BidaskClub upgraded shares of Solaredge Technologies (NASDAQ:SEDG) from a hold rating to a buy rating in a report published on Monday, February 4th.
Several other equities analysts also recently commented on SEDG. Zacks Investment Research upgraded shares of Solaredge Technologies from a sell rating to a hold rating in a research note on Thursday, November 8th. ValuEngine upgraded shares of Solaredge Technologies from a sell rating to a hold rating in a research note on Thursday, December 6th. JMP Securities downgraded shares of Solaredge Technologies from a market perform rating to an underperform rating and set a $31.00 price objective on the stock. in a research note on Thursday, January 17th. They noted that the move was a valuation call. B. Riley set a $60.00 price objective on shares of Solaredge Technologies and gave the stock a buy rating in a research note on Friday, November 2nd. Finally, Cascend Securities raised shares of Solaredge Technologies from a hold rating to a buy rating and set a $50.00 target price for the company in a report on Thursday, January 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $54.42.
Shares of SEDG opened at $41.34 on Monday. The stock has a market capitalization of $1.91 billion, a PE ratio of 15.37, a P/E/G ratio of 0.67 and a beta of 0.23. Solaredge Technologies has a fifty-two week low of $32.42 and a fifty-two week high of $70.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.30 and a current ratio of 3.00.
Solaredge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, February 20th. The semiconductor company reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.29). Solaredge Technologies had a net margin of 13.75% and a return on equity of 25.33%. The company had revenue of $263.67 million during the quarter, compared to the consensus estimate of $249.68 million. During the same period in the previous year, the company earned $0.85 earnings per share. Solaredge Technologies’s revenue for the quarter was up 39.3% compared to the same quarter last year. Equities research analysts anticipate that Solaredge Technologies will post 2.51 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Rehmann Capital Advisory Group raised its holdings in Solaredge Technologies by 298.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 661 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 495 shares during the last quarter. AlphaOne Investment Services LLC bought a new position in Solaredge Technologies during the 4th quarter worth approximately $31,000. Semmax Financial Advisors Inc. bought a new position in Solaredge Technologies during the 4th quarter worth approximately $31,000. Public Employees Retirement Association of Colorado bought a new position in Solaredge Technologies during the 3rd quarter worth approximately $127,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Solaredge Technologies by 20.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,989 shares of the semiconductor company’s stock worth $140,000 after purchasing an additional 681 shares during the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.
About Solaredge Technologies
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in Israel, the United States, the Netherlands, Europe, and internationally. The company's DC optimized inverter systems include power optimizers and inverters, as well as a cloud-based monitoring platform.
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