Solaredge Technologies Inc (SEDG) Given Average Rating of “Hold” by Analysts

Solaredge Technologies Inc (NASDAQ:SEDG) has been given a consensus rating of “Hold” by the fifteen analysts that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $55.18.

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. set a $63.00 price target on Solaredge Technologies and gave the stock a “buy” rating in a research report on Wednesday, September 19th. BidaskClub lowered Solaredge Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Zacks Investment Research lowered Solaredge Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. B. Riley set a $64.00 price target on Solaredge Technologies and gave the stock a “buy” rating in a research report on Friday, August 3rd. Finally, ValuEngine lowered Solaredge Technologies from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd.

SEDG stock traded down $0.34 during trading on Friday, reaching $37.42. 12,999 shares of the company’s stock were exchanged, compared to its average volume of 1,199,142. Solaredge Technologies has a 1-year low of $30.80 and a 1-year high of $70.74. The firm has a market capitalization of $1.72 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 0.63 and a beta of -0.41.

Solaredge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.04. Solaredge Technologies had a return on equity of 33.12% and a net margin of 15.69%. The company had revenue of $236.60 million during the quarter, compared to analyst estimates of $234.19 million. During the same quarter in the previous year, the firm posted $0.66 EPS. The firm’s quarterly revenue was up 42.1% on a year-over-year basis. As a group, analysts predict that Solaredge Technologies will post 2.73 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of SEDG. Menora Mivtachim Holdings LTD. raised its stake in shares of Solaredge Technologies by 56.2% in the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 3,139,422 shares of the semiconductor company’s stock worth $150,221,000 after buying an additional 1,129,338 shares in the last quarter. NN Investment Partners Holdings N.V. raised its position in shares of Solaredge Technologies by 39.5% during the third quarter. NN Investment Partners Holdings N.V. now owns 3,394,855 shares of the semiconductor company’s stock worth $127,818,000 after purchasing an additional 960,411 shares during the period. OppenheimerFunds Inc. raised its position in shares of Solaredge Technologies by 7,753.6% during the second quarter. OppenheimerFunds Inc. now owns 536,084 shares of the semiconductor company’s stock worth $25,651,000 after purchasing an additional 529,258 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its position in shares of Solaredge Technologies by 59.4% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,228,457 shares of the semiconductor company’s stock worth $58,782,000 after purchasing an additional 457,908 shares during the period. Finally, BlackRock Inc. raised its position in shares of Solaredge Technologies by 13.0% during the second quarter. BlackRock Inc. now owns 3,708,519 shares of the semiconductor company’s stock worth $177,453,000 after purchasing an additional 426,231 shares during the period. 75.94% of the stock is currently owned by 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 in Israel, the United States, the Netherlands, Europe, and internationally. The company's DC optimized inverter systems include power optimizers and inverters, as well as a cloud-based monitoring platform.

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Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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