Shares of Solaredge Technologies Inc (NASDAQ:SEDG) have earned a consensus recommendation of “Hold” from the fifteen brokerages that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $54.42.
Several brokerages have recently issued reports on SEDG. BidaskClub cut Solaredge Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 23rd. Zacks Investment Research raised Solaredge Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, February 19th. Cascend Securities raised Solaredge Technologies from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Thursday, January 31st. JMP Securities cut Solaredge Technologies from a “market perform” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a report on Thursday, January 17th. They noted that the move was a valuation call. Finally, ValuEngine raised Solaredge Technologies from a “sell” rating to a “hold” rating in a report on Thursday, December 6th.
Get Solaredge Technologies alerts:Shares of SEDG opened at $39.89 on Friday. The company has a market cap of $1.84 billion, a PE ratio of 14.83, a PEG ratio of 0.67 and a beta of 0.23. Solaredge Technologies has a 1 year low of $32.42 and a 1 year high of $70.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.30 and a current ratio of 3.00.
Solaredge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, February 20th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.29). The firm had revenue of $263.67 million for the quarter, compared to analysts’ expectations of $249.68 million. Solaredge Technologies had a return on equity of 25.33% and a net margin of 13.75%. The firm’s revenue was up 39.3% on a year-over-year basis. During the same period last year, the company earned $0.85 earnings per share. As a group, equities analysts forecast that Solaredge Technologies will post 2.51 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Flinton Capital Management LLC grew its position in Solaredge Technologies by 4.3% in the 4th quarter. Flinton Capital Management LLC now owns 8,262 shares of the semiconductor company’s stock valued at $290,000 after acquiring an additional 340 shares during the last quarter. Piedmont Investment Advisors Inc. grew its position in Solaredge Technologies by 3.9% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 9,477 shares of the semiconductor company’s stock valued at $333,000 after acquiring an additional 354 shares during the last quarter. Legal & General Group Plc grew its position in Solaredge Technologies by 0.4% in the 4th quarter. Legal & General Group Plc now owns 93,554 shares of the semiconductor company’s stock valued at $3,277,000 after acquiring an additional 418 shares during the last quarter. Comerica Bank grew its position in Solaredge Technologies by 1.1% in the 4th quarter. Comerica Bank now owns 40,437 shares of the semiconductor company’s stock valued at $1,698,000 after acquiring an additional 426 shares during the last quarter. Finally, Rehmann Capital Advisory Group grew its position in Solaredge Technologies by 298.2% in the 3rd 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 last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.
About Solaredge Technologies
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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