UBS Group assumed coverage on shares of Solaredge Technologies (NASDAQ:SEDG) in a research note issued to investors on Friday. The firm set a “buy” rating on the semiconductor company’s stock.
Several other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Solaredge Technologies from $43.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Needham & Company LLC upped their target price on shares of Solaredge Technologies from $42.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Canaccord Genuity upped their target price on shares of Solaredge Technologies from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Deutsche Bank cut shares of Solaredge Technologies from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research report on Monday, November 27th. Finally, BidaskClub upgraded shares of Solaredge Technologies from a “buy” rating to a “strong-buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. Solaredge Technologies presently has a consensus rating of “Buy” and a consensus price target of $43.12.
Solaredge Technologies (NASDAQ SEDG) opened at $54.75 on Friday. Solaredge Technologies has a 1-year low of $13.50 and a 1-year high of $55.55. The company has a market cap of $2,400.85, a PE ratio of 29.59, a price-to-earnings-growth ratio of 0.93 and a beta of -0.56.
Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.51 by $0.29. Solaredge Technologies had a net margin of 13.87% and a return on equity of 29.21%. The business had revenue of $189.34 million during the quarter, compared to the consensus estimate of $179.78 million. equities analysts anticipate that Solaredge Technologies will post 2.45 earnings per share for the current year.
In related news, VP Yoav Galin sold 15,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $37.74, for a total value of $566,100.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Guy Sella sold 216,666 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $42.15, for a total transaction of $9,132,471.90. Following the completion of the sale, the chief executive officer now directly owns 73,333 shares in the company, valued at $3,090,985.95. The disclosure for this sale can be found here. Insiders sold a total of 385,566 shares of company stock worth $16,435,783 over the last three months. 16.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB increased its position in shares of Solaredge Technologies by 15.8% during the fourth quarter. Handelsbanken Fonder AB now owns 241,757 shares of the semiconductor company’s stock worth $9,078,000 after acquiring an additional 33,060 shares during the period. Meitav Dash Investments Ltd. purchased a new position in shares of Solaredge Technologies during the fourth quarter worth approximately $15,512,000. Flinton Capital Management LLC purchased a new position in shares of Solaredge Technologies during the fourth quarter worth approximately $231,000. Meadow Creek Investment Management LLC purchased a new position in shares of Solaredge Technologies during the fourth quarter worth approximately $109,000. Finally, Elkfork Partners LLC purchased a new position in shares of Solaredge Technologies during the fourth quarter worth approximately $190,000. 65.65% of the stock is currently owned by institutional investors.
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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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