SolarEdge Technologies, Inc. (SEDG) Upgraded at CIBC
SolarEdge Technologies, Inc. (NASDAQ:SEDG) was upgraded by stock analysts at CIBC from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday.
Other research analysts also recently issued research reports about the company. Deutsche Bank AG set a $25.00 target price on SolarEdge Technologies and gave the stock a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research upgraded SolarEdge Technologies from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Saturday, May 13th. BidaskClub upgraded SolarEdge Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Needham & Company LLC raised their target price on SolarEdge Technologies from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Cowen and Company restated a “buy” rating and issued a $24.00 target price on shares of SolarEdge Technologies in a research note on Friday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. SolarEdge Technologies has an average rating of “Buy” and a consensus target price of $20.10.
SolarEdge Technologies (NASDAQ SEDG) traded up 0.801% during midday trading on Tuesday, reaching $22.025. 910,117 shares of the company traded hands. The firm has a 50-day moving average price of $19.03 and a 200-day moving average price of $15.51. SolarEdge Technologies has a one year low of $11.35 and a one year high of $22.90. The firm has a market capitalization of $915.23 million, a price-to-earnings ratio of 21.894 and a beta of -0.04.
SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Tuesday, May 9th. The semiconductor company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.23 by $0.09. SolarEdge Technologies had a return on equity of 21.03% and a net margin of 11.85%. The business had revenue of $115.10 million during the quarter, compared to the consensus estimate of $114.10 million. During the same quarter last year, the company earned $0.51 EPS. The firm’s revenue was down 8.1% compared to the same quarter last year. Equities analysts predict that SolarEdge Technologies will post $1.42 EPS for the current fiscal year.
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In other SolarEdge Technologies news, VP Zvi Lando sold 10,000 shares of SolarEdge Technologies stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $20.49, for a total value of $204,900.00. Following the transaction, the vice president now directly owns 56,011 shares of the company’s stock, valued at approximately $1,147,665.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director More Avery sold 20,000 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $19.30, for a total value of $386,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,510 shares of company stock worth $875,774. 16.40% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC bought a new position in shares of SolarEdge Technologies during the fourth quarter worth approximately $7,772,000. IPG Investment Advisors LLC bought a new position in shares of SolarEdge Technologies during the fourth quarter worth approximately $2,409,000. Tinicum Inc bought a new position in shares of SolarEdge Technologies during the fourth quarter worth approximately $7,082,000. Athena Capital Advisors bought a new position in shares of SolarEdge Technologies during the fourth quarter worth approximately $3,203,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of SolarEdge Technologies by 671.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 200,598 shares of the semiconductor company’s stock worth $5,651,000 after buying an additional 174,598 shares during the period. 55.72% of the stock is currently owned by institutional investors and hedge funds.
SolarEdge Technologies Company Profile
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.
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