Solaredge Technologies (SEDG) Price Target Raised to $70.00

Solaredge Technologies (NASDAQ:SEDG) had its price objective hoisted by investment analysts at Roth Capital from $50.00 to $70.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s target price points to a potential upside of 59.53% from the company’s current price.

A number of other equities analysts also recently weighed in on the company. BidaskClub upgraded Solaredge Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. Cascend Securities upgraded Solaredge Technologies from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Thursday, January 31st. JMP Securities downgraded Solaredge Technologies from a “market perform” rating to an “underperform” rating and set a $31.00 target price on the stock. in a report on Thursday, January 17th. They noted that the move was a valuation call. ValuEngine upgraded Solaredge Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, Zacks Investment Research upgraded Solaredge Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. Solaredge Technologies has an average rating of “Buy” and an average price target of $57.73.

Shares of SEDG opened at $43.88 on Tuesday. The stock has a market capitalization of $2.12 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 0.80 and a beta of 0.26. Solaredge Technologies has a fifty-two week low of $32.42 and a fifty-two week high of $70.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.38 and a current ratio of 3.00.

Solaredge Technologies (NASDAQ:SEDG) last issued its earnings results on Monday, May 6th. The semiconductor company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.11. The company had revenue of $271.90 million for the quarter, compared to the consensus estimate of $266.11 million. Solaredge Technologies had a return on equity of 25.33% and a net margin of 13.75%. The firm’s quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. On average, sell-side analysts expect that Solaredge Technologies will post 2.54 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in SEDG. Oregon Public Employees Retirement Fund bought a new stake in shares of Solaredge Technologies in the 4th quarter valued at approximately $130,000. Norges Bank bought a new stake in shares of Solaredge Technologies in the 4th quarter valued at approximately $13,951,000. Vanguard Group Inc grew its stake in shares of Solaredge Technologies by 21.1% in the 3rd quarter. Vanguard Group Inc now owns 1,910,830 shares of the semiconductor company’s stock valued at $71,943,000 after buying an additional 332,393 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Solaredge Technologies by 21.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,910,830 shares of the semiconductor company’s stock valued at $71,943,000 after buying an additional 332,393 shares in the last quarter. Finally, Noked Capital LTD bought a new stake in shares of Solaredge Technologies in the 4th quarter valued at approximately $8,431,000. 81.54% of the stock is owned by institutional investors and hedge funds.

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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