SolarEdge Technologies (NASDAQ:SEDG) Sets New 52-Week High After Analyst Upgrade

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) reached a new 52-week high during trading on Friday after Jefferies Financial Group upgraded the stock from an underperform rating to a hold rating. Jefferies Financial Group now has a $49.00 price target on the stock, up from their previous price target of $30.00. SolarEdge Technologies traded as high as $51.00 and last traded at $49.8520, with a volume of 853789 shares traded. The stock had previously closed at $45.66.

A number of other research analysts have also recently commented on the stock. Bank of America raised shares of SolarEdge Technologies from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $17.00 to $40.00 in a research report on Tuesday, March 10th. Raymond James Financial assumed coverage on shares of SolarEdge Technologies in a research note on Tuesday, January 13th. They set a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of SolarEdge Technologies from $35.00 to $33.00 and set a “hold” rating on the stock in a report on Friday, February 20th. Barclays upped their price objective on shares of SolarEdge Technologies from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, January 15th. Finally, UBS Group lowered their target price on SolarEdge Technologies from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, March 2nd. One analyst has rated the stock with a Buy rating, eighteen have issued a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $29.09.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds and other institutional investors have recently modified their holdings of SEDG. Public Sector Pension Investment Board raised its position in shares of SolarEdge Technologies by 15.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 231,604 shares of the semiconductor company’s stock worth $8,569,000 after purchasing an additional 30,264 shares during the period. Convergence Investment Partners LLC acquired a new position in SolarEdge Technologies during the 3rd quarter valued at approximately $3,033,000. SG Americas Securities LLC boosted its position in SolarEdge Technologies by 59.7% during the 3rd quarter. SG Americas Securities LLC now owns 103,033 shares of the semiconductor company’s stock valued at $3,812,000 after purchasing an additional 38,511 shares during the period. Aquatic Capital Management LLC grew its stake in SolarEdge Technologies by 1,282.8% during the 3rd quarter. Aquatic Capital Management LLC now owns 125,473 shares of the semiconductor company’s stock worth $4,643,000 after buying an additional 116,399 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. increased its position in SolarEdge Technologies by 213.4% in the second quarter. Menora Mivtachim Holdings LTD. now owns 1,490,637 shares of the semiconductor company’s stock worth $30,409,000 after buying an additional 1,015,017 shares during the period. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Price Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 2.17 and a quick ratio of 1.48. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of -7.29 and a beta of 1.62. The company has a 50-day simple moving average of $36.23 and a two-hundred day simple moving average of $35.02.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, February 18th. The semiconductor company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.05. SolarEdge Technologies had a negative net margin of 34.23% and a negative return on equity of 45.54%. The company had revenue of $333.80 million during the quarter, compared to the consensus estimate of $330.33 million. During the same quarter in the previous year, the company posted ($3.52) earnings per share. The company’s revenue for the quarter was up 70.9% compared to the same quarter last year. On average, equities research analysts predict that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current year.

About SolarEdge Technologies

SolarEdge Technologies (NASDAQ: SEDG) is a global provider of solar energy solutions focused on optimizing photovoltaic (PV) power generation. The company’s core offerings include power optimizers, inverters and cloud-based monitoring platforms designed to maximize energy output and improve safety across residential, commercial and utility-scale installations. By coupling module-level electronics with centralized inverters, SolarEdge’s technology enables real-time performance monitoring and rapid fault detection to enhance system reliability.

In recent years, SolarEdge has expanded its product portfolio beyond solar PV to include energy storage systems, electric vehicle (EV) charging solutions and smart energy management tools.