Solaredge Technologies (SEDG) Given a $60.00 Price Target at B. Riley

Solaredge Technologies (NASDAQ:SEDG) has been assigned a $60.00 price objective by equities researchers at B. Riley in a report issued on Friday. The brokerage presently has a “buy” rating on the semiconductor company’s stock. B. Riley’s target price would suggest a potential upside of 58.94% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Solaredge Technologies from $63.00 to $59.00 and set a “buy” rating for the company in a research report on Friday. Vertical Group set a $29.00 target price on shares of Solaredge Technologies and gave the company a “sell” rating in a research report on Wednesday, October 24th. BidaskClub raised shares of Solaredge Technologies from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 16th. Zacks Investment Research downgraded shares of Solaredge Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Finally, ValuEngine downgraded shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $55.00.

Shares of Solaredge Technologies stock traded down $3.28 on Friday, hitting $37.75. The stock had a trading volume of 4,353,189 shares, compared to its average volume of 955,002. Solaredge Technologies has a twelve month low of $30.80 and a twelve month high of $70.74. The company has a market capitalization of $1.72 billion, a P/E ratio of 11.72, a P/E/G ratio of 0.62 and a beta of -0.41.

Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Thursday, November 1st. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.04. Solaredge Technologies had a return on equity of 34.96% and a net margin of 15.69%. The company had revenue of $236.60 million during the quarter, compared to the consensus estimate of $234.19 million. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The firm’s revenue was up 42.1% compared to the same quarter last year. As a group, equities research analysts predict that Solaredge Technologies will post 2.79 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its position in shares of Solaredge Technologies by 488.2% during the 1st quarter. Wells Fargo & Company MN now owns 57,927 shares of the semiconductor company’s stock worth $3,047,000 after buying an additional 48,079 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Solaredge Technologies by 51.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 645,942 shares of the semiconductor company’s stock worth $33,977,000 after buying an additional 220,515 shares during the period. Russell Investments Group Ltd. grew its position in shares of Solaredge Technologies by 16.1% during the 1st quarter. Russell Investments Group Ltd. now owns 11,709 shares of the semiconductor company’s stock worth $616,000 after buying an additional 1,628 shares during the period. Sei Investments Co. grew its position in shares of Solaredge Technologies by 114.4% during the 1st quarter. Sei Investments Co. now owns 3,107 shares of the semiconductor company’s stock worth $163,000 after buying an additional 1,658 shares during the period. Finally, UBS Group AG grew its position in shares of Solaredge Technologies by 149.1% during the 1st quarter. UBS Group AG now owns 65,548 shares of the semiconductor company’s stock worth $3,447,000 after buying an additional 39,239 shares during the period. 73.98% of the stock is owned by institutional investors and hedge funds.

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 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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Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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