Northland Securities reissued their buy rating on shares of Solaredge Technologies (NASDAQ:SEDG) in a research note issued to investors on Thursday morning, AnalystRatings.com reports.
Several other research firms have also issued reports on SEDG. Oppenheimer upped their price target on shares of Solaredge Technologies from $66.00 to $78.00 and gave the company an outperform rating in a research report on Wednesday, August 7th. Zacks Investment Research lowered shares of Solaredge Technologies from a strong-buy rating to a hold rating in a research report on Wednesday, October 9th. Credit Suisse Group upped their price target on shares of Solaredge Technologies from $70.00 to $80.00 and gave the company a neutral rating in a research report on Friday, September 20th. ValuEngine lowered shares of Solaredge Technologies from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Finally, Cowen set a $85.00 price target on shares of Solaredge Technologies and gave the company a buy rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $85.75.
SEDG stock traded down $1.95 during midday trading on Thursday, reaching $77.95. 1,466,800 shares of the company’s stock traded hands, compared to its average volume of 899,116. The company has a 50-day moving average price of $86.12 and a two-hundred day moving average price of $69.45. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.98 and a current ratio of 2.49. Solaredge Technologies has a 52 week low of $32.42 and a 52 week high of $96.69. The firm has a market capitalization of $3.99 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 1.27 and a beta 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. Solaredge Technologies had a net margin of 10.09% and a return on equity of 17.81%. The business had revenue of $410.56 million during the quarter, compared to analyst estimates of $402.89 million. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s revenue was up 73.5% on a year-over-year basis. As a group, analysts predict that Solaredge Technologies will post 2.99 EPS for the current fiscal year.
In other news, VP Zvi Lando sold 28,604 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $83.81, for a total transaction of $2,397,301.24. Following the completion of the sale, the vice president now directly owns 95,500 shares in the company, valued at $8,003,855. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Yoav Galin sold 97,500 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $84.22, for a total transaction of $8,211,450.00. Following the sale, the vice president now owns 59,030 shares of the company’s stock, valued at $4,971,506.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 270,203 shares of company stock valued at $22,538,997. 7.90% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of SEDG. First Trust Advisors LP boosted its holdings in shares of Solaredge Technologies by 2.3% during the first quarter. First Trust Advisors LP now owns 70,405 shares of the semiconductor company’s stock worth $2,653,000 after purchasing an additional 1,581 shares during the period. Swedbank bought a new position in Solaredge Technologies in the second quarter worth about $124,959,000. KAMES CAPITAL plc bought a new position in Solaredge Technologies in the second quarter worth about $17,050,000. Crossmark Global Holdings Inc. bought a new position in Solaredge Technologies in the second quarter worth about $234,000. Finally, Ayalon Holdings Ltd. raised its stake in Solaredge Technologies by 581.3% in the second quarter. Ayalon Holdings Ltd. now owns 24,179 shares of the semiconductor company’s stock worth $1,506,000 after buying an additional 20,630 shares in the last quarter. Institutional investors own 81.44% of the company’s stock.
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 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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