Shares of Solaredge Technologies Inc (NASDAQ:SEDG) have been assigned an average rating of “Hold” from the fifteen brokerages that are covering the stock. Four analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $19.45.
Several research firms have weighed in on SEDG. Vetr upgraded shares of Solaredge Technologies from a “sell” rating to a “strong-buy” rating and set a $18.52 target price on the stock in a report on Tuesday, April 11th. JMP Securities upgraded shares of Solaredge Technologies from a “market perform” rating to an “outperform” rating and set a $19.00 target price on the stock in a report on Friday, March 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Solaredge Technologies in a report on Wednesday, February 15th. FBR & Co reiterated a “market perform” rating and issued a $17.00 target price on shares of Solaredge Technologies in a report on Wednesday, February 15th. Finally, Roth Capital reiterated a “neutral” rating and issued a $14.00 target price on shares of Solaredge Technologies in a report on Tuesday, February 14th.
Shares of Solaredge Technologies (NASDAQ:SEDG) traded up 0.32% during mid-day trading on Tuesday, hitting $15.90. The stock had a trading volume of 162,133 shares. The stock has a market cap of $652.90 million, a P/E ratio of 11.03 and a beta of -0.25. The company’s 50 day moving average is $14.85 and its 200-day moving average is $14.07. Solaredge Technologies has a 52-week low of $11.35 and a 52-week high of $28.80.
Solaredge Technologies (NASDAQ:SEDG) last posted its earnings results on Tuesday, February 14th. The semiconductor company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by $0.01. The firm earned $111.50 million during the quarter, compared to analyst estimates of $115.82 million. Solaredge Technologies had a net margin of 15.46% and a return on equity of 29.93%. The business’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 earnings per share. On average, equities research analysts anticipate that Solaredge Technologies will post $1.28 earnings per share for the current fiscal year.
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In other news, VP Yoav Galin sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $14.27, for a total value of $1,712,400.00. Following the sale, the vice president now directly owns 540,838 shares of the company’s stock, valued at approximately $7,717,758.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.52% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in SEDG. AQR Capital Management LLC bought a new stake in Solaredge Technologies during the fourth quarter worth about $138,000. Koch Industries Inc. bought a new stake in Solaredge Technologies during the fourth quarter worth about $141,000. Fox Run Management L.L.C. acquired a new stake in shares of Solaredge Technologies during the first quarter valued at $206,000. Guinness Asset Management Ltd increased its stake in shares of Solaredge Technologies by 65.4% in the third quarter. Guinness Asset Management Ltd now owns 13,400 shares of the semiconductor company’s stock valued at $231,000 after buying an additional 5,300 shares during the last quarter. Finally, FNY Managed Accounts LLC acquired a new stake in shares of Solaredge Technologies during the third quarter valued at $258,000. 61.51% of the stock is currently owned by institutional investors and hedge funds.
Solaredge Technologies Company Profile
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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