Deutsche Bank Raises Solaredge Technologies (SEDG) Price Target to $45.00

Solaredge Technologies (NASDAQ:SEDG) had its target price hoisted by equities research analysts at Deutsche Bank from $40.00 to $45.00 in a research note issued on Thursday. The brokerage presently has a “hold” rating on the semiconductor company’s stock. Deutsche Bank’s target price would suggest a potential downside of 2.17% from the company’s previous close.

A number of other brokerages have also commented on SEDG. B. Riley upgraded Solaredge Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $18.00 to $45.00 in a report on Thursday, November 9th. Vertical Group upgraded Solaredge Technologies from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research lowered Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 10th. Vertical Research upgraded Solaredge Technologies from a “hold” rating to a “buy” rating in a report on Thursday. Finally, BidaskClub lowered Solaredge Technologies from a “buy” rating to a “hold” rating in a report on Friday, February 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Solaredge Technologies has an average rating of “Buy” and an average target price of $42.04.

Solaredge Technologies (SEDG) traded up $0.15 during mid-day trading on Thursday, hitting $46.00. The stock had a trading volume of 1,171,880 shares, compared to its average volume of 836,309. Solaredge Technologies has a 52 week low of $13.50 and a 52 week high of $47.15. The company has a market capitalization of $1,990.00 and a price-to-earnings ratio of 27.71.

Solaredge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, February 14th. The semiconductor company reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.29. Solaredge Technologies had a return on equity of 30.51% and a net margin of 13.87%. The company had revenue of $189.34 million for the quarter, compared to analyst estimates of $179.78 million. equities analysts predict that Solaredge Technologies will post 1.95 earnings per share for the current fiscal year.

In other Solaredge Technologies news, VP Yoav Galin sold 35,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $44.33, for a total value of $1,551,550.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ronen Faier sold 36,868 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $44.30, for a total value of $1,633,252.40. Following the completion of the sale, the chief financial officer now directly owns 28,634 shares of the company’s stock, valued at $1,268,486.20. The disclosure for this sale can be found here. Insiders sold 416,914 shares of company stock valued at $17,159,064 over the last three months. Company insiders own 16.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its position in Solaredge Technologies by 19.5% in the third quarter. Wells Fargo & Company MN now owns 10,291 shares of the semiconductor company’s stock worth $294,000 after buying an additional 1,680 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in Solaredge Technologies in the fourth quarter worth $102,000. First Trust Advisors LP increased its position in Solaredge Technologies by 3.5% in the fourth quarter. First Trust Advisors LP now owns 82,852 shares of the semiconductor company’s stock worth $3,111,000 after buying an additional 2,772 shares during the last quarter. Meadow Creek Investment Management LLC purchased a new stake in Solaredge Technologies in the fourth quarter worth $109,000. Finally, Northern Trust Corp increased its position in Solaredge Technologies by 3.3% in the second quarter. Northern Trust Corp now owns 102,236 shares of the semiconductor company’s stock worth $2,046,000 after buying an additional 3,297 shares during the last quarter. 66.34% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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