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

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

A number of other equities research analysts have also weighed in on the stock. UBS Group boosted 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 upped their price objective for the company from $11.00 to $18.00 in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. BMO Capital Markets lowered shares of SolarEdge Technologies from a “market perform” rating to an “underperform” rating and upped their price objective for the company from $13.00 to $15.00 in a research note on Thursday. Finally, Canaccord Genuity Group upped their price objective on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Thursday. Ten equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.65.

SolarEdge Technologies Trading Down 3.1 %

SEDG opened at $17.62 on Friday. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $78.40. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -0.56 and a beta of 1.56. The company’s 50 day moving average price is $14.59 and its two-hundred day moving average price is $17.20.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of SolarEdge Technologies by 14.9% during the fourth 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 in the last quarter. Invesco Ltd. lifted its position in shares of SolarEdge Technologies by 5.0% during the fourth 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 in the last quarter. Point72 Asset Management L.P. bought a new position in shares of SolarEdge Technologies during the fourth quarter valued at about $17,909,000. Legal & General Group Plc lifted its position in shares of SolarEdge Technologies by 67.6% during the fourth 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 in the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of SolarEdge Technologies by 1.3% during the fourth 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 in 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.