Solaredge Technologies (NASDAQ:SEDG) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.
Several other brokerages have also weighed in on SEDG. B. Riley raised Solaredge Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $18.00 to $45.00 in a report on Thursday, November 9th. Zacks Investment Research lowered Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 10th. Roth Capital set a $30.00 price objective on Solaredge Technologies and gave the stock a “buy” rating in a report on Sunday, October 15th. JPMorgan Chase & Co. lifted their price objective on Solaredge Technologies to $43.00 and gave the stock an “overweight” rating in a report on Thursday, November 9th. Finally, Vertical Group began coverage on Solaredge Technologies in a report on Thursday, January 11th. They set a “sell” rating for the company. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $34.19.
Shares of Solaredge Technologies (NASDAQ SEDG) opened at $35.40 on Friday. Solaredge Technologies has a twelve month low of $12.25 and a twelve month high of $39.90. The firm has a market capitalization of $1,520.00 and a PE ratio of 21.33.
Solaredge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, November 8th. The semiconductor company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.16. Solaredge Technologies had a return on equity of 22.07% and a net margin of 14.06%. analysts anticipate that Solaredge Technologies will post 1.91 earnings per share for the current year.
In other news, VP Lior Handelsman sold 5,000 shares of Solaredge Technologies stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $36.25, for a total transaction of $181,250.00. Following the completion of the sale, the vice president now owns 177,950 shares in the company, valued at approximately $6,450,687.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Zvi Lando sold 20,000 shares of Solaredge Technologies stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $38.02, for a total value of $760,400.00. Following the sale, the vice president now owns 28,333 shares of the company’s stock, valued at approximately $1,077,220.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,080 shares of company stock valued at $5,298,559. Corporate insiders own 16.40% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of Solaredge Technologies by 16.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,781,003 shares of the semiconductor company’s stock valued at $50,849,000 after acquiring an additional 254,056 shares during the last quarter. Janus Henderson Group PLC lifted its position in Solaredge Technologies by 435.7% in the 2nd quarter. Janus Henderson Group PLC now owns 946,920 shares of the semiconductor company’s stock worth $18,932,000 after buying an additional 770,166 shares during the last quarter. Vanguard Group Inc. lifted its position in Solaredge Technologies by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 460,446 shares of the semiconductor company’s stock worth $9,209,000 after buying an additional 18,861 shares during the last quarter. Robecosam AG lifted its position in Solaredge Technologies by 33.3% in the 3rd quarter. Robecosam AG now owns 440,000 shares of the semiconductor company’s stock worth $12,672,000 after buying an additional 110,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Solaredge Technologies by 143.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 341,115 shares of the semiconductor company’s stock worth $6,822,000 after buying an additional 201,146 shares during the last quarter. Hedge funds and other institutional investors own 66.84% of the company’s stock.
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About Solaredge Technologies
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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