UBS assumed coverage on shares of Solaredge Technologies (NASDAQ:SEDG) in a report published on Friday, March 16th, www.benzinga.com reports. The brokerage issued a buy rating and a $63.00 target price on the semiconductor company’s stock.
SEDG has been the subject of a number of other reports. Zacks Investment Research lowered Solaredge Technologies from a strong-buy rating to a hold rating in a report on Wednesday, January 10th. BidaskClub downgraded Solaredge Technologies from a buy rating to a hold rating in a research report on Friday, February 9th. Vertical Research upgraded Solaredge Technologies from a hold rating to a buy rating in a research report on Thursday, February 15th. Cowen set a $53.00 price objective on Solaredge Technologies and gave the company a buy rating in a research report on Thursday, February 15th. Finally, Vertical Group upgraded Solaredge Technologies from a hold rating to a buy rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $46.47.
Shares of NASDAQ:SEDG traded down $2.98 during trading on Friday, hitting $54.23. The company’s stock had a trading volume of 677,510 shares, compared to its average volume of 662,520. Solaredge Technologies has a fifty-two week low of $15.25 and a fifty-two week high of $58.20. The stock has a market cap of $2,510.58, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 0.96 and a beta of -0.55.
Solaredge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.29. The firm had revenue of $189.34 million for the quarter, compared to analysts’ expectations of $179.78 million. Solaredge Technologies had a return on equity of 29.21% and a net margin of 13.87%. equities research analysts expect that Solaredge Technologies will post 2.48 EPS for the current fiscal year.
In other Solaredge Technologies news, VP Rachel Prishkolnik sold 6,400 shares of the firm’s stock in a transaction dated Wednesday, March 28th. The shares were sold at an average price of $52.09, for a total transaction of $333,376.00. Following the completion of the transaction, the vice president now owns 12,500 shares in the company, valued at $651,125. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Meir Adest sold 28,000 shares of the firm’s stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $53.56, for a total transaction of $1,499,680.00. Following the transaction, the vice president now owns 62,417 shares of the company’s stock, valued at approximately $3,343,054.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 609,025 shares of company stock valued at $29,617,837. 16.40% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in SEDG. Handelsbanken Fonder AB increased its holdings 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 buying an additional 33,060 shares in the last quarter. Meitav Dash Investments Ltd. acquired a new stake in shares of Solaredge Technologies during the fourth quarter worth approximately $15,512,000. Flinton Capital Management LLC acquired a new stake in shares of Solaredge Technologies during the fourth quarter worth approximately $231,000. Meadow Creek Investment Management LLC acquired a new stake in shares of Solaredge Technologies during the fourth quarter worth approximately $109,000. Finally, Elkfork Partners LLC acquired a new stake in shares of Solaredge Technologies during the fourth quarter worth approximately $190,000. Hedge funds and other institutional investors own 65.65% of the company’s stock.
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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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