Solaredge Technologies (NASDAQ:SEDG) PT Raised to $140.00

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Solaredge Technologies (NASDAQ:SEDG) had its price target raised by Needham & Company LLC from $102.00 to $140.00 in a research report sent to investors on Thursday, Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

SEDG has been the subject of a number of other reports. Canaccord Genuity restated a buy rating and set a $156.00 target price (up from $88.00) on shares of Solaredge Technologies in a report on Thursday. Roth Capital lowered their target price on Solaredge Technologies from $105.00 to $100.00 in a report on Monday, November 25th. Cowen restated a buy rating and set a $118.00 target price on shares of Solaredge Technologies in a report on Monday, December 16th. Northland Securities cut Solaredge Technologies from an outperform rating to a market perform rating and set a $102.00 target price for the company. in a report on Monday, January 27th. Finally, Cascend Securities raised their target price on Solaredge Technologies from $100.00 to $120.00 and gave the company a buy rating in a report on Friday, January 10th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $122.54.

Shares of Solaredge Technologies stock opened at $142.07 on Thursday. The business has a 50-day moving average of $106.63 and a 200 day moving average of $89.87. Solaredge Technologies has a 12 month low of $36.28 and a 12 month high of $143.73. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of 49.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.06. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.14 and a quick ratio of 1.74.

Solaredge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.54. Solaredge Technologies had a return on equity of 20.03% and a net margin of 10.28%. The company had revenue of $418.22 million during the quarter, compared to analysts’ expectations of $413.80 million. During the same period last year, the business posted $0.63 EPS. Solaredge Technologies’s revenue for the quarter was up 58.6% on a year-over-year basis. Equities research analysts anticipate that Solaredge Technologies will post 4.42 earnings per share for the current year.

In other news, VP Meir Adest sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $100.72, for a total transaction of $503,600.00. Following the sale, the vice president now owns 332,947 shares of the company’s stock, valued at approximately $33,534,421.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Zvi Lando sold 28,603 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $92.07, for a total value of $2,633,478.21. Following the sale, the chief executive officer now directly owns 101,312 shares in the company, valued at approximately $9,327,795.84. The disclosure for this sale can be found here. Insiders sold a total of 152,202 shares of company stock worth $14,803,503 in the last ninety days. 7.90% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of SEDG. First Trust Advisors LP raised its position in shares of Solaredge Technologies by 2.3% during the 1st quarter. First Trust Advisors LP now owns 70,405 shares of the semiconductor company’s stock worth $2,653,000 after acquiring an additional 1,581 shares in the last quarter. BlackRock Inc. raised its position in shares of Solaredge Technologies by 2.8% during the 2nd 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 in the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Solaredge Technologies during the 3rd quarter worth about $54,000. Envestnet Asset Management Inc. acquired a new stake in shares of Solaredge Technologies during the 3rd quarter worth about $222,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Solaredge Technologies during the 3rd quarter worth about $3,098,000. 78.92% of the stock is currently owned by institutional investors and hedge funds.

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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