SolarEdge Technologies, Inc. (SEDG) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) from a hold rating to a buy rating in a report released on Wednesday, August 2nd.

SEDG has been the subject of a number of other reports. Canaccord Genuity restated a buy rating and set a $25.00 price target (up from $19.00) on shares of SolarEdge Technologies in a report on Friday, July 28th. Roth Capital upgraded shares of SolarEdge Technologies from a neutral rating to a buy rating and set a $26.00 price target for the company in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of SolarEdge Technologies from a hold rating to a strong-buy rating and set a $25.00 price target for the company in a report on Thursday, July 20th. Cowen and Company restated a buy rating and set a $24.00 price target on shares of SolarEdge Technologies in a report on Friday, July 14th. Finally, UBS AG upgraded shares of SolarEdge Technologies from a market perform rating to an outperform rating in a report on Tuesday, July 18th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company’s stock. SolarEdge Technologies currently has an average rating of Buy and a consensus target price of $23.11.

Shares of SolarEdge Technologies (SEDG) traded up 0.74% on Wednesday, hitting $27.15. The company’s stock had a trading volume of 876,273 shares. The stock has a market capitalization of $1.14 billion, a P/E ratio of 24.07 and a beta of 0.04. The stock’s 50 day moving average price is $22.80 and its 200 day moving average price is $17.60. SolarEdge Technologies has a 52 week low of $11.35 and a 52 week high of $28.80.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.18. The firm had revenue of $136.10 million for the quarter, compared to the consensus estimate of $125.07 million. SolarEdge Technologies had a net margin of 12.64% and a return on equity of 21.01%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share. On average, analysts forecast that SolarEdge Technologies will post $1.84 earnings per share for the current fiscal year.

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In other SolarEdge Technologies news, Director Doron Inbar sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $28.00, for a total transaction of $1,400,000.00. Following the completion of the transaction, the director now owns 223,333 shares in the company, valued at $6,253,324. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Zvi Lando sold 1,300 shares of the firm’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $22.02, for a total transaction of $28,626.00. Following the transaction, the vice president now owns 47,311 shares of the company’s stock, valued at approximately $1,041,788.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,018 shares of company stock valued at $4,157,847. 16.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of SolarEdge Technologies by 601.2% in the second quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock worth $30,539,000 after buying an additional 1,309,184 shares in the last quarter. Sylebra HK Co Ltd boosted its position in shares of SolarEdge Technologies by 24.1% in the first quarter. Sylebra HK Co Ltd now owns 2,121,621 shares of the semiconductor company’s stock worth $33,097,000 after buying an additional 412,073 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its position in shares of SolarEdge Technologies by 21.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,736,541 shares of the semiconductor company’s stock worth $34,731,000 after buying an additional 305,179 shares in the last quarter. Menora Mivtachim Holdings LTD. boosted its position in shares of SolarEdge Technologies by 26.2% in the second quarter. Menora Mivtachim Holdings LTD. now owns 1,444,013 shares of the semiconductor company’s stock worth $28,880,000 after buying an additional 300,000 shares in the last quarter. Finally, Robecosam AG boosted its position in shares of SolarEdge Technologies by 169.2% in the first quarter. Robecosam AG now owns 350,000 shares of the semiconductor company’s stock worth $5,425,000 after buying an additional 220,000 shares in the last quarter. Hedge funds and other institutional investors own 57.28% of the company’s stock.

About SolarEdge Technologies

SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

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