51% from the company’s previous close.

Several other analysts also recently commented on the stock. Susquehanna lifted their target price on shares of SolarEdge Technologies from $13.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday. UBS Group lifted their target price on shares of SolarEdge Technologies from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday. Morgan Stanley raised shares of SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $11.00 to $18.00 in a report on Thursday. Northland Securities downgraded shares of SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 target price for the company. in a report on Thursday. Finally, JPMorgan Chase & Co. reduced their target price on shares of SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Ten investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.65.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $17.62 on Friday. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -0.56 and a beta of 1.56. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. The company has a 50-day simple moving average of $14.59 and a 200 day simple moving average of $17.20. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $78.40.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of SolarEdge Technologies by 14.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock valued at $67,370,000 after purchasing an additional 641,915 shares during the last quarter. Invesco Ltd. grew its holdings in shares of SolarEdge Technologies by 5.0% during the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company’s stock valued at $33,254,000 after purchasing an additional 116,809 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of SolarEdge Technologies during the 4th quarter valued at approximately $17,909,000. Legal & General Group Plc grew its holdings in shares of SolarEdge Technologies by 67.6% during the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock valued at $17,262,000 after purchasing an additional 512,035 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of SolarEdge Technologies by 1.3% during the 4th quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company’s stock valued at $17,060,000 after purchasing an additional 16,258 shares during the last quarter. 95.10% of the stock is owned by institutional investors.

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.