Solaredge Technologies (NASDAQ:SEDG) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $63.00 to $59.00 in a report released on Friday. The firm currently has a “buy” rating on the semiconductor company’s stock. JPMorgan Chase & Co.’s price objective points to a potential upside of 56.29% from the stock’s current price.
Other equities analysts have also issued reports about the stock. B. Riley set a $64.00 price target on shares of Solaredge Technologies and gave the stock a “buy” rating in a research report on Friday, August 3rd. ValuEngine lowered shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Roth Capital set a $60.00 price target on shares of Solaredge Technologies and gave the stock a “buy” rating in a research report on Friday, August 3rd. BidaskClub lowered shares of Solaredge Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Finally, Zacks Investment Research lowered shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $55.00.
Shares of NASDAQ SEDG opened at $37.75 on Friday. Solaredge Technologies has a 52-week low of $30.80 and a 52-week high of $70.74. The stock has a market capitalization of $1.72 billion, a PE ratio of 11.72, a P/E/G ratio of 0.62 and a beta of -0.41.
Solaredge Technologies (NASDAQ:SEDG) last announced its earnings results on Thursday, November 1st. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.04. Solaredge Technologies had a net margin of 15.69% and a return on equity of 34.96%. The business had revenue of $236.60 million for the quarter, compared to analyst estimates of $234.19 million. During the same quarter last year, the business earned $0.66 earnings per share. The company’s revenue for the quarter was up 42.1% compared to the same quarter last year. Sell-side analysts forecast that Solaredge Technologies will post 2.79 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ayalon Holdings Ltd. purchased a new position in Solaredge Technologies during the second quarter worth about $134,000. NewSquare Capital LLC purchased a new position in Solaredge Technologies during the second quarter worth about $161,000. Sei Investments Co. raised its stake in Solaredge Technologies by 114.4% during the first quarter. Sei Investments Co. now owns 3,107 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 1,658 shares during the period. Public Employees Retirement Association of Colorado purchased a new position in Solaredge Technologies during the third quarter worth about $127,000. Finally, Xact Kapitalforvaltning AB purchased a new position in Solaredge Technologies during the first quarter worth about $203,000. Hedge funds and other institutional investors own 73.98% of the company’s stock.
About Solaredge Technologies
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in Israel, the United States, the Netherlands, Europe, and internationally. The company's DC optimized inverter systems include power optimizers and inverters, as well as a cloud-based monitoring platform.
See Also: Hedge Funds – Risk or Reward?
Receive News & Ratings for Solaredge Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solaredge Technologies and related companies with MarketBeat.com's FREE daily email newsletter.