StockNews.com Initiates Coverage on SolarEdge Technologies (NASDAQ:SEDG)

Research analysts at StockNews.com initiated coverage on shares of SolarEdge Technologies (NASDAQ:SEDG – Get Rating) in a research report issued to clients and investors on Thursday. The brokerage set a “hold” rating on the semiconductor company’s stock.

Other equities research analysts also recently issued research reports about the company. TheStreet upgraded SolarEdge Technologies from a “c” rating to a “b-” rating in a report on Wednesday, May 3rd. Wells Fargo & Company upped their price objective on SolarEdge Technologies from $367.00 to $374.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 15th. Oppenheimer upped their price objective on SolarEdge Technologies from $379.00 to $383.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 14th. HSBC assumed coverage on SolarEdge Technologies in a research report on Thursday, April 13th. They set a “buy” rating and a $418.00 price objective for the company. Finally, Truist Financial upped their price objective on SolarEdge Technologies from $370.00 to $380.00 in a research report on Friday, May 5th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $374.37.

SolarEdge Technologies Price Performance

SEDG stock opened at $303.07 on Thursday. The company has a current ratio of 3.60, a quick ratio of 2.63 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $17.08 billion, a PE ratio of 89.14, a P/E/G ratio of 1.06 and a beta of 1.42. SolarEdge Technologies has a 12-month low of $190.15 and a 12-month high of $375.90. The business’s fifty day moving average price is $294.15 and its 200 day moving average price is $297.81.

SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The semiconductor company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.85. The firm had revenue of $943.89 million for the quarter, compared to the consensus estimate of $929.37 million. SolarEdge Technologies had a return on equity of 14.49% and a net margin of 5.86%. On average, sell-side analysts anticipate that SolarEdge Technologies will post 8.64 EPS for the current year.

Insider Transactions at SolarEdge Technologies

In other news, insider Meir Adest sold 2,500 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $300.86, for a total transaction of $752,150.00. Following the completion of the transaction, the insider now directly owns 131,677 shares of the company’s stock, valued at approximately $39,616,342.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

A number of large investors have recently modified their holdings of the business. Advisory Services Network LLC raised its stake in shares of SolarEdge Technologies by 15.7% during the 1st quarter. Advisory Services Network LLC now owns 1,676 shares of the semiconductor company’s stock worth $509,000 after buying an additional 227 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in SolarEdge Technologies by 11.1% in the 1st quarter. Rockefeller Capital Management L.P. now owns 13,009 shares of the semiconductor company’s stock valued at $3,953,000 after purchasing an additional 1,303 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its stake in SolarEdge Technologies by 1.0% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 32,482 shares of the semiconductor company’s stock valued at $9,873,000 after purchasing an additional 334 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in SolarEdge Technologies by 98.4% in the 1st quarter. Thrivent Financial for Lutherans now owns 4,750 shares of the semiconductor company’s stock valued at $1,444,000 after purchasing an additional 2,356 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in SolarEdge Technologies in the 1st quarter valued at approximately $65,000. 80.01% of the stock is owned by hedge funds and other institutional investors.

About SolarEdge Technologies

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SolarEdge Technologies, Inc engages in the development of energy technology, which provides inverter solutions. The firm operates through the following segments: Solar and All Other. The Solar segment includes the design, development, manufacturing, and sales of an inverter solution designed to maximize power generation.