Solaredge Technologies Inc (SEDG) Given Consensus Rating of “Buy” by Analysts

Shares of Solaredge Technologies Inc (NASDAQ:SEDG) have been given an average rating of “Buy” by the eighteen brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $56.00.

SEDG has been the topic of several recent research reports. BidaskClub cut shares of Solaredge Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 25th. Canaccord Genuity set a $55.00 price objective on shares of Solaredge Technologies and gave the stock a “buy” rating in a research note on Sunday, May 6th. UBS Group initiated coverage on shares of Solaredge Technologies in a research note on Friday, March 16th. They issued a “buy” rating and a $63.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Solaredge Technologies from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, March 19th. Finally, Roth Capital set a $60.00 price objective on shares of Solaredge Technologies and gave the stock a “buy” rating in a research note on Thursday, February 15th.

In other news, VP Meir Adest sold 1,441 shares of Solaredge Technologies stock in a transaction that occurred on Monday, June 4th. The shares were sold at an average price of $55.49, for a total value of $79,961.09. Following the transaction, the vice president now directly owns 341,897 shares of the company’s stock, valued at $18,971,864.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Lior Handelsman sold 59,298 shares of Solaredge Technologies stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $68.77, for a total transaction of $4,077,923.46. Following the completion of the transaction, the vice president now directly owns 94,943 shares in the company, valued at $6,529,230.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 556,674 shares of company stock worth $32,029,479. 9.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new position in Solaredge Technologies during the first quarter valued at approximately $2,845,000. Principal Financial Group Inc. grew its position in Solaredge Technologies by 2.8% during the first quarter. Principal Financial Group Inc. now owns 278,011 shares of the semiconductor company’s stock valued at $14,623,000 after purchasing an additional 7,643 shares in the last quarter. Navellier & Associates Inc purchased a new position in Solaredge Technologies during the first quarter valued at approximately $1,495,000. Cypress Capital Group purchased a new position in Solaredge Technologies during the first quarter valued at approximately $201,000. Finally, Rational Advisors LLC purchased a new position in Solaredge Technologies during the first quarter valued at approximately $442,000. 63.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Solaredge Technologies traded down $0.35, hitting $51.20, during mid-day trading on Thursday, according to MarketBeat.com. The company’s stock had a trading volume of 1,209,353 shares, compared to its average volume of 973,008. The stock has a market capitalization of $2.38 billion, a P/E ratio of 22.76, a P/E/G ratio of 0.79 and a beta of -0.53. Solaredge Technologies has a fifty-two week low of $19.00 and a fifty-two week high of $70.74.

Solaredge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, May 9th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.07. The company had revenue of $209.90 million for the quarter, compared to analysts’ expectations of $204.38 million. Solaredge Technologies had a net margin of 15.06% and a return on equity of 32.27%. The business’s revenue was up 82.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. equities research analysts forecast that Solaredge Technologies will post 2.78 earnings per share for the current fiscal year.

Solaredge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in Israel, the United States, the Netherlands, Europe, and internationally. The company's DC optimized inverter systems include power optimizers and inverters, as well as a cloud-based monitoring platform.

Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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