Solaredge Technologies (NASDAQ:SEDG) Coverage Initiated at Needham & Company LLC

Share on StockTwits

Needham & Company LLC began coverage on shares of Solaredge Technologies (NASDAQ:SEDG) in a research report report published on Monday, AnalystRatings.com reports. The firm issued a buy rating and a $102.00 price target on the semiconductor company’s stock.

Other equities analysts have also issued research reports about the company. Cowen set a $85.00 target price on Solaredge Technologies and gave the company a buy rating in a research note on Wednesday, August 7th. Roth Capital lowered their price target on Solaredge Technologies from $105.00 to $100.00 in a report on Monday, November 25th. Oppenheimer raised their price target on Solaredge Technologies from $66.00 to $78.00 and gave the stock an outperform rating in a report on Wednesday, August 7th. Credit Suisse Group raised their price target on Solaredge Technologies from $70.00 to $80.00 and gave the stock a neutral rating in a report on Friday, September 20th. Finally, TheStreet raised Solaredge Technologies from a c+ rating to a b- rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $87.31.

SEDG opened at $81.72 on Monday. The business’s 50-day moving average is $83.05 and its two-hundred day moving average is $73.12. Solaredge Technologies has a 1 year low of $32.42 and a 1 year high of $96.69. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.49 and a quick ratio of 2.09. The firm has a market capitalization of $3.97 billion, a PE ratio of 30.38, a price-to-earnings-growth ratio of 1.21 and a beta of 0.02.

Solaredge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.22. Solaredge Technologies had a return on equity of 15.89% and a net margin of 8.39%. The company had revenue of $410.56 million for the quarter, compared to analyst estimates of $402.89 million. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The firm’s quarterly revenue was up 73.5% compared to the same quarter last year. As a group, sell-side analysts expect that Solaredge Technologies will post 3.06 EPS for the current year.

In related news, Director More Avery sold 14,891 shares of Solaredge Technologies stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $81.14, for a total transaction of $1,208,255.74. Following the completion of the sale, the director now owns 585,611 shares of the company’s stock, valued at $47,516,476.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Zvi Lando sold 28,603 shares of Solaredge Technologies stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $77.95, for a total value of $2,229,603.85. In the last three months, insiders sold 118,026 shares of company stock valued at $9,460,907. Corporate insiders own 7.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Man Group plc acquired a new stake in shares of Solaredge Technologies during the third quarter worth about $1,065,000. Squarepoint Ops LLC lifted its holdings in shares of Solaredge Technologies by 4.4% during the third quarter. Squarepoint Ops LLC now owns 81,362 shares of the semiconductor company’s stock worth $6,812,000 after purchasing an additional 3,446 shares during the period. Tenzing Global Management LLC acquired a new stake in shares of Solaredge Technologies during the third quarter worth about $3,767,000. Voloridge Investment Management LLC lifted its holdings in shares of Solaredge Technologies by 83.4% during the third quarter. Voloridge Investment Management LLC now owns 35,555 shares of the semiconductor company’s stock worth $2,977,000 after purchasing an additional 16,173 shares during the period. Finally, Penserra Capital Management LLC acquired a new stake in shares of Solaredge Technologies during the third quarter worth about $9,855,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Article: What is the significance of a dead cat bounce?

Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

Receive News & Ratings for Solaredge Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solaredge Technologies and related companies with MarketBeat.com's FREE daily email newsletter.