JPMorgan Chase & Co. set a $63.00 target price on Solaredge Technologies (NASDAQ:SEDG) in a research report report published on Wednesday morning. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other research analysts have also weighed in on the stock. BidaskClub lowered shares of Solaredge Technologies from a hold rating to a sell rating in a research note on Tuesday, September 11th. Zacks Investment Research lowered shares of Solaredge Technologies from a buy rating to a hold rating in a research note on Thursday, August 9th. ValuEngine lowered shares of Solaredge Technologies from a buy rating to a hold rating in a research note on Friday, August 3rd. Roth Capital set a $60.00 price target on shares of Solaredge Technologies and gave the company a buy rating in a research note on Friday, August 3rd. Finally, Cowen reaffirmed a buy rating and issued a $57.00 price target on shares of Solaredge Technologies in a research note on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $58.09.

NASDAQ:SEDG opened at $42.60 on Wednesday. Solaredge Technologies has a 52 week low of $25.25 and a 52 week high of $70.74. The stock has a market cap of $1.94 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 0.69 and a beta of -0.51.

Solaredge Technologies (NASDAQ:SEDG) last posted its earnings results on Thursday, August 2nd. The semiconductor company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.09. Solaredge Technologies had a return on equity of 32.26% and a net margin of 14.85%. The firm had revenue of $227.10 million for the quarter, compared to analysts’ expectations of $225.31 million. During the same period last year, the firm earned $0.55 EPS. The company’s quarterly revenue was up 66.9% on a year-over-year basis. analysts predict that Solaredge Technologies will post 2.8 earnings per share for the current fiscal year.

In other Solaredge Technologies news, VP Meir Adest sold 28,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $55.48, for a total value of $1,553,440.00. Following the transaction, the vice president now directly owns 341,040 shares of the company’s stock, valued at approximately $18,920,899.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 53,601 shares of company stock worth $2,837,334 over the last three months. Corporate insiders own 9.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SEDG. Ayalon Holdings Ltd. purchased a new position in Solaredge Technologies in the 2nd quarter worth approximately $134,000. NewSquare Capital LLC purchased a new position in Solaredge Technologies in the 2nd quarter worth approximately $161,000. Sei Investments Co. lifted its stake in Solaredge Technologies by 114.4% in the 1st quarter. Sei Investments Co. now owns 3,107 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 1,658 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Solaredge Technologies in the 2nd quarter worth approximately $193,000. Finally, Cypress Capital Group purchased a new position in Solaredge Technologies in the 1st quarter worth approximately $201,000. 73.77% 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 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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