Needham & Company LLC began coverage on shares of Solaredge Technologies (NASDAQ:SEDG) in a research note released on Monday, AnalystRatings.com reports. The firm issued a buy rating and a $102.00 price objective on the semiconductor company’s stock.

A number of other research analysts also recently commented on the company. Roth Capital lowered their target price on Solaredge Technologies from $105.00 to $100.00 in a research report on Monday, November 25th. Cowen set a $85.00 target price on Solaredge Technologies and gave the company a buy rating in a research report on Wednesday, August 7th. Credit Suisse Group increased their target price on Solaredge Technologies from $70.00 to $80.00 and gave the company a neutral rating in a research report on Friday, September 20th. Zacks Investment Research downgraded Solaredge Technologies from a strong-buy rating to a hold rating in a research report on Wednesday, October 9th. Finally, TheStreet upgraded Solaredge Technologies from a c+ rating to a b- rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. Solaredge Technologies presently has a consensus rating of Buy and an average price target of $87.31.

SEDG stock opened at $81.72 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.49 and a quick ratio of 2.09. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 30.38, a PEG ratio of 1.21 and a beta of 0.02. Solaredge Technologies has a 1-year low of $32.42 and a 1-year high of $96.69. The business has a 50 day simple moving average of $83.05 and a two-hundred day simple moving average of $73.12.

Solaredge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.22. The firm had revenue of $410.56 million during the quarter, compared to the consensus estimate of $402.89 million. Solaredge Technologies had a return on equity of 15.89% and a net margin of 8.39%. The company’s quarterly revenue was up 73.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 EPS. Sell-side analysts anticipate that Solaredge Technologies will post 3.06 EPS for the current fiscal year.

In related news, VP Rachel Prishkolnik sold 7,833 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $77.02, for a total value of $603,297.66. Following the completion of the sale, the vice president now directly owns 46,851 shares in the company, valued at $3,608,464.02. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director More Avery sold 14,891 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $81.14, for a total value of $1,208,255.74. Following the completion of the sale, the director now owns 585,611 shares of the company’s stock, valued at $47,516,476.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,026 shares of company stock valued at $9,460,907. 7.90% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Pathstone Family Office LLC bought a new stake in Solaredge Technologies in the second quarter worth $31,000. C M Bidwell & Associates Ltd. bought a new stake in Solaredge Technologies in the second quarter worth $32,000. Westside Investment Management Inc. bought a new stake in Solaredge Technologies in the second quarter worth $35,000. Winslow Evans & Crocker Inc. lifted its position in Solaredge Technologies by 376.7% in the third quarter. Winslow Evans & Crocker Inc. now owns 410 shares of the semiconductor company’s stock worth $36,000 after buying an additional 324 shares during the last quarter. Finally, Capital Investment Advisory Services LLC bought a new stake in Solaredge Technologies in the third quarter worth $38,000. Institutional investors own 81.49% of the company’s stock.

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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