Solaredge Technologies (SEDG) Downgraded to Underperform at JMP Securities

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JMP Securities downgraded shares of Solaredge Technologies (NASDAQ:SEDG) from a market perform rating to an underperform rating in a research report report published on Thursday, Marketbeat Ratings reports. JMP Securities currently has $31.00 price objective on the semiconductor company’s stock. The analysts noted that the move was a valuation call.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. set a $63.00 price objective on shares of Solaredge Technologies and gave the stock a buy rating in a research report on Wednesday, September 19th. ValuEngine raised Solaredge Technologies from a sell rating to a hold rating in a report on Wednesday, November 28th. Zacks Investment Research downgraded Solaredge Technologies from a hold rating to a sell rating in a report on Thursday, October 4th. BidaskClub raised Solaredge Technologies from a strong sell rating to a sell rating in a report on Tuesday, October 16th. Finally, B. Riley set a $60.00 target price on Solaredge Technologies and gave the stock a buy rating in a report on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Solaredge Technologies has an average rating of Hold and a consensus price target of $54.67.

Shares of NASDAQ:SEDG traded down $0.39 during midday trading on Thursday, hitting $37.18. The stock had a trading volume of 422,800 shares, compared to its average volume of 776,631. Solaredge Technologies has a 12 month low of $30.80 and a 12 month high of $70.74. The stock has a market capitalization of $1.71 billion, a PE ratio of 16.52, a P/E/G ratio of 0.60 and a beta of -0.08.

Solaredge Technologies (NASDAQ:SEDG) last released its earnings results on Thursday, November 1st. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. Solaredge Technologies had a net margin of 15.69% and a return on equity of 33.12%. The business had revenue of $236.60 million during the quarter, compared to analysts’ expectations of $234.19 million. During the same period last year, the business earned $0.66 earnings per share. The firm’s revenue was up 42.1% on a year-over-year basis. Research analysts predict that Solaredge Technologies will post 2.73 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Solaredge Technologies by 13.0% in the second quarter. BlackRock Inc. now owns 3,708,519 shares of the semiconductor company’s stock valued at $177,453,000 after purchasing an additional 426,231 shares in the last quarter. Legal & General Group Plc grew its position in Solaredge Technologies by 12.0% in the second quarter. Legal & General Group Plc now owns 77,180 shares of the semiconductor company’s stock valued at $3,738,000 after acquiring an additional 8,246 shares during the last quarter. North Growth Management Ltd. grew its position in Solaredge Technologies by 38.0% in the third quarter. North Growth Management Ltd. now owns 378,000 shares of the semiconductor company’s stock valued at $14,241,000 after acquiring an additional 104,000 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Solaredge Technologies by 11.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 126,405 shares of the semiconductor company’s stock valued at $6,049,000 after acquiring an additional 12,764 shares during the last quarter. Finally, Arizona State Retirement System grew its position in Solaredge Technologies by 12.6% in the third quarter. Arizona State Retirement System now owns 62,041 shares of the semiconductor company’s stock valued at $2,336,000 after acquiring an additional 6,963 shares during the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

About Solaredge Technologies

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.

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Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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