SolarEdge Technologies, Inc. (NASDAQ:SEDG) VP Zvi Lando sold 10,000 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $30.36, for a total transaction of $303,600.00. Following the transaction, the vice president now directly owns 48,333 shares of the company’s stock, valued at approximately $1,467,389.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) traded up 4.05% during mid-day trading on Friday, reaching $32.15. 713,600 shares of the company traded hands. The company has a market capitalization of $1.35 billion, a P/E ratio of 28.50 and a beta of 0.03. The stock’s 50-day moving average is $28.53 and its 200-day moving average is $28.53. SolarEdge Technologies, Inc. has a 52 week low of $11.35 and a 52 week high of $32.33.
SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.18. SolarEdge Technologies had a return on equity of 21.01% and a net margin of 12.64%. The company had revenue of $136.10 million during the quarter, compared to analysts’ expectations of $125.07 million. During the same period in the prior year, the business earned $0.44 earnings per share. SolarEdge Technologies’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts predict that SolarEdge Technologies, Inc. will post $1.85 EPS for the current fiscal year.
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SEDG has been the topic of a number of research reports. ValuEngine raised shares of SolarEdge Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Canaccord Genuity reissued a “buy” rating and set a $25.00 price objective (up from $19.00) on shares of SolarEdge Technologies in a report on Friday, July 28th. Roth Capital upgraded shares of SolarEdge Technologies from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Thursday, July 27th. Cowen and Company restated a “buy” rating and issued a $24.00 target price on shares of SolarEdge Technologies in a research note on Friday, July 14th. Finally, Needham & Company LLC raised their target price on shares of SolarEdge Technologies from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. SolarEdge Technologies has a consensus rating of “Buy” and a consensus price target of $25.38.
A number of hedge funds have recently modified their holdings of SEDG. Bank of New York Mellon Corp lifted its position in SolarEdge Technologies by 601.2% in the second quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock worth $30,539,000 after purchasing an additional 1,309,184 shares during the period. Ion Asset Management Ltd. bought a new position in SolarEdge Technologies in the second quarter valued at about $20,180,000. Janus Henderson Group PLC boosted its holdings in SolarEdge Technologies by 435.7% in the second quarter. Janus Henderson Group PLC now owns 946,920 shares of the semiconductor company’s stock valued at $18,932,000 after acquiring an additional 770,166 shares during the last quarter. NN Investment Partners Holdings N.V. boosted its holdings in SolarEdge Technologies by 21.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,736,541 shares of the semiconductor company’s stock valued at $34,731,000 after acquiring an additional 305,179 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. boosted its holdings in SolarEdge Technologies by 26.2% in the second quarter. Menora Mivtachim Holdings LTD. now owns 1,444,013 shares of the semiconductor company’s stock valued at $28,880,000 after acquiring an additional 300,000 shares during the last quarter. 57.94% of the stock is owned by hedge funds and other institutional investors.
SolarEdge Technologies Company Profile
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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