Northland Securities reaffirmed their buy rating on shares of Solaredge Technologies (NASDAQ:SEDG) in a research report sent to investors on Thursday, AnalystRatings.com reports.
A number of other analysts also recently issued reports on the stock. Roth Capital lifted their price target on shares of Solaredge Technologies from $70.00 to $105.00 and gave the company a buy rating in a report on Wednesday, August 7th. JMP Securities lifted their price target on shares of Solaredge Technologies to $90.00 and gave the company an outperform rating in a report on Wednesday, August 7th. TheStreet upgraded shares of Solaredge Technologies from a c+ rating to a b- rating in a report on Wednesday, August 7th. UBS Group downgraded shares of Solaredge Technologies from a buy rating to a neutral rating and lifted their price target for the company from $73.00 to $90.00 in a report on Thursday, August 22nd. Finally, Cowen set a $85.00 price target on shares of Solaredge Technologies and gave the company a buy rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $85.75.
SEDG stock traded down $1.95 on Thursday, hitting $77.95. The company had a trading volume of 1,466,800 shares, compared to its average volume of 899,116. The company has a current ratio of 2.49, a quick ratio of 1.98 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 28.98, a P/E/G ratio of 1.27 and a beta of 0.05. The stock’s 50-day simple moving average is $86.12 and its 200 day simple moving average is $69.45. Solaredge Technologies has a 12-month low of $32.42 and a 12-month high of $96.69.
Solaredge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.22. The company had revenue of $410.56 million for the quarter, compared to the consensus estimate of $402.89 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 73.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 EPS. Research analysts forecast that Solaredge Technologies will post 2.99 earnings per share for the current year.
In other 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 value of $8,211,450.00. Following the sale, the vice president now directly owns 59,030 shares in the company, valued at approximately $4,971,506.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Zvi Lando sold 28,604 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $83.81, for a total transaction of $2,397,301.24. Following the completion of the sale, the vice president now owns 95,500 shares in the company, valued at $8,003,855. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 270,203 shares of company stock worth $22,538,997. Insiders own 7.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Arlington Capital Management Inc. bought a new stake in shares of Solaredge Technologies in the 3rd quarter worth about $929,000. Tiedemann Advisors LLC increased its holdings in shares of Solaredge Technologies by 879.9% in the 3rd quarter. Tiedemann Advisors LLC now owns 35,100 shares of the semiconductor company’s stock worth $2,939,000 after buying an additional 31,518 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Solaredge Technologies by 9.5% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,123,792 shares of the semiconductor company’s stock worth $94,084,000 after buying an additional 97,353 shares during the last quarter. Mason Street Advisors LLC increased its holdings in shares of Solaredge Technologies by 9.3% in the 3rd quarter. Mason Street Advisors LLC now owns 16,289 shares of the semiconductor company’s stock worth $1,364,000 after buying an additional 1,385 shares during the last quarter. Finally, Alps Advisors Inc. bought a new stake in shares of Solaredge Technologies in the 3rd quarter worth about $810,000. Hedge funds and other institutional investors own 81.44% 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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