Solaredge Technologies (NASDAQ:SEDG)‘s stock had its “buy” rating reissued by Northland Securities in a research note issued to investors on Thursday, AnalystRatings.com reports.
Other analysts also recently issued reports about the company. Roth Capital increased their target price on Solaredge Technologies from $70.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. ValuEngine downgraded Solaredge Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub downgraded Solaredge Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. UBS Group downgraded Solaredge Technologies from a “buy” rating to a “neutral” rating and increased their target price for the company from $73.00 to $90.00 in a research note on Thursday, August 22nd. Finally, Cowen set a $85.00 target price on Solaredge Technologies and gave the company a “buy” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Solaredge Technologies presently has a consensus rating of “Buy” and a consensus target price of $85.75.
SEDG traded down $1.95 during midday trading on Thursday, reaching $77.95. 1,466,800 shares of the company’s stock traded hands, compared to its average volume of 899,116. The firm has a fifty day moving average of $86.12 and a two-hundred day moving average of $69.45. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.49 and a quick ratio of 1.98. Solaredge Technologies has a 52 week low of $32.42 and a 52 week high of $96.69. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 28.98, a P/E/G ratio of 1.27 and a beta of 0.05.
Solaredge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, November 6th. The semiconductor company reported $1.21 EPS for the quarter, beating the consensus estimate of $0.99 by $0.22. Solaredge Technologies had a return on equity of 17.81% and a net margin of 10.09%. The business had revenue of $410.56 million for the quarter, compared to the consensus estimate of $402.89 million. During the same period last year, the business posted $0.86 EPS. The company’s revenue was up 73.5% compared to the same quarter last year. Sell-side analysts forecast that Solaredge Technologies will post 2.99 EPS for the current year.
In other news, VP Zvi Lando sold 28,604 shares of the stock in a transaction 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 transaction, the vice president now directly owns 95,500 shares of the company’s stock, valued at approximately $8,003,855. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director More Avery sold 2,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $82.06, for a total value of $164,120.00. Following the transaction, the director now directly owns 587,573 shares in the company, valued at $48,216,240.38. The disclosure for this sale can be found here. Insiders have sold a total of 270,203 shares of company stock worth $22,538,997 over the last three months. Insiders own 7.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SEDG. Swedbank bought a new position in shares of Solaredge Technologies during the 2nd quarter valued at $124,959,000. Invesco Ltd. raised its holdings in Solaredge Technologies by 210.8% during the second quarter. Invesco Ltd. now owns 2,803,823 shares of the semiconductor company’s stock valued at $175,126,000 after acquiring an additional 1,901,658 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Solaredge Technologies by 68,329.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,026,439 shares of the semiconductor company’s stock valued at $64,111,000 after acquiring an additional 1,024,939 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Solaredge Technologies by 10,941.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 391,547 shares of the semiconductor company’s stock valued at $24,456,000 after acquiring an additional 388,001 shares during the period. Finally, Morgan Stanley raised its holdings in Solaredge Technologies by 122.6% during the second quarter. Morgan Stanley now owns 519,044 shares of the semiconductor company’s stock valued at $32,419,000 after acquiring an additional 285,912 shares during the period. 81.44% of the stock is currently owned by hedge funds and other institutional investors.
About Solaredge Technologies
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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