Solaredge Technologies (NASDAQ:SEDG) Stock Rating Reaffirmed by Northland Securities

Northland Securities restated their buy rating on shares of Solaredge Technologies (NASDAQ:SEDG) in a research report released on Thursday, November 7th, AnalystRatings.com reports.

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Other analysts also recently issued reports about the company. Roth Capital lifted their price objective on Solaredge Technologies from $70.00 to $105.00 and gave the company a buy rating in a report on Wednesday, August 7th. Cowen set a $85.00 price objective on Solaredge Technologies and gave the company a buy rating in a report on Wednesday, August 7th. Zacks Investment Research downgraded shares of Solaredge Technologies from a strong-buy rating to a hold rating in a report on Wednesday, October 9th. Credit Suisse Group boosted their target price on shares of Solaredge Technologies from $70.00 to $80.00 and gave the stock a neutral rating in a report on Friday, September 20th. Finally, Oppenheimer boosted their target price on shares of Solaredge Technologies from $66.00 to $78.00 and gave the stock an outperform rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $85.75.

Shares of SEDG traded up $0.72 on Thursday, reaching $78.96. The company’s stock had a trading volume of 822,200 shares, compared to its average volume of 1,543,511. The stock has a market capitalization of $3.80 billion, a P/E ratio of 29.35, a PEG ratio of 1.16 and a beta of 0.05. Solaredge Technologies has a 12-month low of $32.42 and a 12-month high of $96.69. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.49 and a quick ratio of 2.09. The stock’s 50 day simple moving average is $84.91 and its two-hundred day simple moving average is $70.47.

Solaredge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, November 6th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.22. The firm had revenue of $410.56 million during the quarter, compared to analyst estimates of $402.89 million. Solaredge Technologies had a net margin of 8.39% and a return on equity of 15.89%. The business’s revenue was up 73.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 earnings per share. Analysts expect that Solaredge Technologies will post 3.06 earnings per share for the current year.

In other Solaredge Technologies news, VP Yoav Galin sold 97,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $84.22, for a total value of $8,211,450.00. Following the sale, the vice president now owns 59,030 shares in the company, valued at approximately $4,971,506.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Ronen Faier sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $84.63, for a total value of $4,231,500.00. Following the transaction, the chief financial officer now directly owns 124,200 shares of the company’s stock, valued at $10,511,046. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,203 shares of company stock worth $20,802,997. 7.90% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. First Trust Advisors LP raised its stake in Solaredge Technologies by 2.3% in the 1st quarter. First Trust Advisors LP now owns 70,405 shares of the semiconductor company’s stock valued at $2,653,000 after purchasing an additional 1,581 shares during the last quarter. Swedbank acquired a new position in Solaredge Technologies in the 2nd quarter valued at $124,959,000. KAMES CAPITAL plc acquired a new position in Solaredge Technologies in the 2nd quarter valued at $17,050,000. Crossmark Global Holdings Inc. acquired a new position in Solaredge Technologies in the 2nd quarter valued at $234,000. Finally, Ayalon Holdings Ltd. raised its stake in Solaredge Technologies by 581.3% in the 2nd quarter. Ayalon Holdings Ltd. now owns 24,179 shares of the semiconductor company’s stock valued at $1,506,000 after purchasing an additional 20,630 shares during the last quarter. 79.12% of the stock is 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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