SolarEdge Technologies, Inc. (SEDG) Rating Reiterated by Barclays PLC
SolarEdge Technologies, Inc. (NASDAQ:SEDG)‘s stock had its “overweight” rating reissued by equities research analysts at Barclays PLC in a research note issued to investors on Wednesday. They currently have a $28.00 target price on the semiconductor company’s stock, up from their prior target price of $21.00. Barclays PLC’s price objective suggests a potential downside of 0.18% from the stock’s current price.
Other equities research analysts also recently issued research reports about the company. Deutsche Bank AG set a $25.00 price objective on SolarEdge Technologies and gave the company a “buy” rating in a report on Wednesday, June 14th. Zacks Investment Research upgraded SolarEdge Technologies from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Saturday, May 13th. BidaskClub upgraded SolarEdge Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Needham & Company LLC upped their price target on SolarEdge Technologies from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Finally, Cowen and Company reiterated a “buy” rating and set a $24.00 price target on shares of SolarEdge Technologies in a report on Friday, July 14th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and three have given 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.
Shares of SolarEdge Technologies (NASDAQ SEDG) opened at 28.05 on Wednesday. The firm has a market cap of $1.17 billion, a P/E ratio of 27.88 and a beta of 0.04. SolarEdge Technologies has a 12-month low of $11.35 and a 12-month high of $28.80. The stock has a 50 day moving average price of $21.70 and a 200 day moving average price of $17.09.
SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.18. The firm 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 company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.44 earnings per share. On average, equities analysts expect that SolarEdge Technologies will post $1.77 earnings per share for the current year.
In other SolarEdge Technologies news, CFO Ronen Faier sold 20,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $27.24, for a total value of $544,800.00. Following the transaction, the chief financial officer now owns 100,000 shares of the company’s stock, valued at $2,724,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Zvi Lando sold 10,000 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was 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 in the company, valued at approximately $1,147,665.39. The disclosure for this sale can be found here. In the last three months, insiders sold 114,018 shares of company stock worth $2,757,847. Insiders own 16.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SEDG. Sei Investments Co. boosted its position in 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 in the last quarter. AQR Capital Management LLC acquired a new position in SolarEdge Technologies during the fourth quarter valued at $138,000. Edmond DE Rothschild Holding S.A. acquired a new position in SolarEdge Technologies during the first quarter valued at $173,000. Dynamic Technology Lab Private Ltd acquired a new position in SolarEdge Technologies during the first quarter valued at $178,000. Finally, CAPROCK Group Inc. acquired a new position in SolarEdge Technologies during the first quarter valued at $196,000. 57.28% of the stock is currently owned by institutional investors and hedge funds.
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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