SolarEdge Technologies, Inc. (NASDAQ:SEDG)‘s stock had its “buy” rating reissued by equities researchers at Cowen and Company in a research report issued on Friday, July 14th. They presently have a $24.00 target price on the semiconductor company’s stock. Cowen and Company’s price objective would suggest a potential downside of 15.34% from the stock’s previous close.
SEDG has been the topic of several other research reports. Vetr upgraded shares of SolarEdge Technologies from a “sell” rating to a “strong-buy” rating and set a $18.52 price target on the stock in a research note on Tuesday, April 11th. Axiom Securities reiterated a “sell” rating on shares of SolarEdge Technologies in a research note on Friday, June 9th. Deutsche Bank AG set a $25.00 price target on shares of SolarEdge Technologies and gave the stock a “buy” rating in a research note on Wednesday, June 14th. BidaskClub upgraded shares of SolarEdge Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Zacks Investment Research upgraded shares of SolarEdge Technologies from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Saturday, May 13th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $23.11.
SolarEdge Technologies (NASDAQ:SEDG) opened at 28.35 on Friday. SolarEdge Technologies has a 52 week low of $11.35 and a 52 week high of $28.60. The company has a market capitalization of $1.18 billion, a P/E ratio of 28.18 and a beta of 0.04. The stock’s 50 day moving average price is $21.12 and its 200 day moving average price is $16.89.
SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.18. The company had revenue of $136.10 million during the quarter, compared to the consensus estimate of $125.07 million. SolarEdge Technologies had a net margin of 12.64% and a return on equity of 21.01%. SolarEdge Technologies’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS. Analysts anticipate that SolarEdge Technologies will post $1.61 earnings per share for the current 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 Zvi Lando sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $20.49, for a total transaction of $204,900.00. Following the transaction, the vice president now owns 56,011 shares in the company, valued at $1,147,665.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,018 shares of company stock worth $1,108,947. Insiders own 16.40% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Sei Investments Co. increased its stake in shares of SolarEdge Technologies by 380.4% in the second quarter. Sei Investments Co. now owns 6,005 shares of the semiconductor company’s stock valued at $120,000 after buying an additional 4,755 shares during the period. AQR Capital Management LLC purchased a new stake in shares of SolarEdge Technologies during the fourth quarter valued at $138,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of SolarEdge Technologies during the first quarter valued at $173,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of SolarEdge Technologies during the first quarter valued at $178,000. Finally, CAPROCK Group Inc. purchased a new stake in shares of SolarEdge Technologies during the first quarter valued at $196,000. Institutional investors own 56.50% of the company’s stock.
About SolarEdge Technologies
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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