UBS Group Lowers Solaredge Technologies (NASDAQ:SEDG) to Neutral

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UBS Group lowered shares of Solaredge Technologies (NASDAQ:SEDG) from a buy rating to a neutral rating in a research report report published on Thursday, BenzingaRatingsTable reports. They currently have $90.00 target price on the semiconductor company’s stock, up from their prior target price of $73.00.

SEDG has been the subject of several other reports. Canaccord Genuity boosted their price objective on shares of Solaredge Technologies from $62.00 to $68.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. ValuEngine raised shares of Solaredge Technologies from a hold rating to a buy rating in a research note on Friday, May 24th. BidaskClub raised shares of Solaredge Technologies from a hold rating to a buy rating in a research note on Saturday, August 3rd. Roth Capital boosted their price objective 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, Northland Securities reissued a buy rating and set a $88.00 price objective on shares of Solaredge Technologies in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $75.86.

SEDG stock opened at $80.90 on Thursday. The stock has a market capitalization of $3.94 billion, a P/E ratio of 35.67, a PEG ratio of 1.25 and a beta of 0.15. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.98 and a current ratio of 2.49. Solaredge Technologies has a one year low of $32.42 and a one year high of $89.43. The company has a 50 day moving average price of $70.13 and a two-hundred day moving average price of $53.03.

Solaredge Technologies (NASDAQ:SEDG) last released its earnings results on Tuesday, August 6th. The semiconductor company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.01. The firm had revenue of $325.00 million during the quarter, compared to analysts’ expectations of $315.53 million. Solaredge Technologies had a net margin of 10.09% and a return on equity of 17.81%. Solaredge Technologies’s revenue for the quarter was up 43.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 EPS. Research analysts forecast that Solaredge Technologies will post 2.99 earnings per share for the current fiscal year.

In related news, Director More Avery sold 5,000 shares of Solaredge Technologies stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $55.10, for a total transaction of $275,500.00. Following the transaction, the director now owns 588,291 shares in the company, valued at approximately $32,414,834.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Doron Inbar sold 20,000 shares of Solaredge Technologies stock in a transaction on Monday, August 12th. The shares were sold at an average price of $86.80, for a total transaction of $1,736,000.00. Following the transaction, the director now owns 45,712 shares in the company, valued at approximately $3,967,801.60. The disclosure for this sale can be found here. Insiders have sold a total of 172,809 shares of company stock worth $14,470,796 in the last 90 days. Company insiders own 7.90% of the company’s stock.

Several large investors have recently bought and sold shares of SEDG. Swedbank acquired a new position in shares of Solaredge Technologies during the 2nd quarter valued at $124,959,000. Invesco Ltd. lifted its holdings in shares of Solaredge Technologies by 210.8% during the 2nd 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 in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Solaredge Technologies by 68,329.3% during the 2nd 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 in the last quarter. Norges Bank acquired a new position in shares of Solaredge Technologies during the 4th quarter valued at $13,951,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Solaredge Technologies by 10,941.9% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 81.02% 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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