UBS Group Downgrades Solaredge Technologies (NASDAQ:SEDG) to Neutral

UBS Group lowered shares of Solaredge Technologies (NASDAQ:SEDG) from a buy rating to a neutral rating in a research report released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has $90.00 price objective on the semiconductor company’s stock, up from their previous price objective of $73.00.

Several other research analysts have also recently commented on the stock. TheStreet upgraded shares of Solaredge Technologies from a c+ rating to a b- rating in a research report on Wednesday, August 7th. Northland Securities restated a buy rating and issued a $88.00 target price on shares of Solaredge Technologies in a research report on Wednesday, August 7th. Cascend Securities restated a buy rating and issued a $75.00 target price (up previously from $65.00) on shares of Solaredge Technologies in a research report on Thursday, June 27th. Roth Capital upped their target price on shares of Solaredge Technologies from $70.00 to $105.00 and gave the stock a buy rating in a research report on Wednesday, August 7th. Finally, Oppenheimer upped their target price on shares of Solaredge Technologies from $66.00 to $78.00 and gave the stock an outperform rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $75.86.

Shares of NASDAQ:SEDG opened at $80.90 on Thursday. The company has a quick ratio of 1.98, a current ratio of 2.49 and a debt-to-equity ratio of 0.05. Solaredge Technologies has a fifty-two week low of $32.42 and a fifty-two week high of $89.43. The firm has a 50-day simple moving average of $70.13 and a 200 day simple moving average of $53.03. The company has a market cap of $3.94 billion, a PE ratio of 35.67, a P/E/G ratio of 1.25 and a beta of 0.15.

Solaredge Technologies (NASDAQ:SEDG) last posted its earnings results on Tuesday, August 6th. The semiconductor company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Solaredge Technologies had a net margin of 10.09% and a return on equity of 17.81%. The firm had revenue of $325.00 million during the quarter, compared to analysts’ expectations of $315.53 million. During the same quarter in the prior year, the firm earned $0.82 EPS. Solaredge Technologies’s quarterly revenue was up 43.1% on a year-over-year basis. As a group, research analysts forecast that Solaredge Technologies will post 2.99 EPS for the current fiscal year.

In other news, VP Yoav Galin sold 97,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $84.22, for a total value of $8,211,450.00. Following the completion of the sale, the vice president now directly owns 59,030 shares of the company’s stock, valued at approximately $4,971,506.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Doron Inbar sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $86.80, for a total transaction of $1,736,000.00. Following the completion of the sale, the director now directly owns 45,712 shares of the company’s stock, valued at $3,967,801.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,809 shares of company stock valued at $14,470,796. Company insiders own 7.90% of the company’s stock.

Several large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in Solaredge Technologies by 2.8% in the 2nd quarter. BlackRock Inc. now owns 4,840,757 shares of the semiconductor company’s stock valued at $302,353,000 after buying an additional 131,352 shares during the period. Prudential PLC increased its stake in Solaredge Technologies by 11.5% in the 2nd quarter. Prudential PLC now owns 34,208 shares of the semiconductor company’s stock valued at $2,121,000 after buying an additional 3,531 shares during the period. Verition Fund Management LLC acquired a new position in Solaredge Technologies in the 2nd quarter valued at approximately $379,000. M Holdings Securities Inc. increased its stake in Solaredge Technologies by 13.9% in the 2nd quarter. M Holdings Securities Inc. now owns 12,287 shares of the semiconductor company’s stock valued at $767,000 after buying an additional 1,502 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in Solaredge Technologies by 33.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 33,170 shares of the semiconductor company’s stock valued at $2,072,000 after buying an additional 8,244 shares during the period. 81.02% of the stock is owned by institutional investors.

Solaredge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.

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Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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