SolarEdge Technologies, Inc. (SEDG) Earns Overweight Rating from Barclays PLC
Barclays PLC reaffirmed their overweight rating on shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) in a report released on Thursday morning, MarketBeat.com reports. They currently have a $28.00 price objective on the semiconductor company’s stock, up from their previous price objective of $21.00.
Several other brokerages have also recently weighed in on SEDG. Vetr upgraded shares of SolarEdge Technologies from a sell rating to a strong-buy rating and set a $18.52 price objective on the stock in a research note on Tuesday, April 11th. ValuEngine cut shares of SolarEdge Technologies from a buy rating to a hold rating in a research note on Friday, June 2nd. BidaskClub cut shares of SolarEdge Technologies from a buy rating to a hold rating in a research note on Thursday, July 6th. FBR & Co reiterated a market perform rating and issued a $50.00 price objective (up previously from $17.00) on shares of SolarEdge Technologies in a research note on Thursday, May 11th. Finally, TheStreet upgraded shares of SolarEdge Technologies from a d rating to a c rating in a research note on Wednesday, April 26th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. SolarEdge Technologies presently has a consensus rating of Buy and a consensus price target of $23.11.
Shares of SolarEdge Technologies (NASDAQ:SEDG) traded up 2.72% during mid-day trading on Thursday, reaching $28.35. 1,888,276 shares of the company’s stock traded hands. SolarEdge Technologies has a 12-month low of $11.35 and a 12-month high of $28.60. The firm’s 50 day moving average price is $21.12 and its 200-day moving average price is $16.89. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 28.18 and a beta of 0.04.
SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.18. The firm had revenue of $136.10 million for 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%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 EPS. Equities research analysts forecast that SolarEdge Technologies will post $1.61 earnings per share for the current year.
In other SolarEdge Technologies news, VP Zvi Lando sold 10,508 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $22.19, for a total transaction of $233,172.52. Following the sale, the vice president now owns 56,519 shares in the company, valued at approximately $1,254,156.61. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Lior Handelsman sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $21.44, for a total transaction of $107,200.00. Following the sale, the vice president now owns 251,814 shares in the company, valued at approximately $5,398,892.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,018 shares of company stock worth $1,108,947. 16.40% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its stake in SolarEdge Technologies by 215.3% in the first quarter. Stifel Financial Corp now owns 45,217 shares of the semiconductor company’s stock worth $705,000 after buying an additional 30,878 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in SolarEdge Technologies during the first quarter worth approximately $178,000. Swiss National Bank boosted its stake in SolarEdge Technologies by 7.5% in the first quarter. Swiss National Bank now owns 37,400 shares of the semiconductor company’s stock worth $583,000 after buying an additional 2,600 shares during the last quarter. First Trust Advisors LP boosted its stake in SolarEdge Technologies by 39.2% in the first quarter. First Trust Advisors LP now owns 90,885 shares of the semiconductor company’s stock worth $1,418,000 after buying an additional 25,617 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in SolarEdge Technologies during the fourth quarter worth approximately $138,000. Institutional investors own 56.50% of the company’s stock.
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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