Solaredge Technologies Inc (NASDAQ:SEDG) Given Consensus Recommendation of “Buy” by Brokerages

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Solaredge Technologies Inc (NASDAQ:SEDG) has received an average recommendation of “Buy” from the thirteen analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $60.40.

Several equities analysts have commented on the company. Cowen upped their price objective on Solaredge Technologies from $65.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Goldman Sachs Group raised Solaredge Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the company from $35.00 to $52.00 in a research report on Monday, June 17th. Credit Suisse Group raised Mosaic from a “neutral” rating to an “outperform” rating and cut their price objective for the company from $30.00 to $28.00 in a research report on Tuesday, May 7th. Zacks Investment Research downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. Finally, JPMorgan Chase & Co. reaffirmed a “sell” rating and issued a $60.00 price objective on shares of Bayerische Motoren Werke in a research report on Tuesday, May 7th.

In other news, Director More Avery sold 5,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $55.10, for a total transaction of $275,500.00. Following the transaction, the director now owns 588,291 shares of the company’s stock, valued at approximately $32,414,834.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 9,439 shares of company stock worth $502,641 in the last three months. Corporate insiders own 7.90% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Solaredge Technologies by 3.1% during the fourth quarter. BlackRock Inc. now owns 4,421,944 shares of the semiconductor company’s stock valued at $155,209,000 after purchasing an additional 130,974 shares in the last quarter. Swedbank bought a new stake in Solaredge Technologies during the second quarter valued at about $124,959,000. Clal Insurance Enterprises Holdings Ltd boosted its position in Solaredge Technologies by 24.2% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,679,446 shares of the semiconductor company’s stock valued at $63,282,000 after purchasing an additional 326,831 shares in the last quarter. Psagot Investment House Ltd. boosted its position in Solaredge Technologies by 2.5% during the first quarter. Psagot Investment House Ltd. now owns 902,759 shares of the semiconductor company’s stock valued at $34,016,000 after purchasing an additional 21,811 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its position in Solaredge Technologies by 25.8% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 833,383 shares of the semiconductor company’s stock valued at $31,401,000 after purchasing an additional 171,083 shares in the last quarter. 86.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of SEDG traded up $0.59 during mid-day trading on Friday, hitting $61.99. 13,544 shares of the stock were exchanged, compared to its average volume of 503,014. The stock has a market cap of $2.91 billion, a P/E ratio of 22.82, a PEG ratio of 1.12 and a beta of 0.15. Solaredge Technologies has a 52-week low of $32.42 and a 52-week high of $64.21. The stock has a 50-day simple moving average of $58.93. The company has a current ratio of 2.89, a quick ratio of 2.28 and a debt-to-equity ratio of 0.05.

Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.14). The company had revenue of $271.90 million for the quarter, compared to analysts’ expectations of $266.11 million. Solaredge Technologies had a net margin of 11.23% and a return on equity of 19.57%. The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 EPS. On average, analysts predict that Solaredge Technologies will post 2.5 EPS for the current fiscal year.

About Solaredge Technologies

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.

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Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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