Solaredge Technologies (NASDAQ:SEDG) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Solaredge Technologies (NASDAQ:SEDG) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, ValuEngine reports.

Several other research analysts have also weighed in on the company. Goldman Sachs Group upgraded Solaredge Technologies from a sell rating to a neutral rating and lifted their target price for the stock from $35.00 to $52.00 in a report on Monday, June 17th. Cowen set a $85.00 target price on Solaredge Technologies and gave the stock a buy rating in a report on Wednesday, August 7th. Canaccord Genuity lifted their target price on Solaredge Technologies from $62.00 to $68.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their target price on Solaredge Technologies from $84.00 to $100.00 and gave the stock an overweight rating in a report on Tuesday, August 13th. Finally, Cascend Securities reissued a buy rating and issued a $75.00 price target (up previously from $65.00) on shares of Solaredge Technologies in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $78.07.

SEDG stock opened at $89.41 on Tuesday. The business’s 50-day moving average price is $79.65 and its two-hundred day moving average price is $58.12. The company has a current ratio of 2.49, a quick ratio of 1.98 and a debt-to-equity ratio of 0.05. The firm has a market cap of $3.98 billion, a PE ratio of 36.10, a P/E/G ratio of 1.26 and a beta of 0.06. Solaredge Technologies has a 1-year low of $32.42 and a 1-year high of $91.42.

Solaredge Technologies (NASDAQ:SEDG) last posted its earnings results on Tuesday, August 6th. The semiconductor company reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.01. The firm had revenue of $325.00 million for the quarter, compared to analyst estimates of $315.53 million. Solaredge Technologies had a return on equity of 17.81% and a net margin of 10.09%. The company’s revenue for the quarter was up 43.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share. On average, analysts forecast that Solaredge Technologies will post 2.99 earnings per share for the current year.

In other Solaredge Technologies news, CEO Zvi Lando sold 28,604 shares of Solaredge Technologies stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $81.93, for a total value of $2,343,525.72. Following the sale, the chief executive officer now owns 84,375 shares of the company’s stock, valued at approximately $6,912,843.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Doron Inbar sold 20,000 shares of Solaredge Technologies stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $86.80, for a total value of $1,736,000.00. Following the completion of the sale, the director now directly owns 45,712 shares in the company, valued at approximately $3,967,801.60. The disclosure for this sale can be found here. Insiders sold a total of 241,599 shares of company stock worth $20,141,696 in the last three months. Company insiders own 7.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. M Holdings Securities Inc. increased its position in shares of Solaredge Technologies by 10.9% in the first quarter. M Holdings Securities Inc. now owns 10,785 shares of the semiconductor company’s stock valued at $406,000 after acquiring an additional 1,056 shares during the last quarter. AlphaOne Investment Services LLC increased its position in shares of Solaredge Technologies by 327.2% in the second quarter. AlphaOne Investment Services LLC now owns 4,007 shares of the semiconductor company’s stock valued at $250,000 after acquiring an additional 3,069 shares during the last quarter. Ardsley Advisory Partners LP acquired a new stake in shares of Solaredge Technologies in the second quarter valued at about $655,000. Candriam Luxembourg S.C.A. acquired a new stake in shares of Solaredge Technologies in the second quarter valued at about $777,000. Finally, Isthmus Partners LLC acquired a new stake in shares of Solaredge Technologies in the second quarter valued at about $210,000. 80.44% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: How to use beta for portfolio diversification

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

Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

Receive News & Ratings for Solaredge Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solaredge Technologies and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit