Solaredge Technologies Inc (NASDAQ:SEDG) has been given an average rating of “Buy” by the fifteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $54.27.
SEDG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. set a $63.00 target price on Solaredge Technologies and gave the company a “buy” rating in a report on Wednesday, September 19th. BidaskClub downgraded Solaredge Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 29th. Vertical Group set a $29.00 price objective on Solaredge Technologies and gave the stock a “sell” rating in a research report on Wednesday, October 24th. Zacks Investment Research downgraded Solaredge Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Finally, ValuEngine downgraded Solaredge Technologies from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd.
SEDG traded up $1.84 during midday trading on Thursday, reaching $40.38. The company’s stock had a trading volume of 1,716,599 shares, compared to its average volume of 972,482. The firm has a market capitalization of $1.76 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 0.64 and a beta of -0.42. Solaredge Technologies has a twelve month low of $30.80 and a twelve month high of $70.74.
Solaredge Technologies (NASDAQ:SEDG) last released its earnings results on Thursday, November 1st. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.04. The firm had revenue of $236.60 million for the quarter, compared to analyst estimates of $234.19 million. Solaredge Technologies had a return on equity of 33.12% and a net margin of 15.69%. The company’s revenue was up 42.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. As a group, equities research analysts expect that Solaredge Technologies will post 2.73 EPS for the current year.
Several hedge funds have recently made changes to their positions in SEDG. Xact Kapitalforvaltning AB lifted its position in shares of Solaredge Technologies by 31.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 5,058 shares of the semiconductor company’s stock worth $242,000 after buying an additional 1,200 shares during the period. Comerica Bank lifted its position in shares of Solaredge Technologies by 3.5% during the 3rd quarter. Comerica Bank now owns 40,011 shares of the semiconductor company’s stock worth $1,594,000 after buying an additional 1,360 shares during the period. United Services Automobile Association lifted its position in shares of Solaredge Technologies by 20.2% during the 2nd quarter. United Services Automobile Association now owns 8,378 shares of the semiconductor company’s stock worth $401,000 after buying an additional 1,408 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Solaredge Technologies by 12.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 13,848 shares of the semiconductor company’s stock worth $521,000 after buying an additional 1,488 shares during the period. Finally, Globeflex Capital L P lifted its position in shares of Solaredge Technologies by 11.5% during the 2nd quarter. Globeflex Capital L P now owns 14,528 shares of the semiconductor company’s stock worth $695,000 after buying an additional 1,500 shares during the period. Institutional investors own 79.78% 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.
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