Solaredge Technologies (NASDAQ:SEDG) had its target price lifted by analysts at Cowen from $65.00 to $74.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Cowen’s target price would indicate a potential upside of 19.12% from the stock’s current price.
Other equities research analysts also recently issued research reports about the stock. JMP Securities downgraded shares of MFA FINL INC/SH from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 7th. ValuEngine upgraded shares of XOMA from a “sell” rating to a “hold” rating in a research note on Friday, May 24th. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. Credit Suisse Group upgraded shares of Mosaic from a “neutral” rating to an “outperform” rating and reduced their target price for the company from $30.00 to $28.00 in a research note on Tuesday, May 7th. Finally, Roth Capital boosted their target price on shares of Solaredge Technologies from $50.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $60.36.
SEDG traded up $1.36 during trading on Friday, reaching $62.12. 369,139 shares of the company’s stock were exchanged, compared to its average volume of 513,699. Solaredge Technologies has a fifty-two week low of $32.42 and a fifty-two week high of $64.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.89 and a quick ratio of 2.28. The firm has a 50 day moving average of $58.09. The company has a market cap of $2.94 billion, a P/E ratio of 23.09, a P/E/G ratio of 1.13 and a beta of 0.15.
Solaredge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.14). Solaredge Technologies had a return on equity of 19.57% and a net margin of 11.23%. The business had revenue of $271.90 million for the quarter, compared to analyst estimates of $266.11 million. During the same quarter in the prior year, the firm earned $0.87 EPS. The firm’s quarterly revenue was up 29.5% on a year-over-year basis. Sell-side analysts anticipate that Solaredge Technologies will post 2.5 earnings per share for the current fiscal year.
In related news, Director More Avery sold 5,000 shares of Solaredge Technologies stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $55.10, for a total value of $275,500.00. Following the completion of the transaction, the director now directly owns 588,291 shares of the company’s stock, valued at $32,414,834.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 9,439 shares of company stock valued at $502,641 over the last ninety days. 7.90% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group raised its position in Solaredge Technologies by 298.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 661 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 495 shares during the last quarter. AlphaOne Investment Services LLC bought a new position in shares of Solaredge Technologies in the 4th quarter worth approximately $31,000. Semmax Financial Advisors Inc. bought a new position in shares of Solaredge Technologies in the 4th quarter worth approximately $31,000. Trust Co. of Vermont raised its position in shares of Solaredge Technologies by 86.0% in the 1st quarter. Trust Co. of Vermont now owns 941 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 435 shares in the last quarter. Finally, NumerixS Investment Technologies Inc raised its position in shares of Solaredge Technologies by 44.4% in the 1st quarter. NumerixS Investment Technologies Inc now owns 2,600 shares of the semiconductor company’s stock worth $98,000 after acquiring an additional 800 shares in the last quarter. 82.19% of the stock is owned by institutional investors and hedge funds.
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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