SolarEdge Technologies, Inc. (NASDAQ:SEDG) has earned an average recommendation of “Buy” from the nineteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $25.45.
Several research analysts recently weighed in on the company. ValuEngine cut SolarEdge Technologies from a “buy” rating to a “hold” rating in a research report on Friday. Roth Capital set a $30.00 price objective on SolarEdge Technologies and gave the company a “buy” rating in a research report on Sunday, October 15th. Zacks Investment Research cut SolarEdge Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. BidaskClub upgraded SolarEdge Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th. Finally, Barclays PLC restated an “overweight” rating and issued a $28.00 price objective (up from $21.00) on shares of SolarEdge Technologies in a research report on Wednesday, August 9th.
In other news, Director Doron Inbar sold 50,000 shares of SolarEdge Technologies stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $28.00, for a total value of $1,400,000.00. Following the sale, the director now directly owns 223,333 shares of the company’s stock, valued at $6,253,324. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Zvi Lando sold 10,000 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $30.36, for a total value of $303,600.00. Following the completion of the sale, the vice president now directly owns 48,333 shares in the company, valued at $1,467,389.88. The disclosure for this sale can be found here. Insiders sold 180,000 shares of company stock worth $5,034,150 over the last ninety days. Corporate insiders own 16.40% of the company’s stock.
Several large investors have recently modified their holdings of the company. Senvest Management LLC boosted its stake in shares of SolarEdge Technologies by 2.8% in the second quarter. Senvest Management LLC now owns 3,751,178 shares of the semiconductor company’s stock worth $75,024,000 after acquiring an additional 103,000 shares during the last quarter. FMR LLC boosted its stake in shares of SolarEdge Technologies by 4.5% in the first quarter. FMR LLC now owns 3,183,418 shares of the semiconductor company’s stock worth $49,662,000 after acquiring an additional 136,899 shares during the last quarter. NN Investment Partners Holdings N.V. boosted its stake in shares of SolarEdge Technologies by 21.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,736,541 shares of the semiconductor company’s stock worth $34,731,000 after acquiring an additional 305,179 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of SolarEdge Technologies by 601.2% in the second quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock worth $30,539,000 after acquiring an additional 1,309,184 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. boosted its stake in shares of SolarEdge Technologies by 26.2% in the second quarter. Menora Mivtachim Holdings LTD. now owns 1,444,013 shares of the semiconductor company’s stock worth $28,880,000 after acquiring an additional 300,000 shares during the last quarter. 57.94% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of SolarEdge Technologies (SEDG) traded up 4.05% on Wednesday, hitting $32.15. The company had a trading volume of 713,600 shares. SolarEdge Technologies has a 52 week low of $11.35 and a 52 week high of $32.33. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 28.50 and a beta of 0.03. The stock’s 50-day moving average is $28.70 and its 200 day moving average is $28.70.
SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.18. The company had revenue of $136.10 million during the quarter, compared to analysts’ expectations of $125.07 million. SolarEdge Technologies had a return on equity of 21.01% and a net margin of 12.64%. SolarEdge Technologies’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the business earned $0.44 earnings per share. Equities analysts expect that SolarEdge Technologies will post $1.85 EPS for the current year.
About SolarEdge Technologies
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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