Solaredge Technologies Inc (NASDAQ:SEDG) has received a consensus recommendation of “Buy” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $54.75.
SEDG has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Solaredge Technologies from $53.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. ValuEngine raised shares of Solaredge Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. BidaskClub raised shares of Solaredge Technologies from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 26th. Zacks Investment Research lowered shares of Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 11th. Finally, Credit Suisse Group initiated coverage on shares of Solaredge Technologies in a research report on Monday, March 25th. They set a “neutral” rating and a $43.00 target price on the stock.
In related news, Director More Avery sold 4,130 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were 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 SEC, which is available at the SEC website. Insiders own 9.70% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. AlphaOne Investment Services LLC acquired a new stake in Solaredge Technologies during the fourth quarter worth $31,000. Semmax Financial Advisors Inc. acquired a new stake in Solaredge Technologies during the fourth quarter worth $31,000. Trust Co. of Vermont boosted its stake in Solaredge Technologies by 86.0% during the first quarter. Trust Co. of Vermont now owns 941 shares of the semiconductor company’s stock worth $35,000 after buying an additional 435 shares in the last quarter. NumerixS Investment Technologies Inc boosted its stake in Solaredge Technologies by 44.4% during the first quarter. NumerixS Investment Technologies Inc now owns 2,600 shares of the semiconductor company’s stock worth $98,000 after buying an additional 800 shares in the last quarter. Finally, Buffington Mohr McNeal acquired a new stake in Solaredge Technologies during the first quarter worth $171,000. Hedge funds and other institutional investors own 82.19% of the company’s stock.
Shares of NASDAQ:SEDG traded up $0.64 during trading on Monday, reaching $57.13. The stock had a trading volume of 5,804 shares, compared to its average volume of 422,587. Solaredge Technologies has a 52 week low of $32.42 and a 52 week high of $58.30. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 0.99 and a beta of 0.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.89 and a quick ratio of 2.28. The firm’s fifty day moving average is $52.29.
Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.14). Solaredge Technologies had a net margin of 11.23% and a return on equity of 19.57%. The firm had revenue of $271.90 million during the quarter, compared to the consensus estimate of $266.11 million. During the same period in the prior year, the business earned $0.87 EPS. The company’s revenue for the quarter was up 29.5% compared to the same quarter last year. On average, equities analysts expect 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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