Laurion Capital Management LP purchased a new stake in Solaredge Technologies Inc (NASDAQ:SEDG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,500 shares of the semiconductor company’s stock, valued at approximately $245,000.
Other institutional investors also recently modified their holdings of the company. Public Employees Retirement Association of Colorado bought a new position in Solaredge Technologies in the third quarter valued at approximately $127,000. Itau Unibanco Holding S.A. bought a new position in Solaredge Technologies in the second quarter valued at approximately $193,000. M Holdings Securities Inc. bought a new position in Solaredge Technologies in the second quarter valued at approximately $233,000. Milestone Group Inc. bought a new position in Solaredge Technologies in the third quarter valued at approximately $237,000. Finally, Stevens Capital Management LP bought a new position in Solaredge Technologies in the second quarter valued at approximately $240,000. 79.54% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on SEDG. BidaskClub cut shares of Solaredge Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, September 11th. Zacks Investment Research raised shares of Solaredge Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. Roth Capital reduced their price objective on shares of Solaredge Technologies from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, November 30th. JPMorgan Chase & Co. set a $63.00 price objective on shares of Solaredge Technologies and gave the company a “buy” rating in a research note on Wednesday, September 19th. Finally, ValuEngine raised shares of Solaredge Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, November 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $54.17.
Shares of NASDAQ SEDG opened at $38.33 on Friday. The firm has a market cap of $1.76 billion, a PE ratio of 17.04, a PEG ratio of 0.64 and a beta of -0.42. Solaredge Technologies Inc has a twelve month low of $30.80 and a twelve month high of $70.74.
Solaredge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $236.60 million for the quarter, compared to analysts’ expectations of $234.19 million. Solaredge Technologies had a net margin of 15.69% and a return on equity of 33.12%. The business’s quarterly revenue was up 42.1% compared to the same quarter last year. During the same period last year, the firm posted $0.66 earnings per share. On average, research analysts anticipate that Solaredge Technologies Inc will post 2.73 EPS for the current year.
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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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