Several other research firms also recently commented on SEDG. JPMorgan Chase & Co. lifted their price objective on Solaredge Technologies from $53.00 to $63.00 and gave the stock an overweight rating in a report on Tuesday, May 7th. BidaskClub upgraded Solaredge Technologies from a buy rating to a strong-buy rating in a report on Friday, April 26th. Zacks Investment Research downgraded Solaredge Technologies from a strong-buy rating to a hold rating in a research note on Saturday, May 11th. Credit Suisse Group initiated coverage on Solaredge Technologies in a research note on Monday, March 25th. They set a neutral rating and a $43.00 price target for the company. Finally, JMP Securities upgraded Solaredge Technologies from an underperform rating to an outperform rating and boosted their price target for the company from $31.00 to $60.00 in a research note on Tuesday, May 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Solaredge Technologies currently has a consensus rating of Buy and an average price target of $55.33.
NASDAQ SEDG opened at $53.61 on Friday. Solaredge Technologies has a one year low of $32.42 and a one year high of $61.00. The stock has a market capitalization of $2.55 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 0.96 and a beta of 0.26. The company has a quick ratio of 2.28, a current ratio of 2.89 and a debt-to-equity ratio of 0.05.
Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.14). Solaredge Technologies had a return on equity of 19.57% and a net margin of 11.23%. The business had revenue of $271.90 million during the quarter, compared to the consensus estimate of $266.11 million. During the same quarter in the previous year, the business posted $0.87 earnings per share. Solaredge Technologies’s quarterly revenue was up 29.5% compared to the same quarter last year. On average, sell-side analysts expect that Solaredge Technologies will post 2.6 EPS for the current year.
In other Solaredge Technologies news, Director More Avery sold 4,130 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $51.04, for a total transaction of $210,795.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 9.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its position in shares of Solaredge Technologies by 58.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 13,550 shares of the semiconductor company’s stock valued at $511,000 after buying an additional 5,012 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Solaredge Technologies by 98.0% during the 4th quarter. Handelsbanken Fonder AB now owns 373,659 shares of the semiconductor company’s stock valued at $13,115,000 after buying an additional 184,973 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of Solaredge Technologies during the 4th quarter valued at about $223,000. State of Alaska Department of Revenue lifted its position in shares of Solaredge Technologies by 3.8% during the 4th quarter. State of Alaska Department of Revenue now owns 14,378 shares of the semiconductor company’s stock valued at $504,000 after buying an additional 530 shares in the last quarter. Finally, Prudential PLC purchased a new position in shares of Solaredge Technologies during the 4th quarter valued at about $1,011,000. Institutional investors and hedge funds own 81.62% 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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