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SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Rating) has been given a consensus recommendation of "Hold" by the twenty-seven analysts that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $359.68.
Several equities research analysts recently weighed in on SEDG shares. TheStreet downgraded SolarEdge Technologies from a "b-" rating to a "c+" rating in a report on Wednesday, September 28th. StockNews.com raised SolarEdge Technologies to a "sell" rating in a report on Saturday, July 2nd. Needham & Company LLC decreased their price target on SolarEdge Technologies from $390.00 to $380.00 and set a "buy" rating for the company in a report on Wednesday, August 3rd. Morgan Stanley raised their target price on SolarEdge Technologies from $316.00 to $352.00 and gave the company an "equal weight" rating in a report on Thursday, August 18th. Finally, Oppenheimer raised their target price on SolarEdge Technologies from $334.00 to $400.00 in a report on Wednesday, August 3rd.SolarEdge Technologies Stock Performance
Shares of SEDG opened at $234.24 on Thursday. The company has a current ratio of 3.73, a quick ratio of 2.96 and a debt-to-equity ratio of 0.33. The firm has a market cap of $12.97 billion, a PE ratio of 91.50, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The company's 50 day simple moving average is $294.02 and its 200-day simple moving average is $285.58. SolarEdge Technologies has a 12-month low of $200.86 and a 12-month high of $389.71.
SolarEdge Technologies (NASDAQ:SEDG - Get Rating) last announced its earnings results on Tuesday, August 2nd. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.53). SolarEdge Technologies had a return on equity of 8.56% and a net margin of 5.78%. The business had revenue of $727.77 million for the quarter, compared to analysts' expectations of $725.75 million. As a group, equities analysts predict that SolarEdge Technologies will post 4.05 EPS for the current year. Insider Buying and Selling
In related news, Director More Avery sold 46,319 shares of SolarEdge Technologies stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $82.70, for a total transaction of $3,830,581.30. Following the completion of the sale, the director now owns 543,782 shares in the company, valued at approximately $44,970,771.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other SolarEdge Technologies news, Director More Avery sold 46,319 shares of SolarEdge Technologies stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $82.70, for a total value of $3,830,581.30. Following the completion of the sale, the director now owns 543,782 shares in the company, valued at approximately $44,970,771.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Meir Adest sold 7,722 shares of SolarEdge Technologies stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $312.83, for a total value of $2,415,673.26. Following the completion of the sale, the vice president now owns 168,335 shares of the company's stock, valued at approximately $52,660,238.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,571 shares of company stock worth $10,183,247. 1.17% of the stock is owned by corporate insiders. Hedge Funds Weigh In On SolarEdge Technologies
Hedge funds and other institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its stake in shares of SolarEdge Technologies by 79.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 95 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 42 shares in the last quarter. Elequin Capital LP acquired a new position in shares of SolarEdge Technologies in the 1st quarter valued at about $32,000. Chilton Capital Management LLC acquired a new position in shares of SolarEdge Technologies in the 4th quarter valued at about $28,000. AllSquare Wealth Management LLC acquired a new position in shares of SolarEdge Technologies in the 2nd quarter valued at about $27,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of SolarEdge Technologies by 274.1% in the 1st quarter. First Horizon Advisors Inc. now owns 101 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds. About SolarEdge Technologies (Get Rating)
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.Recommended StoriesGet a free copy of the StockNews.com research report on SolarEdge Technologies (SEDG)3 Alzheimer Stocks to Buy as the Race for a Cure Heats Up Don’t Forget About These Cheap, Fundamentally Strong Tech StocksBellwether RPM International Pops On Results Rivian Checks Off Boxes, But Still Needs a Lot to Go Right Hot Potato: Lamb Weston Stock Confirms a Top
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