SolarEdge Technologies, Inc. (NASDAQ:SEDG) – Stock analysts at Oppenheimer Holdings increased their FY2017 earnings per share (EPS) estimates for shares of SolarEdge Technologies in a note issued to investors on Thursday. Oppenheimer Holdings analyst C. Rusch now anticipates that the semiconductor company will post earnings of $1.87 per share for the year, up from their prior forecast of $1.62. Oppenheimer Holdings currently has a “Outperform” rating and a $32.00 target price on the stock. Oppenheimer Holdings also issued estimates for SolarEdge Technologies’ Q4 2017 earnings at $0.50 EPS.
SEDG has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of SolarEdge Technologies from a “hold” rating to a “strong-buy” rating and set a $44.00 price target on the stock in a report on Tuesday. Axiom Securities restated a “sell” rating on shares of SolarEdge Technologies in a report on Thursday, August 31st. Barclays PLC restated an “overweight” rating and set a $28.00 price target (up previously from $21.00) on shares of SolarEdge Technologies in a report on Wednesday, August 9th. Cowen and Company restated a “buy” rating and set a $31.00 price target (up previously from $24.00) on shares of SolarEdge Technologies in a report on Thursday, August 3rd. Finally, Roth Capital upgraded shares of SolarEdge Technologies from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $33.42.
SolarEdge Technologies (SEDG) opened at $38.17 on Monday. The firm has a market cap of $1,640.94, a price-to-earnings ratio of 23.12, a PEG ratio of 0.84 and a beta of 0.10. SolarEdge Technologies has a twelve month low of $12.00 and a twelve month high of $39.45.
Several large investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new position in shares of SolarEdge Technologies during the 3rd quarter worth about $325,000. Highbridge Capital Management LLC bought a new position in shares of SolarEdge Technologies during the 3rd quarter worth about $290,000. Allianz Asset Management GmbH bought a new position in shares of SolarEdge Technologies during the 3rd quarter worth about $616,000. Engineers Gate Manager LP increased its holdings in shares of SolarEdge Technologies by 37.2% during the 3rd quarter. Engineers Gate Manager LP now owns 64,997 shares of the semiconductor company’s stock worth $1,856,000 after purchasing an additional 17,607 shares during the period. Finally, Pinebridge Investments L.P. bought a new position in shares of SolarEdge Technologies during the 3rd quarter worth about $125,000. Institutional investors own 60.00% of the company’s stock.
In other news, VP Yoav Galin sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $26.35, for a total transaction of $395,250.00. Following the transaction, the vice president now owns 65,000 shares in the company, valued at approximately $1,712,750. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Ronen Faier sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $28.56, for a total transaction of $856,800.00. Following the transaction, the chief financial officer now owns 80,000 shares in the company, valued at approximately $2,284,800. The disclosure for this sale can be found here. Insiders sold a total of 112,940 shares of company stock worth $3,511,159 in the last quarter. Insiders own 16.40% 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.
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