Solaredge Technologies (NASDAQ:SEDG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “SolarEdge Technologies, Inc. provides inverter solution. The company’s SolarEdge system offers power optimizers, inverters and a cloud-based monitoring platform. It serves residential solar installations to commercial and small utility-scale solar installations. SolarEdge Technologies, Inc. is headquartered in Hod Hasharon, Israel. “
Other equities research analysts also recently issued research reports about the company. BidaskClub raised Solaredge Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, November 27th. Cascend Securities raised Solaredge Technologies from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Thursday, January 31st. Roth Capital decreased their target price on Solaredge Technologies from $60.00 to $50.00 and set a “buy” rating for the company in a report on Friday, November 30th. JPMorgan Chase & Co. decreased their target price on Solaredge Technologies from $63.00 to $59.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Finally, ValuEngine raised Solaredge Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, November 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. Solaredge Technologies has a consensus rating of “Buy” and an average price target of $54.42.
Shares of NASDAQ SEDG opened at $41.50 on Tuesday. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 0.69 and a beta of 0.23. Solaredge Technologies has a fifty-two week low of $32.42 and a fifty-two week high of $70.74.
Solaredge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, February 20th. The semiconductor company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.07. Solaredge Technologies had a return on equity of 33.12% and a net margin of 15.69%. The business had revenue of $263.67 million during the quarter, compared to the consensus estimate of $249.68 million. During the same quarter last year, the company earned $0.85 earnings per share. The company’s quarterly revenue was up 39.3% on a year-over-year basis. Sell-side analysts forecast that Solaredge Technologies will post 2.73 EPS for the current year.
Large investors have recently made changes to their positions in the business. Rehmann Capital Advisory Group lifted its holdings in Solaredge Technologies by 298.2% in the third quarter. Rehmann Capital Advisory Group now owns 661 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 495 shares during the period. AlphaOne Investment Services LLC acquired a new position in Solaredge Technologies in the fourth quarter valued at approximately $31,000. Semmax Financial Advisors Inc. acquired a new position in Solaredge Technologies in the fourth quarter valued at approximately $31,000. Public Employees Retirement Association of Colorado acquired a new position in Solaredge Technologies in the third quarter valued at approximately $127,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Solaredge Technologies by 20.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,989 shares of the semiconductor company’s stock valued at $140,000 after acquiring an additional 681 shares during the period. 81.92% of the stock is owned by institutional investors.
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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