Solaredge Technologies (SEDG) PT Lowered to $59.00

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Solaredge Technologies (NASDAQ:SEDG) had its price target decreased by JPMorgan Chase & Co. from $63.00 to $59.00 in a report published on Friday. JPMorgan Chase & Co. currently has a buy rating on the semiconductor company’s stock.

Other analysts have also issued research reports about the company. B. Riley set a $64.00 target price on Solaredge Technologies and gave the stock a buy rating in a research note on Friday, August 3rd. ValuEngine lowered Solaredge Technologies from a buy rating to a hold rating in a research note on Friday, August 3rd. Roth Capital set a $60.00 target price on Solaredge Technologies and gave the stock a buy rating in a research note on Friday, August 3rd. BidaskClub lowered Solaredge Technologies from a hold rating to a sell rating in a research note on Tuesday, September 11th. Finally, Zacks Investment Research lowered Solaredge Technologies from a buy rating to a hold rating in a research note on Thursday, August 9th. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. Solaredge Technologies has a consensus rating of Hold and a consensus target price of $55.00.

Shares of SEDG opened at $39.10 on Friday. The firm has a market capitalization of $1.72 billion, a P/E ratio of 17.38, a P/E/G ratio of 0.62 and a beta of -0.41. Solaredge Technologies has a 52-week low of $30.80 and a 52-week high of $70.74.

Solaredge Technologies (NASDAQ:SEDG) last released its earnings results on Thursday, November 1st. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. Solaredge Technologies had a return on equity of 33.12% and a net margin of 15.69%. The business had revenue of $236.60 million for the quarter, compared to analyst estimates of $234.19 million. During the same quarter last year, the firm posted $0.66 earnings per share. The business’s revenue was up 42.1% compared to the same quarter last year. On average, analysts anticipate that Solaredge Technologies will post 2.79 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its stake in shares of Solaredge Technologies by 488.2% during the first quarter. Wells Fargo & Company MN now owns 57,927 shares of the semiconductor company’s stock valued at $3,047,000 after buying an additional 48,079 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Solaredge Technologies by 51.8% during the first quarter. Dimensional Fund Advisors LP now owns 645,942 shares of the semiconductor company’s stock valued at $33,977,000 after buying an additional 220,515 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Solaredge Technologies by 16.1% during the first quarter. Russell Investments Group Ltd. now owns 11,709 shares of the semiconductor company’s stock valued at $616,000 after buying an additional 1,628 shares during the period. Sei Investments Co. increased its stake in shares of Solaredge Technologies by 114.4% during the first quarter. Sei Investments Co. now owns 3,107 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 1,658 shares during the period. Finally, UBS Group AG increased its stake in shares of Solaredge Technologies by 149.1% during the first quarter. UBS Group AG now owns 65,548 shares of the semiconductor company’s stock valued at $3,447,000 after buying an additional 39,239 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

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 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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