SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives Consensus Rating of “Buy” from Brokerages

SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) has been given an average rating of “Hold” by the thirty research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $349.74.

A number of equities analysts recently issued reports on the company. Piper Sandler lowered their price target on SolarEdge Technologies from $400.00 to $385.00 in a report on Thursday, April 21st. The Goldman Sachs Group lifted their price objective on shares of SolarEdge Technologies from $420.00 to $448.00 and gave the company a “buy” rating in a research note on Monday, January 10th. Zacks Investment Research upgraded shares of SolarEdge Technologies from a “strong sell” rating to a “hold” rating and set a $339.00 price objective on the stock in a research note on Tuesday, March 1st. Morgan Stanley lifted their price objective on shares of SolarEdge Technologies from $307.00 to $333.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of SolarEdge Technologies from $361.00 to $399.00 in a research note on Friday, April 1st.

Shares of SolarEdge Technologies stock opened at $251.81 on Monday. SolarEdge Technologies has a one year low of $199.33 and a one year high of $389.71. The company has a market cap of $13.95 billion, a PE ratio of 80.71, a P/E/G ratio of 1.94 and a beta of 1.10. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.53 and a current ratio of 4.33. The business has a 50-day simple moving average of $300.85 and a 200-day simple moving average of $294.35.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last announced its quarterly earnings data on Tuesday, February 15th. The semiconductor company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.28). SolarEdge Technologies had a return on equity of 11.59% and a net margin of 7.78%. The company had revenue of $551.92 million for the quarter, compared to analyst estimates of $548.66 million. During the same period in the prior year, the firm posted $0.33 earnings per share. On average, sell-side analysts predict that SolarEdge Technologies will post 4.52 earnings per share for the current fiscal year.

In related news, CEO Zvi Lando sold 19,399 shares of the company’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $331.08, for a total transaction of $6,422,620.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Rachel Prishkolnik sold 6,815 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $308.84, for a total transaction of $2,104,744.60. The disclosure for this sale can be found here. In the last three months, insiders sold 46,214 shares of company stock valued at $14,649,566. Company insiders own 1.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Chilton Capital Management LLC acquired a new position in shares of SolarEdge Technologies during the fourth quarter worth about $28,000. Addison Advisors LLC acquired a new position in shares of SolarEdge Technologies during the first quarter worth about $37,000. Sageworth Trust Co of South Dakota acquired a new position in shares of SolarEdge Technologies during the fourth quarter worth about $33,000. Confluence Wealth Services Inc. acquired a new position in shares of SolarEdge Technologies during the fourth quarter worth about $33,000. Finally, Horan Securities Inc. acquired a new position in shares of SolarEdge Technologies during the fourth quarter worth about $34,000. 75.73% of the stock is owned by institutional investors.

About SolarEdge Technologies (Get Rating)

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.

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Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

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