Solaredge Technologies Inc (NASDAQ:SEDG) Given Average Rating of “Buy” by Analysts

Solaredge Technologies Inc (NASDAQ:SEDG) has been given an average rating of “Buy” by the fifteen analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $84.80.

A number of research analysts have recently weighed in on the stock. Credit Suisse Group increased their target price on shares of Solaredge Technologies from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. TheStreet upgraded shares of Solaredge Technologies from a “c+” rating to a “b-” rating in a research note on Wednesday, August 7th. Cowen set a $85.00 price target on shares of Solaredge Technologies and gave the company a “buy” rating in a research note on Wednesday, August 7th. Roth Capital upped their price target on shares of Solaredge Technologies from $70.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Solaredge Technologies from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th.

Shares of Solaredge Technologies stock traded up $0.92 on Thursday, reaching $78.20. 67,896 shares of the company traded hands, compared to its average volume of 1,996,117. Solaredge Technologies has a 52 week low of $32.42 and a 52 week high of $96.69. The company has a 50 day moving average of $85.25 and a 200 day moving average of $70.14. The firm has a market capitalization of $3.89 billion, a PE ratio of 29.18, a PEG ratio of 1.20 and a beta of 0.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.49 and a quick ratio of 2.09.

Solaredge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, November 6th. The semiconductor company reported $1.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.22. Solaredge Technologies had a net margin of 8.39% and a return on equity of 15.89%. The firm had revenue of $410.56 million during the quarter, compared to the consensus estimate of $402.89 million. During the same period in the prior year, the firm earned $0.86 EPS. The company’s revenue was up 73.5% compared to the same quarter last year. As a group, analysts anticipate that Solaredge Technologies will post 3.06 earnings per share for the current year.

In other Solaredge Technologies news, VP Yoav Galin sold 97,500 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $84.22, for a total value of $8,211,450.00. Following the sale, the vice president now directly owns 59,030 shares in the company, valued at approximately $4,971,506.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Zvi Lando sold 28,604 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $83.81, for a total transaction of $2,397,301.24. Following the completion of the sale, the vice president now owns 95,500 shares in the company, valued at $8,003,855. The disclosure for this sale can be found here. Insiders sold a total of 250,203 shares of company stock worth $20,802,997 over the last quarter. Corporate insiders own 7.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. New York State Teachers Retirement System lifted its stake in Solaredge Technologies by 0.4% in the 2nd quarter. New York State Teachers Retirement System now owns 46,988 shares of the semiconductor company’s stock worth $2,935,000 after purchasing an additional 200 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Solaredge Technologies by 1.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 15,196 shares of the semiconductor company’s stock valued at $949,000 after buying an additional 228 shares in the last quarter. Cascade Investment Advisors Inc. raised its position in shares of Solaredge Technologies by 1.1% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 25,110 shares of the semiconductor company’s stock valued at $1,568,000 after buying an additional 275 shares in the last quarter. Winslow Evans & Crocker Inc. raised its position in shares of Solaredge Technologies by 376.7% during the 3rd quarter. Winslow Evans & Crocker Inc. now owns 410 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 324 shares in the last quarter. Finally, Capital Investment Advisory Services LLC purchased a new stake in shares of Solaredge Technologies during the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 79.12% of the company’s stock.

Solaredge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.

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Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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