Solaredge Technologies (NASDAQ:SEDG) Rating Reiterated by Canaccord Genuity

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Canaccord Genuity restated their buy rating on shares of Solaredge Technologies (NASDAQ:SEDG) in a research report report published on Thursday, AnalystRatings.com reports. The brokerage currently has a $156.00 price objective on the semiconductor company’s stock, up from their previous price objective of $88.00.

A number of other analysts have also weighed in on SEDG. Northland Securities lowered shares of Solaredge Technologies from an outperform rating to a market perform rating and set a $102.00 target price on the stock. in a report on Monday, January 27th. Roth Capital decreased their target price on shares of Solaredge Technologies from $105.00 to $100.00 in a report on Monday, November 25th. BidaskClub lowered shares of Solaredge Technologies from a strong-buy rating to a buy rating in a report on Friday, February 7th. Needham & Company LLC assumed coverage on shares of Solaredge Technologies in a report on Monday, December 2nd. They issued a buy rating and a $102.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Solaredge Technologies from a buy rating to a hold rating in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Solaredge Technologies presently has a consensus rating of Buy and an average target price of $122.54.

Solaredge Technologies stock opened at $142.07 on Thursday. The firm’s 50 day simple moving average is $106.63 and its 200 day simple moving average is $89.87. The company has a current ratio of 2.14, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $6.91 billion, a PE ratio of 49.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.06. Solaredge Technologies has a 1-year low of $36.28 and a 1-year high of $143.73.

Solaredge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.65 earnings per share for the quarter, topping the Zacks’ 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%. Solaredge Technologies’s revenue was up 58.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 EPS. Research analysts forecast that Solaredge Technologies will post 4.42 earnings per share for the current year.

In other news, VP Yoav Galin sold 1,070 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $105.46, for a total value of $112,842.20. Following the completion of the sale, the vice president now owns 165,855 shares of the company’s stock, valued at approximately $17,491,068.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Zvi Lando sold 28,603 shares of the company’s stock in a transaction on Monday, December 16th. The shares were 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 disclosure for this sale can be found here. Insiders sold a total of 152,202 shares of company stock valued at $14,803,503 in the last ninety days. 7.90% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Tradewinds Capital Management LLC purchased a new stake in Solaredge Technologies during the 4th quarter valued at $27,000. Weaver Consulting Group purchased a new stake in Solaredge Technologies during the 4th quarter valued at $34,000. Busey Wealth Management purchased a new stake in Solaredge Technologies during the 4th quarter valued at $38,000. Vigilant Capital Management LLC purchased a new stake in Solaredge Technologies during the 4th quarter valued at $48,000. Finally, Trustcore Financial Services LLC purchased a new stake in Solaredge Technologies during the 4th quarter valued at $48,000. 78.92% of the stock is owned by institutional investors.

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 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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