Solaredge Technologies (SEDG) Cut to “Hold” at BidaskClub

Solaredge Technologies (NASDAQ:SEDG) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday.

A number of other analysts have also recently commented on SEDG. Roth Capital set a $30.00 target price on shares of Solaredge Technologies and gave the stock a “buy” rating in a research note on Sunday, October 15th. ValuEngine cut shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. JPMorgan Chase & Co. lifted their target price on shares of Solaredge Technologies from $31.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Canaccord Genuity reiterated a “buy” rating and issued a $36.00 target price (up from $30.00) on shares of Solaredge Technologies in a research note on Monday, November 6th. Finally, B. Riley upgraded shares of Solaredge Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $18.00 to $45.00 in a research note on Thursday, November 9th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $34.19.

Shares of Solaredge Technologies (NASDAQ:SEDG) opened at $32.25 on Friday. Solaredge Technologies has a 1-year low of $12.45 and a 1-year high of $39.90. The firm has a market cap of $1,390.00 and a PE ratio of 19.43.

Solaredge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, November 8th. The semiconductor company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.16. Solaredge Technologies had a net margin of 14.06% and a return on equity of 22.07%. equities analysts forecast that Solaredge Technologies will post 1.91 EPS for the current year.

In other Solaredge Technologies news, VP Yoav Galin sold 15,000 shares of Solaredge Technologies stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $35.46, for a total transaction of $531,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Meir Adest sold 4,700 shares of Solaredge Technologies stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $35.02, for a total transaction of $164,594.00. Following the sale, the vice president now owns 20,633 shares of the company’s stock, valued at $722,567.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,380 shares of company stock valued at $4,841,790. Company insiders own 16.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its stake in Solaredge Technologies by 19.5% during the 3rd quarter. Wells Fargo & Company MN now owns 10,291 shares of the semiconductor company’s stock valued at $294,000 after acquiring an additional 1,680 shares during the period. First Trust Advisors LP lifted its stake in Solaredge Technologies by 3.5% during the 4th quarter. First Trust Advisors LP now owns 82,852 shares of the semiconductor company’s stock valued at $3,111,000 after acquiring an additional 2,772 shares during the period. Northern Trust Corp lifted its stake in Solaredge Technologies by 3.3% during the 2nd quarter. Northern Trust Corp now owns 102,236 shares of the semiconductor company’s stock valued at $2,046,000 after acquiring an additional 3,297 shares during the period. Swiss National Bank increased its holdings in shares of Solaredge Technologies by 7.4% during the 4th quarter. Swiss National Bank now owns 48,000 shares of the semiconductor company’s stock valued at $1,802,000 after purchasing an additional 3,300 shares in the last quarter. Finally, CAPROCK Group Inc. increased its holdings in shares of Solaredge Technologies by 30.4% during the 3rd quarter. CAPROCK Group Inc. now owns 16,360 shares of the semiconductor company’s stock valued at $467,000 after purchasing an additional 3,815 shares in the last quarter. Institutional investors and hedge funds own 67.09% of the company’s stock.

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Solaredge Technologies Company Profile

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.

Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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