Solaredge Technologies (SEDG) Trading Down 0%

Solaredge Technologies Inc (NASDAQ:SEDG) fell 0% during trading on Friday . The company traded as low as $53.75 and last traded at $54.23. 677,510 shares were traded during trading, a decline of 15% from the average session volume of 795,002 shares. The stock had previously closed at $54.23.

A number of brokerages have recently commented on SEDG. JPMorgan Chase raised their price objective on shares of Solaredge Technologies from $43.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Needham & Company LLC raised 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. Canaccord Genuity raised their price objective on shares of Solaredge Technologies from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. BidaskClub raised shares of Solaredge Technologies from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 15th. Finally, Oppenheimer raised their price objective on shares of Solaredge Technologies from $38.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. Solaredge Technologies currently has a consensus rating of “Buy” and a consensus target price of $46.47.

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The company has a market cap of $2,396.46, a PE ratio of 24.10, a price-to-earnings-growth ratio of 0.92 and a beta of -0.55.

Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.29. Solaredge Technologies had a net margin of 13.87% and a return on equity of 29.21%. The firm had revenue of $189.34 million for the quarter, compared to analysts’ expectations of $179.78 million. research analysts forecast that Solaredge Technologies Inc will post 2.48 EPS for the current year.

In other Solaredge Technologies news, VP Yoav Galin sold 35,000 shares of Solaredge Technologies stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $44.33, for a total transaction of $1,551,550.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Meir Adest sold 28,000 shares of Solaredge Technologies stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $53.56, for a total transaction of $1,499,680.00. Following the sale, the vice president now directly owns 62,417 shares in the company, valued at approximately $3,343,054.52. The disclosure for this sale can be found here. Insiders sold a total of 609,025 shares of company stock worth $29,617,837 in the last three months. 16.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in Solaredge Technologies by 7.3% during the 4th quarter. BlackRock Inc. now owns 3,155,082 shares of the semiconductor company’s stock worth $118,474,000 after purchasing an additional 214,504 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Solaredge Technologies by 3.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 703,910 shares of the semiconductor company’s stock worth $26,432,000 after purchasing an additional 25,772 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Solaredge Technologies by 2,778.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 670,681 shares of the semiconductor company’s stock worth $25,184,000 after purchasing an additional 647,381 shares during the last quarter. Robecosam AG boosted its stake in Solaredge Technologies by 18.2% during the 4th quarter. Robecosam AG now owns 520,000 shares of the semiconductor company’s stock worth $19,734,000 after purchasing an additional 80,000 shares during the last quarter. Finally, Meitav Dash Investments Ltd. acquired a new stake in Solaredge Technologies during the 4th quarter worth $15,512,000. 65.65% of the stock is currently owned by 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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