Solaredge Technologies (NASDAQ:SEDG) had its price target upped by Oppenheimer from $38.00 to $50.00 in a research note issued to investors on Friday. Oppenheimer currently has an outperform rating on the semiconductor company’s stock.
Several other research firms have also recently weighed in on SEDG. Deutsche Bank cut shares of Solaredge Technologies from a buy rating to a hold rating and set a $40.00 target price for the company. in a research note on Monday, November 27th. Zacks Investment Research raised shares of Solaredge Technologies from a hold rating to a strong-buy rating and set a $44.00 price objective for the company in a research note on Tuesday, November 14th. B. Riley set a $48.00 price objective on shares of Solaredge Technologies and gave the stock a buy rating in a research note on Thursday, February 15th. Vertical Group raised shares of Solaredge Technologies from a hold rating to a buy rating in a research note on Thursday, February 15th. Finally, Needham & Company LLC lifted their price objective on shares of Solaredge Technologies from $42.00 to $55.00 and gave the stock a buy rating in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $42.04.
Solaredge Technologies (SEDG) opened at $46.00 on Friday. The firm has a market cap of $1,980.00 and a price-to-earnings ratio of 27.71. Solaredge Technologies has a 52 week low of $13.50 and a 52 week high of $47.15.
Solaredge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, February 14th. The semiconductor company reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.29. The company had revenue of $189.34 million during the quarter, compared to analysts’ expectations of $179.78 million. Solaredge Technologies had a net margin of 13.87% and a return on equity of 29.21%. analysts predict that Solaredge Technologies will post 2.15 EPS for the current fiscal year.
In related news, VP Yoav Galin sold 35,000 shares of Solaredge Technologies stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $44.33, for a total transaction of $1,551,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ronen Faier sold 36,868 shares of Solaredge Technologies stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $44.30, for a total transaction of $1,633,252.40. Following the transaction, the chief financial officer now directly owns 28,634 shares of the company’s stock, valued at $1,268,486.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 416,914 shares of company stock valued at $17,159,064. 16.40% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Solaredge Technologies during the 4th quarter worth about $102,000. Meadow Creek Investment Management LLC purchased a new position in shares of Solaredge Technologies during the 4th quarter worth about $109,000. American International Group Inc. purchased a new position in shares of Solaredge Technologies during the 3rd quarter worth about $123,000. Pinebridge Investments L.P. purchased a new position in shares of Solaredge Technologies during the 3rd quarter worth about $125,000. Finally, Tyers Asset Management LLC purchased a new position in shares of Solaredge Technologies during the 4th quarter worth about $190,000. 63.13% of the stock is owned by hedge funds and other institutional investors.
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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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