SolarEdge Technologies, Inc. (NASDAQ: SEDG – Get Rating) has earned an average recommendation of “Moderate Buy” from the twenty-nine brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $350.81.
Several research firms have commented on SEDG. Bank of America boosted their target price on SolarEdge Technologies from $305.00 to $411.00 and gave the company a “buy” rating in a research note on Friday, March 11th. Credit Suisse Group reissued a “buy” rating and set a $303.00 target price on shares of SolarEdge Technologies in a report on Friday, March 18th. Wells Fargo & Company raised their price objective on SolarEdge Technologies from $361.00 to $399.00 in a report on Friday, April 1st. Morgan Stanley decreased their price objective on SolarEdge Technologies from $333.00 to $316.00 and set an “equal weight” rating on the stock in a report on Monday, June 13th. Finally, BMO Capital Markets cut their target price on SolarEdge Technologies from $405.00 to $372.00 in a research report on Tuesday, May 3rd.
Shares of SEDG stock opened at $273.68 on Tuesday. The stock has a 50-day moving average price of $264.69 and a 200-day moving average price of $275.27. The company has a quick ratio of 3.57, a current ratio of 4.33 and a debt-to-equity ratio of 0.34. The firm has a market cap of $15.16 billion, a price-to-earnings ratio of 87.72, a PEG ratio of 2.11 and a beta of 1.10. 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 issued its earnings results on Monday, May 2nd. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.18). SolarEdge Technologies had a return on equity of 11.59% and a net margin of 7.78%. The company had revenue of $655.08 million for the quarter, compared to the consensus estimate of $634.70 million. Sell-side analysts predict that SolarEdge Technologies will post 4.76 earnings per share for the current fiscal year.
In other SolarEdge Technologies news, VP Meir Adest sold 10,000 shares of the stock in a transaction on Monday, April 18th. The stock was sold at an average price of $301.59, for a total value of $3,015,900.00. Following the completion of the sale, the vice president now owns 199,867 shares in the company, valued at approximately $60,277,888.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Rachel Prishkolnik sold 1,900 shares of the stock in a transaction on Monday, June 27th. The stock was sold at an average price of $301.58, for a total value of $573,002.00. Following the completion of the sale, the vice president now owns 12,581 shares of the company’s stock, valued at approximately $3,794,177.98. The disclosure for this sale can be found here. Insiders sold a total of 19,261 shares of company stock worth $5,617,276 over the last ninety days. 1.60% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in SolarEdge Technologies by 1.8% in the first quarter. Vanguard Group Inc. now owns 2,083,190 shares of the semiconductor company’s stock worth $671,558,000 after purchasing an additional 37,181 shares during the last quarter. Pictet Asset Management SA raised its position in shares of SolarEdge Technologies by 30.1% in the fourth quarter. Pictet Asset Management SA now owns 1,284,822 shares of the semiconductor company’s stock worth $360,483,000 after acquiring an additional 297,272 shares during the period. William Blair Investment Management LLC increased its stake in shares of SolarEdge Technologies by 6.3% during the first quarter. William Blair Investment Management LLC now owns 949,889 shares of the semiconductor company’s stock worth $306,216,000 after purchasing an additional 56,700 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of SolarEdge Technologies by 63.8% during the fourth quarter. Geode Capital Management LLC now owns 811,454 shares of the semiconductor company’s stock worth $226,980,000 after purchasing an additional 316,001 shares in the last quarter. Finally, Impax Asset Management Group plc increased its stake in shares of SolarEdge Technologies by 0.5% during the fourth quarter. Impax Asset Management Group plc now owns 754,007 shares of the semiconductor company’s stock worth $210,837,000 after purchasing an additional 3,938 shares in the last quarter. 75.73% of the stock is owned by institutional investors and hedge funds.
SolarEdge Technologies Company Profile (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.
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