Credit Suisse Group Raises Solaredge Technologies (NASDAQ:SEDG) Price Target to $80.00

Solaredge Technologies (NASDAQ:SEDG) had its price objective raised by Credit Suisse Group from $70.00 to $80.00 in a research note published on Friday, The Fly reports. Credit Suisse Group currently has a neutral rating on the semiconductor company’s stock.

SEDG has been the subject of a number of other research reports. TheStreet upgraded shares of Solaredge Technologies from a c+ rating to a b- rating in a report on Wednesday, August 7th. JMP Securities raised their price objective on shares of Solaredge Technologies to $90.00 and gave the company an outperform rating in a report on Wednesday, August 7th. Canaccord Genuity raised their price objective on shares of Solaredge Technologies from $62.00 to $68.00 and gave the company a buy rating in a report on Tuesday, July 23rd. Goldman Sachs Group raised shares of Solaredge Technologies from a sell rating to a neutral rating and increased their target price for the company from $35.00 to $52.00 in a research report on Monday, June 17th. Finally, Cowen set a $85.00 target price on shares of Solaredge Technologies and gave the company a buy rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $78.07.

Shares of NASDAQ SEDG opened at $89.87 on Friday. The company has a 50 day simple moving average of $81.10 and a 200 day simple moving average of $58.84. The firm has a market cap of $4.29 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 1.36 and a beta of 0.06. Solaredge Technologies has a 1 year low of $32.42 and a 1 year high of $91.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.49 and a quick ratio of 1.98.

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

In other news, VP Yoav Galin sold 97,500 shares of the firm’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 transaction of $8,211,450.00. Following the completion of the sale, the vice president now owns 59,030 shares of the company’s stock, valued at approximately $4,971,506.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Zvi Lando sold 28,604 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.55, for a total transaction of $2,246,844.20. Following the sale, the vice president now directly owns 101,313 shares of the company’s stock, valued at approximately $7,958,136.15. The disclosure for this sale can be found here. Insiders have sold a total of 241,599 shares of company stock valued at $20,141,696 in the last three months. Insiders own 7.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. ARK Investment Management LLC grew its position in shares of Solaredge Technologies by 1.6% during the 1st quarter. ARK Investment Management LLC now owns 12,175 shares of the semiconductor company’s stock worth $459,000 after buying an additional 197 shares during the period. New York State Teachers Retirement System grew its position in shares of Solaredge Technologies by 0.4% during the 2nd quarter. New York State Teachers Retirement System now owns 46,988 shares of the semiconductor company’s stock worth $2,935,000 after buying an additional 200 shares during the period. State of Alaska Department of Revenue grew its position in shares of Solaredge Technologies by 1.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 15,196 shares of the semiconductor company’s stock worth $949,000 after buying an additional 228 shares during the period. Cascade Investment Advisors Inc. grew its position in shares of Solaredge Technologies by 1.1% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 25,110 shares of the semiconductor company’s stock worth $1,568,000 after buying an additional 275 shares during the period. Finally, Piedmont Investment Advisors Inc. grew its position in shares of Solaredge Technologies by 3.8% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 9,838 shares of the semiconductor company’s stock worth $371,000 after buying an additional 361 shares during the period. 80.44% 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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