FBR & Co reaffirmed their market perform rating on shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) in a research note issued to investors on Thursday, May 11th. The brokerage currently has a $50.00 price target on the semiconductor company’s stock, up from their prior price target of $17.00.
Other research analysts have also recently issued research reports about the company. Needham & Company LLC reiterated a buy rating and set a $22.00 price objective on shares of SolarEdge Technologies in a research note on Wednesday, February 15th. TheStreet upgraded SolarEdge Technologies from a d rating to a c rating in a research note on Wednesday, April 26th. Roth Capital set a $16.00 price objective on SolarEdge Technologies and gave the company a hold rating in a research note on Wednesday, May 10th. Zacks Investment Research upgraded SolarEdge Technologies from a sell rating to a hold rating in a research note on Tuesday, January 17th. Finally, Cowen and Company set a $21.00 price target on SolarEdge Technologies and gave the stock an outperform rating in a research note on Wednesday, May 10th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $18.89.
SolarEdge Technologies (NASDAQ SEDG) opened at 19.45 on Thursday. The firm has a market capitalization of $808.23 million, a price-to-earnings ratio of 19.33 and a beta of -0.03. SolarEdge Technologies has a 12 month low of $11.35 and a 12 month high of $21.53. The stock’s 50 day moving average price is $17.94 and its 200-day moving average price is $15.05.
SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Tuesday, May 9th. The semiconductor company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.09. The business had revenue of $115.10 million during the quarter, compared to analysts’ expectations of $114.10 million. SolarEdge Technologies had a return on equity of 21.03% and a net margin of 11.85%. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 earnings per share. Equities analysts anticipate that SolarEdge Technologies will post $1.45 EPS for the current fiscal year.
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In other SolarEdge Technologies news, VP Yoav Galin sold 120,000 shares of the business’s stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $14.27, for a total transaction of $1,712,400.00. Following the completion of the sale, the vice president now owns 540,838 shares of the company’s stock, valued at $7,717,758.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director More Avery sold 20,000 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $19.30, for a total value of $386,000.00. The disclosure for this sale can be found here. Insiders have sold 141,018 shares of company stock valued at $2,117,192 in the last three months. 16.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Prince Street Capital Management LLC raised its stake in SolarEdge Technologies by 12.6% in the third quarter. Prince Street Capital Management LLC now owns 965,400 shares of the semiconductor company’s stock valued at $16,633,000 after buying an additional 107,700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in SolarEdge Technologies by 16.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 473,131 shares of the semiconductor company’s stock valued at $8,152,000 after buying an additional 65,337 shares in the last quarter. Global Alpha Capital Management Ltd. raised its stake in SolarEdge Technologies by 16.1% in the third quarter. Global Alpha Capital Management Ltd. now owns 100,900 shares of the semiconductor company’s stock valued at $1,739,000 after buying an additional 14,000 shares in the last quarter. NN Investment Partners Holdings N.V. raised its stake in SolarEdge Technologies by 26.2% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 1,211,087 shares of the semiconductor company’s stock valued at $15,017,000 after buying an additional 251,313 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in SolarEdge Technologies by 281.3% in the fourth quarter. Handelsbanken Fonder AB now owns 61,000 shares of the semiconductor company’s stock valued at $756,000 after buying an additional 45,000 shares in the last quarter. 55.61% of the stock is owned by institutional investors and hedge funds.
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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