SolarEdge Technologies, Inc. (SEDG) Receives Average Rating of “Buy” from Brokerages
SolarEdge Technologies, Inc. (NASDAQ:SEDG) has received an average recommendation of “Buy” from the nineteen ratings firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $25.05.
A number of research firms have recently weighed in on SEDG. FBR & Co set a $18.00 price objective on SolarEdge Technologies and gave the stock a “hold” rating in a research note on Saturday, May 13th. JMP Securities reaffirmed an “outperform” rating on shares of SolarEdge Technologies in a research note on Thursday, August 3rd. Axiom Securities reaffirmed a “sell” rating on shares of SolarEdge Technologies in a research note on Thursday. Roth Capital set a $16.00 price objective on SolarEdge Technologies and gave the stock a “hold” rating in a research note on Wednesday, May 10th. Finally, CIBC raised SolarEdge Technologies from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 18th.
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Shares of SolarEdge Technologies (NASDAQ SEDG) traded up 0.74% during mid-day trading on Friday, hitting $27.15. The stock had a trading volume of 876,273 shares. SolarEdge Technologies has a 12 month low of $11.35 and a 12 month high of $28.80. The company has a market cap of $1.14 billion, a PE ratio of 24.07 and a beta of 0.04. The stock’s 50-day moving average is $22.61 and its 200 day moving average is $17.50.
SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.18. The firm had revenue of $136.10 million during the quarter, compared to analyst estimates of $125.07 million. SolarEdge Technologies had a return on equity of 21.01% and a net margin of 12.64%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 earnings per share. On average, equities research analysts forecast that SolarEdge Technologies will post $1.84 earnings per share for the current fiscal year.
In other news, VP Lior Handelsman sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $21.44, for a total value of $107,200.00. Following the completion of the sale, the vice president now directly owns 251,814 shares of the company’s stock, valued at approximately $5,398,892.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Doron Inbar sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $28.00, for a total value of $1,400,000.00. Following the completion of the sale, the director now directly owns 223,333 shares of the company’s stock, valued at $6,253,324. The disclosure for this sale can be found here. Insiders sold a total of 164,018 shares of company stock valued at $4,157,847 over the last ninety days. Corporate insiders own 16.40% of the company’s stock.
Several large investors have recently bought and sold shares of SEDG. EAM Investors LLC bought a new stake in SolarEdge Technologies during the second quarter valued at about $735,000. Globeflex Capital L P bought a new stake in SolarEdge Technologies during the second quarter valued at about $157,000. Vanguard Group Inc. raised its stake in SolarEdge Technologies by 4.3% in the second quarter. Vanguard Group Inc. now owns 460,446 shares of the semiconductor company’s stock valued at $9,209,000 after buying an additional 18,861 shares during the last quarter. Northern Trust Corp raised its stake in SolarEdge Technologies by 3.3% in the second quarter. Northern Trust Corp now owns 102,236 shares of the semiconductor company’s stock valued at $2,046,000 after buying an additional 3,297 shares during the last quarter. Finally, Investec Asset Management LTD raised its stake in SolarEdge Technologies by 35.6% in the second quarter. Investec Asset Management LTD now owns 62,568 shares of the semiconductor company’s stock valued at $1,251,000 after buying an additional 16,429 shares during the last quarter. 57.28% of the stock is owned by institutional investors and hedge funds.
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.
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