SolarEdge Technologies, Inc. (NASDAQ:SEDG) Given Average Recommendation of "Moderate Buy" by Brokerages
Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twenty-two research firms that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $336.38.
Several brokerages have issued reports on SEDG. Bank of America lowered SolarEdge Technologies from a "buy" rating to a "neutral" rating and dropped their target price for the company from $320.00 to $181.00 in a research report on Wednesday, August 16th. Wells Fargo & Company decreased their price target on shares of SolarEdge Technologies from $374.00 to $253.00 in a research note on Friday, August 4th. BMO Capital Markets decreased their price target on shares of SolarEdge Technologies from $368.00 to $285.00 and set an "outperform" rating for the company in a research note on Wednesday, August 2nd. The Goldman Sachs Group decreased their price target on shares of SolarEdge Technologies from $414.00 to $353.00 and set a "buy" rating for the company in a research note on Wednesday, August 2nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of SolarEdge Technologies from $393.00 to $359.00 in a research note on Wednesday, July 19th.
Check Out Our Latest Stock Analysis on SEDG
In related news, CFO Ronen Faier purchased 875 shares of the business's stock in a transaction on Wednesday, August 9th. The shares were bought at an average cost of $180.10 per share, with a total value of $157,587.50. Following the transaction, the chief financial officer now owns 73,414 shares of the company's stock, valued at $13,221,861.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.17% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SEDG. Baillie Gifford & Co. grew its position in shares of SolarEdge Technologies by 2,364.6% during the 1st quarter. Baillie Gifford & Co. now owns 931,431 shares of the semiconductor company's stock valued at $283,108,000 after acquiring an additional 893,639 shares during the period. UniSuper Management Pty Ltd acquired a new stake in shares of SolarEdge Technologies during the 2nd quarter valued at about $129,364,000. Senvest Management LLC grew its position in shares of SolarEdge Technologies by 124.3% during the 4th quarter. Senvest Management LLC now owns 759,071 shares of the semiconductor company's stock valued at $215,022,000 after acquiring an additional 420,689 shares during the period. Norges Bank acquired a new stake in shares of SolarEdge Technologies during the 4th quarter valued at about $115,423,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of SolarEdge Technologies by 432.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 395,823 shares of the semiconductor company's stock valued at $120,311,000 after acquiring an additional 321,509 shares during the period. 83.23% of the stock is owned by institutional investors and hedge funds.
SEDG opened at $161.70 on Friday. The firm has a market cap of $9.15 billion, a P/E ratio of 31.28, a P/E/G ratio of 0.87 and a beta of 1.34. SolarEdge Technologies has a 12 month low of $156.47 and a 12 month high of $345.80. The company has a current ratio of 3.84, a quick ratio of 2.75 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $228.33 and a 200 day moving average of $273.32.
SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its earnings results on Tuesday, August 1st. The semiconductor company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.01. SolarEdge Technologies had a return on equity of 18.19% and a net margin of 8.29%. The business had revenue of $991.29 million during the quarter, compared to analyst estimates of $989.17 million. As a group, research analysts forecast that SolarEdge Technologies will post 7.36 EPS for the current year.
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates in Solar and All Other segments. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.
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