Solaredge Technologies (SEDG) Now Covered by Vertical Group

Equities researchers at Vertical Group initiated coverage on shares of Solaredge Technologies (NASDAQ:SEDG) in a research report issued to clients and investors on Thursday. The brokerage set a “sell” rating on the semiconductor company’s stock.

Several other analysts have also issued reports on the company. ValuEngine lowered Solaredge Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Deutsche Bank lowered Solaredge Technologies from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research note on Monday, November 27th. Zacks Investment Research upgraded Solaredge Technologies from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective on the stock in a research note on Tuesday, November 14th. JPMorgan Chase & Co. upped their price objective on Solaredge Technologies to $43.00 and gave the company an “overweight” rating in a research note on Thursday, November 9th. Finally, BidaskClub lowered Solaredge Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $34.19.

Solaredge Technologies (SEDG) traded down $1.20 during trading hours on Thursday, reaching $36.30. The firm has a market cap of $1,560.00 and a price-to-earnings ratio of 21.87. Solaredge Technologies has a 52 week low of $12.25 and a 52 week high of $39.90.

Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, November 8th. The semiconductor company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.16. Solaredge Technologies had a return on equity of 22.07% and a net margin of 14.06%. equities research analysts predict that Solaredge Technologies will post 1.91 EPS for the current fiscal year.

In other news, VP Yoav Galin sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $32.82, for a total transaction of $328,200.00. Following the transaction, the vice president now owns 35,000 shares in the company, valued at $1,148,700. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ronen Faier sold 33,032 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $39.02, for a total value of $1,288,908.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 156,320 shares of company stock worth $5,835,799. 16.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SEDG. Sei Investments Co. increased its stake in shares of Solaredge Technologies by 380.4% during the second quarter. Sei Investments Co. now owns 6,005 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 4,755 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Solaredge Technologies by 24.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 101,566 shares of the semiconductor company’s stock worth $2,032,000 after purchasing an additional 19,694 shares during the period. Swiss National Bank increased its stake in shares of Solaredge Technologies by 19.5% during the second quarter. Swiss National Bank now owns 44,700 shares of the semiconductor company’s stock worth $894,000 after purchasing an additional 7,300 shares during the period. Schroder Investment Management Group grew its position in Solaredge Technologies by 2.4% during the second quarter. Schroder Investment Management Group now owns 138,517 shares of the semiconductor company’s stock worth $2,791,000 after buying an additional 3,310 shares in the last quarter. Finally, Engineers Gate Manager LP grew its position in Solaredge Technologies by 30.5% during the second quarter. Engineers Gate Manager LP now owns 47,390 shares of the semiconductor company’s stock worth $948,000 after buying an additional 11,080 shares in the last quarter. Institutional investors own 67.53% of the company’s stock.

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About Solaredge Technologies

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.

Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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