BidaskClub upgraded shares of Solaredge Technologies (NASDAQ:SEDG) from a buy rating to a strong-buy rating in a research note released on Thursday morning.
SEDG has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price target on Solaredge Technologies from $43.00 to $52.00 and gave the company an overweight rating in a report on Thursday, February 15th. Needham & Company LLC lifted their price target on Solaredge Technologies from $42.00 to $55.00 and gave the company a buy rating in a report on Thursday, February 15th. Canaccord Genuity lifted their price target on Solaredge Technologies from $50.00 to $55.00 and gave the company a buy rating in a report on Monday, February 26th. Deutsche Bank downgraded Solaredge Technologies from a buy rating to a hold rating and set a $40.00 price target on the stock. in a report on Monday, November 27th. Finally, Oppenheimer lifted their price target on Solaredge Technologies from $38.00 to $50.00 and gave the company an outperform rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $44.54.
Solaredge Technologies (NASDAQ:SEDG) opened at $54.45 on Thursday. Solaredge Technologies has a fifty-two week low of $13.50 and a fifty-two week high of $55.75. The stock has a market capitalization of $2,389.86, a price-to-earnings ratio of 24.42, a PEG ratio of 0.93 and a beta of -0.56.
Solaredge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.29. Solaredge Technologies had a return on equity of 29.21% and a net margin of 13.87%. The business had revenue of $189.34 million for the quarter, compared to the consensus estimate of $179.78 million. analysts expect that Solaredge Technologies will post 2.45 EPS for the current year.
In other Solaredge Technologies news, CFO Ronen Faier sold 36,868 shares of Solaredge Technologies stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $44.30, for a total transaction of $1,633,252.40. Following the completion of the sale, the chief financial officer now owns 28,634 shares of the company’s stock, valued at approximately $1,268,486.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Guy Sella sold 216,666 shares of Solaredge Technologies stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $42.15, for a total value of $9,132,471.90. Following the sale, the chief executive officer now directly owns 73,333 shares of the company’s stock, valued at approximately $3,090,985.95. The disclosure for this sale can be found here. Insiders sold a total of 385,566 shares of company stock valued at $16,435,783 in the last three months. Insiders own 16.40% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN lifted its position in Solaredge Technologies by 19.5% during the 3rd quarter. Wells Fargo & Company MN now owns 10,291 shares of the semiconductor company’s stock worth $294,000 after acquiring an additional 1,680 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new stake in Solaredge Technologies during the 4th quarter worth about $102,000. First Trust Advisors LP lifted its position in Solaredge Technologies by 3.5% during the 4th quarter. First Trust Advisors LP now owns 82,852 shares of the semiconductor company’s stock worth $3,111,000 after acquiring an additional 2,772 shares during the period. Meadow Creek Investment Management LLC acquired a new stake in Solaredge Technologies during the 4th quarter worth about $109,000. Finally, Northern Trust Corp lifted its position in Solaredge Technologies by 3.3% during the 2nd quarter. Northern Trust Corp now owns 102,236 shares of the semiconductor company’s stock worth $2,046,000 after acquiring an additional 3,297 shares during the period. 65.65% of the stock is owned by institutional investors.
Solaredge Technologies Company Profile
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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