Shares of Solaredge Technologies Inc (NASDAQ:SEDG) have earned an average recommendation of “Buy” from the eleven research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $54.75.
SEDG has been the subject of a number of research reports. Cascend Securities upgraded Solaredge Technologies from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Thursday, January 31st. BidaskClub upgraded Solaredge Technologies from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Roth Capital raised their price objective on Solaredge Technologies from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. ValuEngine upgraded Solaredge Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, Credit Suisse Group increased their target price on Solaredge Technologies from $43.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th.
In other Solaredge Technologies news, Director More Avery sold 4,130 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $51.04, for a total transaction of $210,795.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.70% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its holdings in Solaredge Technologies by 58.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 13,550 shares of the semiconductor company’s stock worth $511,000 after buying an additional 5,012 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Solaredge Technologies by 98.0% during the 4th quarter. Handelsbanken Fonder AB now owns 373,659 shares of the semiconductor company’s stock worth $13,115,000 after buying an additional 184,973 shares during the last quarter. Xact Kapitalforvaltning AB bought a new position in Solaredge Technologies during the 4th quarter worth approximately $223,000. State of Alaska Department of Revenue lifted its holdings in 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 worth $504,000 after buying an additional 530 shares during the last quarter. Finally, Prudential PLC bought a new position in Solaredge Technologies during the 4th quarter worth approximately $1,011,000. 81.62% of the stock is currently owned by institutional investors.
Shares of SEDG stock traded down $1.85 during mid-day trading on Thursday, hitting $53.11. 7,912 shares of the stock traded hands, compared to its average volume of 1,022,914. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 0.96 and a beta of 0.26. Solaredge Technologies has a 52-week low of $32.42 and a 52-week high of $66.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.28 and a current ratio of 2.89.
Solaredge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.14). The company had revenue of $271.90 million during the quarter, compared to analysts’ expectations of $266.11 million. Solaredge Technologies had a net margin of 11.23% and a return on equity of 19.57%. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 earnings per share. As a group, equities analysts predict that Solaredge Technologies will post 2.6 earnings per share for the current fiscal year.
About Solaredge Technologies
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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