Solaredge Technologies (SEDG) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Solaredge Technologies (NASDAQ:SEDG) from a hold rating to a buy rating in a research report report published on Friday morning.

SEDG has been the topic of several other research reports. JPMorgan Chase & Co. lifted their target price on shares of Solaredge Technologies from $31.00 to $37.00 and gave the company an overweight rating in a report on Wednesday, November 1st. Canaccord Genuity reiterated a buy rating and issued a $36.00 price objective (up previously from $30.00) on shares of Solaredge Technologies in a report on Monday, November 6th. Needham & Company LLC boosted their price objective on shares of Solaredge Technologies from $30.00 to $42.00 and gave the stock a buy rating in a report on Thursday, November 9th. Roth Capital boosted their price objective on shares of Solaredge Technologies from $36.00 to $42.00 and gave the stock a buy rating in a report on Thursday, November 9th. Finally, BidaskClub lowered shares of Solaredge Technologies from a strong-buy rating to a buy rating in a report on Saturday, December 2nd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $34.19.

Solaredge Technologies (SEDG) opened at $34.80 on Friday. The firm has a market cap of $1,500.00 and a price-to-earnings ratio of 20.96. Solaredge Technologies has a 1-year low of $12.30 and a 1-year high of $39.90.

Solaredge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, November 8th. The semiconductor company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.16. Solaredge Technologies had a net margin of 14.06% and a return on equity of 22.07%. research analysts forecast that Solaredge Technologies will post 1.91 earnings per share for the current year.

In other news, VP Yoav Galin sold 15,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $35.46, for a total value of $531,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Meir Adest sold 4,700 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $35.02, for a total transaction of $164,594.00. Following the completion of the sale, the vice president now directly owns 20,633 shares of the company’s stock, valued at approximately $722,567.66. The disclosure for this sale can be found here. Insiders sold a total of 148,380 shares of company stock valued at $5,602,190 in the last three months. Insiders own 16.40% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEDG. Schwab Charles Investment Management Inc. increased its position in shares of Solaredge Technologies by 24.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 101,566 shares of the semiconductor company’s stock worth $2,032,000 after purchasing an additional 19,694 shares during the last quarter. Swiss National Bank increased its position in shares of Solaredge Technologies by 19.5% in the 2nd quarter. Swiss National Bank now owns 44,700 shares of the semiconductor company’s stock worth $894,000 after purchasing an additional 7,300 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Solaredge Technologies in the 2nd quarter worth about $676,000. PNC Financial Services Group Inc. increased its position in shares of Solaredge Technologies by 2,100.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 22,000 shares of the semiconductor company’s stock worth $440,000 after purchasing an additional 21,000 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Solaredge Technologies by 3.3% in the 2nd quarter. Northern Trust Corp now owns 102,236 shares of the semiconductor company’s stock worth $2,046,000 after purchasing an additional 3,297 shares during the last quarter. 67.09% of the stock is owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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