SolarEdge Technologies (NASDAQ:SEDG) Coverage Initiated by Analysts at Stephens

Equities research analysts at Stephens started coverage on shares of SolarEdge Technologies (NASDAQ:SEDGGet Rating) in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage set an “overweight” rating and a $490.00 price target on the semiconductor company’s stock. Stephens’ price target points to a potential upside of 59.09% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Northland Securities dropped their target price on shares of SolarEdge Technologies from $210.00 to $184.00 and set an “underperform” rating for the company in a report on Tuesday, February 22nd. Susquehanna Bancshares upped their target price on shares of SolarEdge Technologies from $365.00 to $370.00 and gave the stock a “positive” rating in a report on Wednesday, February 16th. BMO Capital Markets upped their target price on shares of SolarEdge Technologies from $370.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, March 30th. Credit Suisse Group reaffirmed a “buy” rating and set a $303.00 target price on shares of SolarEdge Technologies in a report on Friday, March 18th. Finally, Piper Sandler boosted their price target on shares of SolarEdge Technologies from $388.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, March 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $353.81.

NASDAQ SEDG traded up $6.55 on Wednesday, hitting $308.00. The company had a trading volume of 459,630 shares, compared to its average volume of 1,070,307. The company has a market capitalization of $16.27 billion, a PE ratio of 100.33, a PEG ratio of 2.47 and a beta of 0.96. The company’s fifty day moving average price is $297.80 and its 200-day moving average price is $295.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.26 and a quick ratio of 2.53. SolarEdge Technologies has a 12-month low of $199.33 and a 12-month high of $389.71.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last released its earnings results on Tuesday, February 15th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.28). SolarEdge Technologies had a return on equity of 13.59% and a net margin of 8.61%. The business had revenue of $551.92 million for the quarter, compared to analysts’ expectations of $548.66 million. During the same period in the previous year, the company earned $0.33 EPS. On average, sell-side analysts anticipate that SolarEdge Technologies will post 4.94 EPS for the current year.

In other news, CEO Zvi Lando sold 19,399 shares of the stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $331.08, for a total value of $6,422,620.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Meir Adest sold 10,000 shares of the stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $310.63, for a total value of $3,106,300.00. The disclosure for this sale can be found here. Insiders have sold 36,214 shares of company stock worth $11,633,666 over the last 90 days. Insiders own 1.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Senvest Management LLC lifted its holdings in shares of SolarEdge Technologies by 67.0% during the third quarter. Senvest Management LLC now owns 343,968 shares of the semiconductor company’s stock worth $91,227,000 after purchasing an additional 138,005 shares during the period. LPL Financial LLC lifted its holdings in shares of SolarEdge Technologies by 40.6% during the third quarter. LPL Financial LLC now owns 12,717 shares of the semiconductor company’s stock worth $3,373,000 after purchasing an additional 3,673 shares during the period. Capital Fund Management S.A. acquired a new stake in shares of SolarEdge Technologies during the third quarter worth $6,520,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of SolarEdge Technologies by 18.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 10,774 shares of the semiconductor company’s stock worth $3,023,000 after purchasing an additional 1,698 shares during the period. Finally, Neuberger Berman Group LLC lifted its holdings in shares of SolarEdge Technologies by 87.4% during the third quarter. Neuberger Berman Group LLC now owns 117,700 shares of the semiconductor company’s stock worth $31,083,000 after purchasing an additional 54,884 shares during the period. 71.29% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Company Profile (Get Rating)

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.

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