SolarEdge Technologies, Inc. (NASDAQ:SEDG) received a $30.00 price objective from investment analysts at Deutsche Bank AG in a research report issued to clients and investors on Thursday. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Deutsche Bank AG’s target price suggests a potential upside of 5.82% from the company’s current price.
SEDG has been the subject of several other reports. Vetr raised SolarEdge Technologies from a “sell” rating to a “strong-buy” rating and set a $18.52 target price for the company in a research note on Tuesday, April 11th. ValuEngine downgraded SolarEdge Technologies from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Roth Capital set a $16.00 target price on SolarEdge Technologies and gave the stock a “hold” rating in a research note on Wednesday, May 10th. Cowen and Company reaffirmed a “buy” rating and set a $31.00 target price (up from $24.00) on shares of SolarEdge Technologies in a research note on Thursday. Finally, CIBC raised SolarEdge Technologies from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. SolarEdge Technologies has a consensus rating of “Buy” and an average target price of $23.11.
SolarEdge Technologies (SEDG) traded up 2.72% during midday trading on Thursday, hitting $28.35. 1,888,276 shares of the stock traded hands. The firm has a market cap of $1.18 billion, a PE ratio of 28.18 and a beta of 0.04. The company’s 50 day moving average price is $21.12 and its 200 day moving average price is $16.89. SolarEdge Technologies has a 12 month low of $11.35 and a 12 month high of $28.60.
SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.18. The business had revenue of $136.10 million during the quarter, compared to the consensus estimate of $125.07 million. SolarEdge Technologies had a return on equity of 21.01% and a net margin of 12.64%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 EPS. Equities research analysts predict that SolarEdge Technologies will post $1.61 earnings per share for the current fiscal year.
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In related news, Director More Avery sold 20,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $19.30, for a total value of $386,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Zvi Lando sold 10,000 shares of the stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $20.49, for a total value of $204,900.00. Following the completion of the transaction, the vice president now directly owns 56,011 shares of the company’s stock, valued at $1,147,665.39. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,018 shares of company stock valued at $1,108,947. 16.40% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in SolarEdge Technologies by 601.2% in the second quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock valued at $30,539,000 after buying an additional 1,309,184 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of SolarEdge Technologies by 24.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 101,566 shares of the semiconductor company’s stock worth $2,032,000 after buying an additional 19,694 shares during the period. Trexquant Investment LP bought a new stake in shares of SolarEdge Technologies during the second quarter worth about $354,000. Menora Mivtachim Holdings LTD. increased its stake in shares of SolarEdge Technologies by 26.2% in the second quarter. Menora Mivtachim Holdings LTD. now owns 1,444,013 shares of the semiconductor company’s stock worth $28,880,000 after buying an additional 300,000 shares during the period. Finally, 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 worth $120,000 after buying an additional 4,755 shares during the period. 56.50% of the stock is owned by hedge funds and other institutional investors.
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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