Shares of Solaredge Technologies Inc (NASDAQ:SEDG) saw unusually-high trading volume on Friday after Credit Suisse Group raised their price target on the stock from $70.00 to $80.00. Credit Suisse Group currently has a neutral rating on the stock. Approximately 673,994 shares traded hands during trading, a decline of 43% from the previous session’s volume of 1,172,286 shares.The stock last traded at $88.39 and had previously closed at $89.42.
A number of other brokerages have also weighed in on SEDG. Cowen set a $85.00 target price on shares of Solaredge Technologies and gave the company a “buy” rating in a research note on Wednesday, August 7th. Zacks Investment Research raised shares of Solaredge Technologies from a “hold” rating to a “strong-buy” rating and set a $93.00 target price on the stock in a research note on Saturday, August 10th. Northland Securities set a $88.00 target price on shares of Solaredge Technologies and gave the company a “buy” rating in a research note on Sunday, September 15th. Oppenheimer lifted their target price on shares of Solaredge Technologies from $66.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, TheStreet raised shares of Solaredge Technologies from a “c+” rating to a “b-” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Solaredge Technologies has a consensus rating of “Buy” and a consensus price target of $78.07.
In related news, VP Yoav Galin sold 97,500 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $84.22, for a total transaction of $8,211,450.00. Following the sale, the vice president now owns 59,030 shares of the company’s stock, valued at $4,971,506.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Zvi Lando sold 28,604 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.55, for a total transaction of $2,246,844.20. Following the sale, the vice president now directly owns 101,313 shares in the company, valued at approximately $7,958,136.15. The disclosure for this sale can be found here. Insiders have sold 241,599 shares of company stock worth $20,141,696 in the last three months. 7.90% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Solaredge Technologies by 2.8% during the second quarter. BlackRock Inc. now owns 4,840,757 shares of the semiconductor company’s stock worth $302,353,000 after acquiring an additional 131,352 shares in the last quarter. Invesco Ltd. boosted its stake in Solaredge Technologies by 210.8% during the second quarter. Invesco Ltd. now owns 2,803,823 shares of the semiconductor company’s stock worth $175,126,000 after acquiring an additional 1,901,658 shares in the last quarter. Swedbank bought a new stake in Solaredge Technologies during the second quarter worth about $124,959,000. Vanguard Group Inc. boosted its stake in Solaredge Technologies by 2.8% during the second quarter. Vanguard Group Inc. now owns 1,687,176 shares of the semiconductor company’s stock worth $105,382,000 after acquiring an additional 45,993 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd boosted its stake in Solaredge Technologies by 24.2% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,679,446 shares of the semiconductor company’s stock worth $63,282,000 after acquiring an additional 326,831 shares in the last quarter. 80.44% of the stock is currently owned by institutional investors and hedge funds.
The company has a debt-to-equity ratio of 0.05, a current ratio of 2.49 and a quick ratio of 1.98. The firm’s 50 day moving average is $79.17 and its 200 day moving average is $57.88. The firm has a market cap of $3.98 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 1.26 and a beta of 0.06.
Solaredge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Solaredge Technologies had a net margin of 10.09% and a return on equity of 17.81%. The business had revenue of $325.00 million for the quarter, compared to analyst estimates of $315.53 million. During the same quarter in the previous year, the firm posted $0.82 earnings per share. Solaredge Technologies’s quarterly revenue was up 43.1% on a year-over-year basis. As a group, analysts expect that Solaredge Technologies Inc will post 2.99 EPS for the current year.
Solaredge Technologies Company Profile (NASDAQ:SEDG)
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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