Solaredge Technologies (NASDAQ:SEDG) PT Raised to $157.00

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Solaredge Technologies (NASDAQ:SEDG) had its target price upped by JMP Securities from $117.00 to $157.00 in a report published on Thursday morning, The Fly reports. They currently have an outperform rating on the semiconductor company’s stock.

Several other research firms have also commented on SEDG. Canaccord Genuity upped their price objective on Solaredge Technologies from $78.00 to $88.00 and gave the stock a buy rating in a research report on Monday, November 4th. Needham & Company LLC started coverage on Solaredge Technologies in a research report on Monday, December 2nd. They issued a buy rating and a $102.00 price objective on the stock. Cowen restated a buy rating and issued a $118.00 price objective on shares of Solaredge Technologies in a research report on Monday, December 16th. Northland Securities lowered Solaredge Technologies from an outperform rating to a market perform rating and set a $102.00 price objective on the stock. in a research report on Monday, January 27th. Finally, BidaskClub lowered Solaredge Technologies from a strong-buy rating to a buy rating in a research report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of $122.54.

Shares of SEDG stock opened at $142.07 on Thursday. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 49.16, a P/E/G ratio of 1.46 and a beta of 0.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 2.14. Solaredge Technologies has a 52 week low of $36.28 and a 52 week high of $143.73. The firm’s 50-day simple moving average is $106.63 and its two-hundred day simple moving average is $89.87.

Solaredge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.11 by $0.54. The business had revenue of $418.22 million for the quarter, compared to analyst estimates of $413.80 million. Solaredge Technologies had a net margin of 10.28% and a return on equity of 20.03%. The company’s revenue for the quarter was up 58.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. Analysts forecast that Solaredge Technologies will post 4.42 earnings per share for the current year.

In related news, 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 transaction of $2,633,478.21. Following the completion of the sale, the chief executive officer now directly owns 101,312 shares of the company’s stock, valued at approximately $9,327,795.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Yoav Galin sold 1,070 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $105.46, for a total value of $112,842.20. Following the sale, the vice president now directly owns 165,855 shares of the company’s stock, valued at $17,491,068.30. The disclosure for this sale can be found here. Insiders have sold a total of 152,202 shares of company stock valued at $14,803,503 over the last three months. Corporate insiders own 7.90% of the company’s stock.

Several large investors have recently modified their holdings of SEDG. Geode Capital Management LLC boosted its holdings in Solaredge Technologies by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 424,646 shares of the semiconductor company’s stock valued at $40,379,000 after purchasing an additional 22,819 shares during the last quarter. Mason Street Advisors LLC lifted its holdings in Solaredge Technologies by 58.7% during the 4th quarter. Mason Street Advisors LLC now owns 25,856 shares of the semiconductor company’s stock worth $2,459,000 after buying an additional 9,567 shares during the last quarter. Phoenix Holdings Ltd. lifted its holdings in Solaredge Technologies by 0.5% during the 4th quarter. Phoenix Holdings Ltd. now owns 656,679 shares of the semiconductor company’s stock worth $62,013,000 after buying an additional 3,077 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Solaredge Technologies by 22.0% during the 4th quarter. Alliancebernstein L.P. now owns 102,738 shares of the semiconductor company’s stock worth $9,769,000 after buying an additional 18,541 shares during the last quarter. Finally, AXA lifted its holdings in Solaredge Technologies by 412.5% during the 4th quarter. AXA now owns 106,600 shares of the semiconductor company’s stock worth $10,137,000 after buying an additional 85,800 shares during the last quarter. 78.92% of the stock is owned by hedge funds and other institutional investors.

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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The Fly

Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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