Deutsche Bank AG set a $25.00 target price on SolarEdge Technologies, Inc. (NASDAQ:SEDG) in a research report released on Wednesday morning. The firm currently has a buy rating on the semiconductor company’s stock.
A number of other research firms have also weighed in on SEDG. Needham & Company LLC reissued a buy rating and issued a $22.00 price objective on shares of SolarEdge Technologies in a research report on Wednesday, February 15th. JMP Securities raised shares of SolarEdge Technologies from a market perform rating to an outperform rating and set a $19.00 price objective on the stock in a research report on Friday, March 3rd. Axiom Securities reissued a sell rating on shares of SolarEdge Technologies in a research report on Friday, June 9th. Cowen and Company set a $21.00 price objective on shares of SolarEdge Technologies and gave the stock an outperform rating in a research report on Wednesday, May 10th. Finally, FBR & Co reissued a market perform rating and issued a $50.00 price objective (up from $17.00) on shares of SolarEdge Technologies in a research report on Thursday, May 11th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $18.89.
SolarEdge Technologies (NASDAQ SEDG) opened at 19.45 on Wednesday. The stock has a 50 day moving average price of $17.94 and a 200 day moving average price of $15.05. SolarEdge Technologies has a 12-month low of $11.35 and a 12-month high of $21.53. The stock has a market cap of $808.23 million, a P/E ratio of 19.33 and a beta of -0.03.
SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Tuesday, May 9th. The semiconductor company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.09. SolarEdge Technologies had a net margin of 11.85% and a return on equity of 21.03%. The company had revenue of $115.10 million for the quarter, compared to analyst estimates of $114.10 million. During the same period in the prior year, the company posted $0.51 EPS. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, analysts forecast that SolarEdge Technologies will post $1.45 earnings per share for the current fiscal year.
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In other news, Director More Avery sold 20,000 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $19.30, for a total transaction of $386,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Yoav Galin sold 120,000 shares of the stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $14.27, for a total transaction of $1,712,400.00. Following the transaction, the vice president now owns 540,838 shares in the company, valued at $7,717,758.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,018 shares of company stock worth $2,117,192. Insiders own 16.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Aviance Capital Management LLC acquired a new position in SolarEdge Technologies during the first quarter worth about $227,000. Goldman Sachs Group Inc. increased its position in SolarEdge Technologies by 136.1% in the first quarter. Goldman Sachs Group Inc. now owns 139,969 shares of the semiconductor company’s stock worth $2,184,000 after buying an additional 80,686 shares in the last quarter. Sylebra HK Co Ltd increased its position in SolarEdge Technologies by 24.1% in the first quarter. Sylebra HK Co Ltd now owns 2,121,621 shares of the semiconductor company’s stock worth $33,097,000 after buying an additional 412,073 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in SolarEdge Technologies during the first quarter worth about $173,000. Finally, Schwab Charles Investment Management Inc. increased its position in SolarEdge Technologies by 9.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 81,872 shares of the semiconductor company’s stock worth $1,278,000 after buying an additional 7,140 shares in the last quarter. Hedge funds and other institutional investors own 55.61% of the company’s stock.
SolarEdge Technologies Company Profile
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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