Solaredge Technologies (SEDG) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of Solaredge Technologies (NASDAQ:SEDG) from a sell rating to a hold rating in a report issued on Thursday.

Other research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Solaredge Technologies from a sell rating to a hold rating in a research report on Thursday, November 8th. BidaskClub upgraded shares of Solaredge Technologies from a sell rating to a hold rating in a research note on Tuesday, November 27th. Roth Capital reduced their target price on shares of Solaredge Technologies from $60.00 to $50.00 and set a buy rating for the company in a research note on Friday, November 30th. B. Riley set a $60.00 price target on shares of Solaredge Technologies and gave the stock a buy rating in a research note on Friday, November 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Solaredge Technologies from $63.00 to $59.00 and set a buy rating for the company in a report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. Solaredge Technologies currently has an average rating of Buy and a consensus target price of $54.17.

Shares of NASDAQ:SEDG traded down $0.58 on Thursday, reaching $39.80. 5,646 shares of the company’s stock were exchanged, compared to its average volume of 626,974. Solaredge Technologies has a twelve month low of $30.80 and a twelve month high of $70.74. The firm has a market cap of $1.76 billion, a PE ratio of 17.77, a PEG ratio of 0.64 and a beta of -0.42.

Solaredge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.04. Solaredge Technologies had a net margin of 15.69% and a return on equity of 33.12%. The company had revenue of $236.60 million during the quarter, compared to the consensus estimate of $234.19 million. During the same quarter in the prior year, the firm posted $0.66 EPS. The firm’s quarterly revenue was up 42.1% on a year-over-year basis. Analysts forecast that Solaredge Technologies will post 2.73 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its position in Solaredge Technologies by 15.7% during the 3rd quarter. BlackRock Inc. now owns 4,290,970 shares of the semiconductor company’s stock valued at $161,555,000 after purchasing an additional 582,451 shares during the period. NN Investment Partners Holdings N.V. grew its position in shares of Solaredge Technologies by 39.5% in the 3rd quarter. NN Investment Partners Holdings N.V. now owns 3,394,855 shares of the semiconductor company’s stock worth $127,818,000 after buying an additional 960,411 shares during the period. Vanguard Group Inc. grew its position in shares of Solaredge Technologies by 21.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,910,830 shares of the semiconductor company’s stock worth $71,943,000 after buying an additional 332,393 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Solaredge Technologies by 59.4% in the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,228,457 shares of the semiconductor company’s stock worth $58,782,000 after buying an additional 457,908 shares during the period. Finally, Robecosam AG grew its position in shares of Solaredge Technologies by 15.2% in the 3rd quarter. Robecosam AG now owns 991,000 shares of the semiconductor company’s stock worth $37,658,000 after buying an additional 131,000 shares during the period. 79.78% of the stock is currently owned by institutional investors and hedge funds.

Solaredge Technologies Company Profile

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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Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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