Solaredge Technologies (NASDAQ:SEDG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “SolarEdge Technologies, Inc. provides inverter solution. The company’s SolarEdge system offers power optimizers, inverters and a cloud-based monitoring platform. It serves residential solar installations to commercial and small utility-scale solar installations. SolarEdge Technologies, Inc. is headquartered in Hod Hasharon, Israel. “

Other research analysts have also recently issued reports about the stock. B. Riley set a $64.00 target price on shares of Solaredge Technologies and gave the stock a “buy” rating in a report on Friday, August 3rd. ValuEngine cut shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Roth Capital set a $60.00 target price on shares of Solaredge Technologies and gave the stock a “buy” rating in a report on Friday, August 3rd. BidaskClub cut shares of Solaredge Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. Finally, JPMorgan Chase & Co. set a $63.00 target price on shares of Solaredge Technologies and gave the stock a “buy” rating in a report on Wednesday, September 19th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $55.00.

NASDAQ SEDG traded down $0.33 during trading hours on Thursday, reaching $37.43. 555,672 shares of the company’s stock traded hands, compared to its average volume of 1,196,618. Solaredge Technologies has a 52-week low of $30.80 and a 52-week high of $70.74. The stock has a market cap of $1.77 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 0.64 and a beta of -0.41.

Solaredge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Solaredge Technologies had a net margin of 15.69% and a return on equity of 33.12%. The company had revenue of $236.60 million during the quarter, compared to analysts’ expectations of $234.19 million. During the same period last year, the company posted $0.66 EPS. Solaredge Technologies’s revenue was up 42.1% on a year-over-year basis. On average, research analysts anticipate that Solaredge Technologies will post 2.73 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. grew its stake in shares of Solaredge Technologies by 16.1% in the first quarter. Russell Investments Group Ltd. now owns 11,709 shares of the semiconductor company’s stock worth $616,000 after acquiring an additional 1,628 shares during the period. UBS Group AG grew its stake in shares of Solaredge Technologies by 149.1% in the first quarter. UBS Group AG now owns 65,548 shares of the semiconductor company’s stock worth $3,447,000 after acquiring an additional 39,239 shares during the period. Legal & General Group Plc grew its stake in shares of Solaredge Technologies by 20.9% in the first quarter. Legal & General Group Plc now owns 68,934 shares of the semiconductor company’s stock worth $3,585,000 after acquiring an additional 11,923 shares during the period. Xact Kapitalforvaltning AB bought a new stake in shares of Solaredge Technologies in the first quarter worth approximately $203,000. Finally, Principal Financial Group Inc. grew its stake in shares of Solaredge Technologies by 2.8% in the first quarter. Principal Financial Group Inc. now owns 278,011 shares of the semiconductor company’s stock worth $14,623,000 after acquiring an additional 7,643 shares during the period. 75.94% of the stock is owned by institutional investors and hedge funds.

Solaredge Technologies Company Profile

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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