Solaredge Technologies (NASDAQ:SEDG) Given Buy Rating at Northland Securities

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Northland Securities restated their buy rating on shares of Solaredge Technologies (NASDAQ:SEDG) in a research report sent to investors on Thursday, AnalystRatings.com reports.

Several other equities analysts have also recently issued reports on the company. TheStreet upgraded Solaredge Technologies from a c+ rating to a b- rating in a report on Wednesday, August 7th. Canaccord Genuity raised their price target on Solaredge Technologies from $78.00 to $88.00 and gave the company a buy rating in a report on Monday, November 4th. Oppenheimer raised their price target on Solaredge Technologies from $66.00 to $78.00 and gave the company an outperform rating in a report on Wednesday, August 7th. UBS Group cut Solaredge Technologies from a buy rating to a neutral rating and raised their price target for the company from $73.00 to $90.00 in a report on Thursday, August 22nd. Finally, JMP Securities raised their price target on Solaredge Technologies to $90.00 and gave the company an outperform rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Solaredge Technologies presently has a consensus rating of Buy and a consensus price target of $85.75.

SEDG stock traded down $1.95 during midday trading on Thursday, hitting $77.95. The stock had a trading volume of 1,466,800 shares, compared to its average volume of 899,116. The stock has a 50-day simple moving average of $86.12 and a 200 day simple moving average of $69.45. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 28.98, a P/E/G ratio of 1.27 and a beta of 0.05. Solaredge Technologies has a 52 week low of $32.42 and a 52 week high of $96.69. The company has a current ratio of 2.49, a quick ratio of 1.98 and a debt-to-equity ratio of 0.05.

Solaredge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.22. The business had revenue of $410.56 million for the quarter, compared to analysts’ expectations of $402.89 million. Solaredge Technologies had a return on equity of 17.81% and a net margin of 10.09%. The firm’s quarterly revenue was up 73.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 earnings per share. On average, equities analysts forecast that Solaredge Technologies will post 2.99 EPS for the current year.

In other Solaredge Technologies news, VP Zvi Lando sold 28,604 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.55, for a total transaction of $2,246,844.20. Following the transaction, the vice president now owns 101,313 shares in the company, valued at $7,958,136.15. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director More Avery sold 14,891 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $81.14, for a total value of $1,208,255.74. Following the transaction, the director now owns 585,611 shares in the company, valued at approximately $47,516,476.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 270,203 shares of company stock worth $22,538,997. Company insiders own 7.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Arlington Capital Management Inc. bought a new position in shares of Solaredge Technologies during the 3rd quarter valued at about $929,000. Tiedemann Advisors LLC lifted its holdings in shares of Solaredge Technologies by 879.9% during the 3rd quarter. Tiedemann Advisors LLC now owns 35,100 shares of the semiconductor company’s stock valued at $2,939,000 after purchasing an additional 31,518 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Solaredge Technologies by 9.5% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,123,792 shares of the semiconductor company’s stock valued at $94,084,000 after purchasing an additional 97,353 shares in the last quarter. Mason Street Advisors LLC lifted its holdings in shares of Solaredge Technologies by 9.3% during the 3rd quarter. Mason Street Advisors LLC now owns 16,289 shares of the semiconductor company’s stock valued at $1,364,000 after purchasing an additional 1,385 shares in the last quarter. Finally, Alps Advisors Inc. bought a new position in shares of Solaredge Technologies during the 3rd quarter valued at about $810,000. Hedge funds and other institutional investors own 81.44% of the company’s stock.

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 worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.

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Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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