Shares of Solaredge Technologies Inc (NASDAQ:SEDG) have been given a consensus rating of “Buy” by the fifteen brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $84.80.
A number of brokerages have issued reports on SEDG. JMP Securities upped their target price on Solaredge Technologies to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Canaccord Genuity upped their price target on Solaredge Technologies from $78.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Cowen set a $85.00 price target on Solaredge Technologies and gave the company a “buy” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on Solaredge Technologies from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Zacks Investment Research lowered Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 9th.
SEDG traded up $0.72 during trading on Thursday, hitting $78.96. The stock had a trading volume of 822,200 shares, compared to its average volume of 1,543,511. Solaredge Technologies has a one year low of $32.42 and a one year high of $96.69. The company has a 50 day moving average price of $84.91 and a 200-day moving average price of $70.47. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.49 and a quick ratio of 2.09. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 29.35, a P/E/G ratio of 1.16 and a beta of 0.05.
Solaredge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, November 6th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.22. Solaredge Technologies had a return on equity of 15.89% and a net margin of 8.39%. The business had revenue of $410.56 million during the quarter, compared to analysts’ expectations of $402.89 million. During the same quarter in the prior year, the firm earned $0.86 EPS. The business’s revenue for the quarter was up 73.5% compared to the same quarter last year. As a group, sell-side analysts predict that Solaredge Technologies will post 3.06 EPS for the current fiscal year.
In related news, CEO Zvi Lando sold 28,604 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $81.93, for a total transaction of $2,343,525.72. Following the sale, the chief executive officer now owns 84,375 shares in the company, valued at approximately $6,912,843.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director More Avery sold 14,891 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $81.14, for a total value of $1,208,255.74. Following the sale, the director now owns 585,611 shares in the company, valued at approximately $47,516,476.54. The disclosure for this sale can be found here. Insiders sold a total of 250,203 shares of company stock worth $20,802,997 in the last quarter. Corporate insiders own 7.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in SEDG. Winslow Evans & Crocker Inc. raised its stake in Solaredge Technologies by 376.7% during the 3rd quarter. Winslow Evans & Crocker Inc. now owns 410 shares of the semiconductor company’s stock worth $36,000 after buying an additional 324 shares during the period. Capital Investment Advisory Services LLC acquired a new position in Solaredge Technologies during the 3rd quarter worth approximately $38,000. Pathstone Family Office LLC acquired a new position in Solaredge Technologies during the 2nd quarter worth approximately $31,000. Gradient Investments LLC acquired a new position in Solaredge Technologies during the 3rd quarter worth approximately $42,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in Solaredge Technologies during the 2nd quarter worth approximately $32,000. Institutional investors own 79.12% 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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