BMO Capital Markets assumed the hedging of the shares of SolarEdge Technologies (NASDAQ: SEDG) in a research report released Thursday, The Fly reports. The company established an “outperformance” rating on the shares of the semiconductor company.
Other analysts have also recently published research reports on the company. Susquehanna Bancshares raised her price target on SolarEdge Technologies from $ 325.00 to $ 350.00 and gave the company a “positive” rating in a research report published on Wednesday, August 4. Bank of America raised its price target on SolarEdge Technologies from $ 276.00 to $ 279.00 and gave the stock a “buy” rating in a research note on Monday, July 19. They noted that the move was an appraisal call. Susquehanna raised its price target on SolarEdge Technologies from $ 325.00 to $ 350.00 and rated the stock “positive” in a Wednesday August 4th research note. Guggenheim assumed coverage of SolarEdge Technologies in a research note on Wednesday, June 2. They issued a “buy” rating and a price target of $ 314.00 for the company. Finally, Stephens assumed coverage of SolarEdge Technologies in a report on Thursday, June 24. They issued an “overweight” rating and a price target of $ 336.00 for the company. Three research analysts rated the stock with a sell rating, five assigned a conservation rating, and nineteen issued a buy rating for the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $ 322.13.
Shares of SolarEdge Technologies traded up $ 3.35 in Thursday’s session, reaching $ 265.22. The stock had a trade volume of 501,327 shares, compared to an average volume of 900,570. The company has a fifty-day moving average of $ 276.40 and a two-hundred-day moving average of $ 263.98. The company has a market cap of $ 13.86 billion, a P / E ratio of 104.83, a PEG ratio of 4.44 and a beta of 0.95. The company has a debt to equity ratio of 0.55, a current ratio of 3.73 and a rapid ratio of 2.92. SolarEdge Technologies has a minimum of $ 190.10 over 52 weeks and a maximum of $ 377.00 over 52 weeks.
SolarEdge Technologies (NASDAQ: SEDG) last released its quarterly results on Sunday, August 1. The semiconductor company reported earnings per share of $ 1.28 for the quarter, beating the Zacks consensus estimate of $ 0.79 by $ 0.49. SolarEdge Technologies recorded a return on equity of 12.63% and a net margin of 8.63%. The company posted revenue of $ 480.10 million in the quarter, compared to $ 455.66 million expected by analysts. During the same period last year, the company posted $ 0.97 in EPS. The company’s revenue grew 44.7% year-over-year. As a group, research analysts predict SolarEdge Technologies will post earnings per share of 3.42 for the current year.
Meanwhile, Vice President Meir Adest sold 7,338 shares of SolarEdge Technologies in a trade on Monday, August 2. The stock was sold for an average price of $ 259.11, for a total trade of $ 1,901,349.18. Following the closing of the transaction, the Vice President now owns 285,421 shares of the company, valued at approximately $ 73,955,435.31. The transaction was disclosed in a file with the Securities & Exchange Commission, which is available at this link. In addition, director Marcel Gani sold 1,000 shares of SolarEdge Technologies in a transaction dated Wednesday, September 1. The shares were sold for an average price of $ 291.78, for a total value of $ 291,780.00. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 21,000 shares of the company valued at $ 5,735,446. Insiders own 1.60% of the shares of the company.
A number of institutional investors and hedge funds have recently changed their holdings of equities. First Trust Advisors LP increased its stake in shares of SolarEdge Technologies by 2.3% in the first quarter. First Trust Advisors LP now owns 70,405 shares of the semiconductor company valued at $ 2,653,000 after purchasing an additional 1,581 shares in the last quarter. Sowell Financial Services LLC increased its stake in shares of SolarEdge Technologies by 19.6% in the first quarter. Sowell Financial Services LLC now owns 695 shares of the semiconductor company valued at $ 149,000 after purchasing 114 additional shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings of shares of SolarEdge Technologies by 12.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,614 shares of the semiconductor company valued at $ 1,039,000 after purchasing an additional 398 shares in the last quarter. Kestra Advisory Services LLC increased its stake in shares of SolarEdge Technologies by 27.6% during the first quarter. Kestra Advisory Services LLC now owns 1,702 shares of the semiconductor company valued at $ 489,000 after purchasing an additional 368 shares in the last quarter. Finally, Maryland State Retirement & Pension System increased its stake in shares of SolarEdge Technologies by 374.1% during the first quarter. Maryland State Retirement & Pension System now owns 3,736 shares of the semiconductor company valued at $ 1,074,000 after purchasing an additional 2,948 shares in the last quarter. Hedge funds and other institutional investors hold 73.10% of the company’s shares.
SolarEdge Technologies Company Profile
SolarEdge Technologies, Inc. engages in the development of energy technology, which provides inverter solutions. The company operates through the following segments: Solar and all others. The solar segment includes the design, development, manufacture and sale of an inverter solution designed to maximize power generation.
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