Solaredge Technologies (NASDAQ:SEDG) PT Raised to $105.00

Solaredge Technologies (NASDAQ:SEDG) had its price target hoisted by Credit Suisse Group from $85.00 to $105.00 in a research report issued on Friday, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Credit Suisse Group’s price objective points to a potential downside of 26.16% from the company’s previous close.

A number of other brokerages have also recently weighed in on SEDG. ValuEngine raised Solaredge Technologies from a “sell” rating to a “hold” rating in a report on Monday, December 16th. Northland Securities lowered Solaredge Technologies from an “outperform” rating to a “market perform” rating and set a $102.00 price objective on the stock. in a research report on Monday, January 27th. BidaskClub lowered Solaredge Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 7th. Roth Capital lifted their price objective on Solaredge Technologies from to and gave the stock a “buy” rating in a research report on Thursday. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $156.00 price objective (up from $88.00) on shares of Solaredge Technologies in a research report on Thursday. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $122.54.

Shares of SEDG opened at $142.20 on Friday. The stock’s 50-day simple moving average is $105.82 and its 200 day simple moving average is $89.48. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 49.20, a price-to-earnings-growth ratio of 1.36 and a beta of 0.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.09 and a current ratio of 2.49. Solaredge Technologies has a 52-week low of $36.28 and a 52-week high of $143.73.

Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.54. Solaredge Technologies had a return on equity of 20.79% and a net margin of 10.28%. The firm had revenue of $418.22 million for the quarter, compared to analysts’ expectations of $413.80 million. During the same quarter last year, the firm posted $0.63 EPS. The company’s revenue was up 58.6% compared to the same quarter last year. On average, research analysts forecast that Solaredge Technologies will post 4.29 earnings per share for the current fiscal year.

In related news, CEO Zvi Lando sold 28,603 shares of Solaredge Technologies stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $92.07, for a total transaction of $2,633,478.21. Following the sale, the chief executive officer now directly owns 101,312 shares in the company, valued at $9,327,795.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Yoav Galin sold 1,070 shares of Solaredge Technologies stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $105.46, for a total value of $112,842.20. Following the sale, the vice president now owns 165,855 shares in the company, valued at $17,491,068.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 152,202 shares of company stock worth $14,803,503. Corporate insiders own 7.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SEDG. BlackRock Inc. grew its holdings in shares of Solaredge Technologies by 2.8% in the second quarter. BlackRock Inc. now owns 4,840,757 shares of the semiconductor company’s stock worth $302,353,000 after acquiring an additional 131,352 shares during the period. FMR LLC grew its stake in Solaredge Technologies by 5,730.3% in the fourth quarter. FMR LLC now owns 2,000,549 shares of the semiconductor company’s stock worth $190,232,000 after purchasing an additional 1,966,236 shares in the last quarter. Ion Asset Management Ltd. grew its stake in Solaredge Technologies by 14.4% in the fourth quarter. Ion Asset Management Ltd. now owns 1,601,879 shares of the semiconductor company’s stock worth $152,322,000 after purchasing an additional 201,133 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in Solaredge Technologies by 14.3% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,342,780 shares of the semiconductor company’s stock worth $127,685,000 after purchasing an additional 167,569 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in Solaredge Technologies by 10.5% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,241,492 shares of the semiconductor company’s stock worth $118,053,000 after purchasing an additional 117,700 shares in the last quarter. Institutional investors own 85.80% of the company’s stock.

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 worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.

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Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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