Solaredge Technologies (SEDG) Upgraded at ValuEngine

ValuEngine upgraded shares of Solaredge Technologies (NASDAQ:SEDG) from a sell rating to a hold rating in a research note published on Wednesday morning.

A number of other equities analysts have also commented on the company. JPMorgan Chase & Co. set a $63.00 price target on Solaredge Technologies and gave the company a buy rating in a research note on Wednesday, September 19th. BidaskClub lowered Solaredge Technologies from a sell rating to a strong sell rating in a research note on Saturday, September 29th. Vertical Group set a $29.00 price target on Solaredge Technologies and gave the company a sell rating in a research note on Wednesday, October 24th. Zacks Investment Research lowered Solaredge Technologies from a hold rating to a sell rating in a research note on Thursday, October 4th. Finally, Cowen reissued a buy rating and set a $57.00 price target on shares of Solaredge Technologies in a research note on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $54.17.

NASDAQ SEDG opened at $38.93 on Wednesday. The stock has a market capitalization of $1.92 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 0.70 and a beta of -0.41. Solaredge Technologies has a twelve month low of $30.80 and a twelve month high of $70.74.

Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Thursday, November 1st. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $236.60 million during the quarter, compared to analyst estimates of $234.19 million. Solaredge Technologies had a return on equity of 33.12% and a net margin of 15.69%. The business’s quarterly revenue was up 42.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 earnings per share. On average, research analysts forecast that Solaredge Technologies will post 2.73 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB boosted its stake in Solaredge Technologies by 31.1% during the second quarter. Xact Kapitalforvaltning AB now owns 5,058 shares of the semiconductor company’s stock valued at $242,000 after buying an additional 1,200 shares during the last quarter. Comerica Bank raised its position in Solaredge Technologies by 3.5% during the third quarter. Comerica Bank now owns 40,011 shares of the semiconductor company’s stock valued at $1,594,000 after purchasing an additional 1,360 shares during the period. United Services Automobile Association raised its position in Solaredge Technologies by 20.2% during the second quarter. United Services Automobile Association now owns 8,378 shares of the semiconductor company’s stock valued at $401,000 after purchasing an additional 1,408 shares during the period. State of Alaska Department of Revenue raised its position in Solaredge Technologies by 12.0% during the third quarter. State of Alaska Department of Revenue now owns 13,848 shares of the semiconductor company’s stock valued at $521,000 after purchasing an additional 1,488 shares during the period. Finally, Globeflex Capital L P raised its position in Solaredge Technologies by 11.5% during the second quarter. Globeflex Capital L P now owns 14,528 shares of the semiconductor company’s stock valued at $695,000 after purchasing an additional 1,500 shares during the period. 79.23% of the stock is owned by institutional investors.

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 in Israel, the United States, the Netherlands, Europe, and internationally. The company's DC optimized inverter systems include power optimizers and inverters, as well as a cloud-based monitoring platform.

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Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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