Solaredge Technologies (SEDG) Given a $48.00 Price Target by B. Riley Analysts

B. Riley set a $48.00 target price on Solaredge Technologies (NASDAQ:SEDG) in a research note published on Thursday, MarketBeat.com reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Other analysts also recently issued research reports about the stock. Roth Capital upped their price target on shares of Solaredge Technologies from $36.00 to $42.00 and gave the company a buy rating in a report on Thursday, November 9th. Needham & Company LLC upped their price target on shares of Solaredge Technologies from $30.00 to $42.00 and gave the company a buy rating in a report on Thursday, November 9th. Canaccord Genuity reaffirmed a buy rating and issued a $36.00 price target (up previously from $30.00) on shares of Solaredge Technologies in a report on Monday, November 6th. BidaskClub downgraded shares of Solaredge Technologies from a strong-buy rating to a buy rating in a report on Saturday, December 2nd. Finally, ValuEngine raised shares of Solaredge Technologies from a hold rating to a buy rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $42.04.

Shares of Solaredge Technologies (NASDAQ:SEDG) opened at $46.00 on Thursday. The company has a market cap of $1,978.60, a PE ratio of 20.63, a P/E/G ratio of 0.98 and a beta of 0.03. Solaredge Technologies has a fifty-two week low of $13.50 and a fifty-two week high of $47.15.

Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.29. The firm had revenue of $189.34 million for the quarter, compared to the consensus estimate of $179.78 million. Solaredge Technologies had a net margin of 13.87% and a return on equity of 29.21%. analysts anticipate that Solaredge Technologies will post 2.15 earnings per share for the current fiscal year.

In other news, VP Lior Handelsman sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $36.25, for a total value of $181,250.00. Following the completion of the transaction, the vice president now owns 177,950 shares of the company’s stock, valued at $6,450,687.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Guy Sella sold 216,666 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $42.15, for a total transaction of $9,132,471.90. Following the completion of the transaction, the chief executive officer now directly owns 73,333 shares of the company’s stock, valued at approximately $3,090,985.95. The disclosure for this sale can be found here. In the last three months, insiders sold 416,914 shares of company stock valued at $17,159,064. Company insiders own 16.40% of the company’s stock.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Solaredge Technologies by 7.3% in the fourth quarter. BlackRock Inc. now owns 3,155,082 shares of the semiconductor company’s stock valued at $118,474,000 after buying an additional 214,504 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Solaredge Technologies by 16.6% in the third quarter. Bank of New York Mellon Corp now owns 1,781,003 shares of the semiconductor company’s stock valued at $50,849,000 after buying an additional 254,056 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Solaredge Technologies by 435.7% in the second quarter. Janus Henderson Group PLC now owns 946,920 shares of the semiconductor company’s stock valued at $18,932,000 after buying an additional 770,166 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Solaredge Technologies by 3.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 703,910 shares of the semiconductor company’s stock valued at $26,432,000 after buying an additional 25,772 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Solaredge Technologies by 2,778.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 670,681 shares of the semiconductor company’s stock valued at $25,184,000 after buying an additional 647,381 shares during the last quarter. 66.34% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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