SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-nine analysts that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $351.62.

A number of equities research analysts have recently issued reports on SEDG shares. TheStreet downgraded shares of SolarEdge Technologies from a “b” rating to a “c” rating in a research report on Monday, May 2nd. StockNews.com upgraded SolarEdge Technologies to a “sell” rating in a research report on Saturday, July 2nd. Truist Financial assumed coverage on SolarEdge Technologies in a research report on Monday, May 2nd. They set a “buy” rating and a $340.00 price objective for the company. Piper Sandler cut their price objective on SolarEdge Technologies from $400.00 to $385.00 in a research report on Thursday, April 21st. Finally, Stephens assumed coverage on SolarEdge Technologies in a research report on Wednesday, April 13th. They set an “overweight” rating and a $490.00 price objective for the company.

SolarEdge Technologies Price Performance

SEDG stock opened at $288.93 on Friday. The firm has a 50 day moving average of $274.13 and a 200-day moving average of $274.76. SolarEdge Technologies has a 12-month low of $200.86 and a 12-month high of $389.71. The company has a current ratio of 4.33, a quick ratio of 3.57 and a debt-to-equity ratio of 0.34. The company has a market cap of $16.00 billion, a price-to-earnings ratio of 92.61, a PEG ratio of 2.20 and a beta of 1.06.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last posted its quarterly earnings results on Monday, May 2nd. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.18). SolarEdge Technologies had a net margin of 7.78% and a return on equity of 11.59%. The company had revenue of $655.08 million for the quarter, compared to analyst estimates of $634.70 million. As a group, equities analysts expect that SolarEdge Technologies will post 4.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Meir Adest sold 5,000 shares of the company’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $263.61, for a total transaction of $1,318,050.00. Following the completion of the sale, the insider now directly owns 186,057 shares of the company’s stock, valued at approximately $49,046,485.77. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other SolarEdge Technologies news, insider Meir Adest sold 5,000 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $263.61, for a total value of $1,318,050.00. Following the completion of the transaction, the insider now directly owns 186,057 shares of the company’s stock, valued at approximately $49,046,485.77. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Rachel Prishkolnik sold 1,900 shares of the company’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $301.58, for a total transaction of $573,002.00. Following the completion of the transaction, the vice president now directly owns 12,581 shares of the company’s stock, valued at $3,794,177.98. The disclosure for this sale can be found here. In the last three months, insiders sold 9,261 shares of company stock valued at $2,601,376. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chilton Capital Management LLC acquired a new stake in shares of SolarEdge Technologies in the 4th quarter valued at about $28,000. Elequin Capital LP acquired a new stake in shares of SolarEdge Technologies in the 1st quarter valued at about $32,000. Sageworth Trust Co of South Dakota acquired a new stake in shares of SolarEdge Technologies in the 4th quarter valued at about $33,000. Confluence Wealth Services Inc. acquired a new stake in shares of SolarEdge Technologies in the 4th quarter valued at about $33,000. Finally, First Horizon Advisors Inc. raised its stake in shares of SolarEdge Technologies by 274.1% in the 1st quarter. First Horizon Advisors Inc. now owns 101 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. 75.73% of the stock is owned by hedge funds and other institutional investors.

About SolarEdge Technologies

(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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Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

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