Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have been assigned an average rating of "Hold" from the twenty-five analysts that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $309.28.
SEDG has been the subject of several research reports. Truist Securities dropped their price objective on shares of SolarEdge Technologies from $435.00 to $325.00 in a research note on Wednesday, May 5th. Cowen dropped their price target on shares of SolarEdge Technologies from $347.00 to $333.00 and set an "outperform" rating for the company in a research note on Tuesday, May 4th. Susquehanna raised shares of SolarEdge Technologies from a "neutral" rating to a "positive" rating in a research note on Thursday, March 25th. Zacks Investment Research downgraded shares of SolarEdge Technologies from a "hold" rating to a "sell" rating in a research note on Friday, February 19th. Finally, Northland Securities raised their price target on shares of SolarEdge Technologies from $210.00 to $220.00 and gave the company an "underperform" rating in a research note on Tuesday, May 4th.
In other SolarEdge Technologies news, Director More Avery sold 15,000 shares of the firm's stock in a transaction on Thursday, May 20th. The shares were sold at an average price of $246.66, for a total value of $3,699,900.00. Following the transaction, the director now directly owns 79,972 shares of the company's stock, valued at $19,725,893.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Rachel Prishkolnik sold 3,742 shares of the firm's stock in a transaction on Wednesday, March 24th. The shares were sold at an average price of $275.08, for a total transaction of $1,029,349.36. Following the completion of the transaction, the vice president now directly owns 28,477 shares in the company, valued at $7,833,453.16. The disclosure for this sale can be found here. Insiders sold 41,742 shares of company stock worth $11,106,899 over the last ninety days. Insiders own 2.90% of the company's stock.
Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in shares of SolarEdge Technologies by 9.0% in the first quarter. BlackRock Inc. now owns 6,536,046 shares of the semiconductor company's stock valued at $1,878,721,000 after buying an additional 538,017 shares in the last quarter. FMR LLC lifted its position in shares of SolarEdge Technologies by 6.1% during the fourth quarter. FMR LLC now owns 2,974,417 shares of the semiconductor company's stock valued at $949,196,000 after purchasing an additional 170,784 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of SolarEdge Technologies by 21.7% during the first quarter. JPMorgan Chase & Co. now owns 1,997,185 shares of the semiconductor company's stock valued at $574,070,000 after purchasing an additional 355,976 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of SolarEdge Technologies by 1.1% during the first quarter. Geode Capital Management LLC now owns 673,239 shares of the semiconductor company's stock valued at $193,277,000 after purchasing an additional 7,062 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. lifted its position in shares of SolarEdge Technologies by 0.4% during the first quarter. NN Investment Partners Holdings N.V. now owns 569,194 shares of the semiconductor company's stock valued at $163,609,000 after purchasing an additional 2,274 shares in the last quarter. 74.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SolarEdge Technologies stock opened at $239.69 on Friday. The stock's 50 day moving average price is $249.25. SolarEdge Technologies has a 1-year low of $127.19 and a 1-year high of $377.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.13 and a current ratio of 3.99. The company has a market cap of $12.46 billion, a P/E ratio of 99.46, a PEG ratio of 3.32 and a beta of 0.93.
SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Monday, May 3rd. The semiconductor company reported $0.98 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.67 by $0.31. The company had revenue of $405.50 million during the quarter, compared to the consensus estimate of $395.73 million. SolarEdge Technologies had a net margin of 8.94% and a return on equity of 12.59%. The firm's quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 EPS. As a group, equities analysts predict that SolarEdge Technologies will post 3.2 earnings per share for the current year.
SolarEdge Technologies Company Profile
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It 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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