ValuEngine upgraded shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) from a hold rating to a buy rating in a research note released on Wednesday, August 2nd.
Several other analysts also recently issued reports on the stock. Vetr raised 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 research note on Tuesday, April 11th. BidaskClub downgraded shares of SolarEdge Technologies from a buy rating to a hold rating in a research note on Thursday, July 6th. Zacks Investment Research raised shares of SolarEdge Technologies from a hold rating to a strong-buy rating and set a $25.00 price target on the stock in a research note on Thursday, July 20th. FBR & Co reaffirmed a market perform rating and issued a $50.00 price target (up from $17.00) on shares of SolarEdge Technologies in a research note on Thursday, May 11th. Finally, TheStreet raised shares of SolarEdge Technologies from a d rating to a c rating in a research note on Wednesday, April 26th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company. SolarEdge Technologies has a consensus rating of Buy and a consensus price target of $23.11.
Shares of SolarEdge Technologies (SEDG) traded up 0.74% during trading on Wednesday, reaching $27.15. The company had a trading volume of 876,273 shares. SolarEdge Technologies has a 12 month low of $11.35 and a 12 month high of $28.80. The stock has a market capitalization of $1.14 billion, a PE ratio of 24.07 and a beta of 0.04. The stock’s 50-day moving average price is $22.80 and its 200-day moving average price is $17.60.
SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.18. SolarEdge Technologies had a return on equity of 21.01% and a net margin of 12.64%. The company had revenue of $136.10 million during the quarter, compared to the consensus estimate of $125.07 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities analysts forecast that SolarEdge Technologies will post $1.84 earnings per share for the current fiscal year.
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In related news, VP Zvi Lando sold 10,000 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $20.49, for a total value of $204,900.00. Following the completion of the sale, the vice president now owns 56,011 shares in the company, valued at $1,147,665.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Doron Inbar sold 50,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $28.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the director now owns 223,333 shares of the company’s stock, valued at approximately $6,253,324. The disclosure for this sale can be found here. Insiders have sold 164,018 shares of company stock valued at $4,157,847 over the last 90 days. Corporate insiders own 16.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in SEDG. Sei Investments Co. boosted its stake in SolarEdge Technologies by 380.4% in the second quarter. Sei Investments Co. now owns 6,005 shares of the semiconductor company’s stock valued at $120,000 after buying an additional 4,755 shares during the last quarter. AQR Capital Management LLC bought a new stake in SolarEdge Technologies during the fourth quarter valued at $138,000. Globeflex Capital L P bought a new stake in SolarEdge Technologies during the second quarter valued at $157,000. Edmond DE Rothschild Holding S.A. bought a new stake in SolarEdge Technologies during the first quarter valued at $173,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in SolarEdge Technologies during the first quarter valued at $178,000. Institutional investors and hedge funds own 57.28% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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