Shares of Solaredge Technologies Inc (NASDAQ:SEDG) have earned an average recommendation of “Buy” from the fifteen ratings firms that are presently covering the firm. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $19.88.

Several analysts have weighed in on SEDG shares. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price objective on shares of Solaredge Technologies in a research report on Wednesday, February 15th. JMP Securities raised Solaredge Technologies from a “market perform” rating to an “outperform” rating and set a $19.00 price objective on the stock in a research report on Friday, March 3rd. Cowen and Company set a $21.00 price objective on Solaredge Technologies and gave the company an “outperform” rating in a research report on Wednesday, May 10th. FBR & Co reaffirmed a “market perform” rating and set a $50.00 price objective (up from $17.00) on shares of Solaredge Technologies in a research report on Thursday, May 11th. Finally, Goldman Sachs Group Inc reaffirmed a “sell” rating on shares of Solaredge Technologies in a research report on Friday, February 10th.

Solaredge Technologies (NASDAQ:SEDG) traded down 1.33% on Friday, reaching $18.60. The company had a trading volume of 398,021 shares. The firm has a market capitalization of $772.90 million, a price-to-earnings ratio of 18.49 and a beta of -0.25. Solaredge Technologies has a one year low of $11.35 and a one year high of $22.95. The company’s 50 day moving average is $16.67 and its 200-day moving average is $14.46.

Solaredge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Tuesday, May 9th. The semiconductor company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.09. The business had revenue of $115.10 million for the quarter, compared to analysts’ expectations of $114.10 million. Solaredge Technologies had a return on equity of 29.93% and a net margin of 15.46%. The business’s revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. On average, equities research analysts expect that Solaredge Technologies will post $1.43 earnings per share for the current fiscal year.

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In other news, VP Yoav Galin sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $14.27, for a total value of $1,712,400.00. Following the sale, the vice president now directly owns 540,838 shares of the company’s stock, valued at approximately $7,717,758.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 26.52% of the company’s stock.

Several hedge funds have recently modified their holdings of SEDG. AQR Capital Management LLC bought a new stake in shares of Solaredge Technologies during the fourth quarter worth approximately $138,000. Koch Industries Inc. purchased a new position in shares of Solaredge Technologies during the fourth quarter worth $141,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Solaredge Technologies during the first quarter worth $173,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Solaredge Technologies during the first quarter worth $178,000. Finally, CAPROCK Group Inc. purchased a new position in shares of Solaredge Technologies during the first quarter worth $196,000. 61.51% of the stock is currently owned by hedge funds and other institutional investors.

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.

12 Month Chart for NASDAQ:SEDG

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