Solaredge Technologies (NASDAQ:SEDG) PT Raised to $63.00 at JPMorgan Chase & Co.

Solaredge Technologies (NASDAQ:SEDG) had its target price boosted by equities research analysts at JPMorgan Chase & Co. from $53.00 to $63.00 in a note issued to investors on Tuesday, May 7th, The Fly reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 15.32% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Credit Suisse Group lifted their price objective on shares of Solaredge Technologies from $43.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. JMP Securities upgraded shares of Solaredge Technologies from an “underperform” rating to an “outperform” rating and lifted their price objective for the stock from $31.00 to $60.00 in a research note on Tuesday, May 7th. ValuEngine cut shares of Solaredge Technologies from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Finally, Zacks Investment Research raised shares of Solaredge Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $55.33.

SEDG traded up $0.84 during trading on Tuesday, hitting $54.63. The stock had a trading volume of 274,356 shares, compared to its average volume of 688,585. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 0.97 and a beta of 0.26. Solaredge Technologies has a twelve month low of $32.42 and a twelve month high of $61.00. The company has a quick ratio of 2.28, a current ratio of 2.89 and a debt-to-equity ratio of 0.05.

Solaredge Technologies (NASDAQ:SEDG) last announced its earnings results on Monday, May 6th. The semiconductor company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.14). Solaredge Technologies had a net margin of 11.23% and a return on equity of 19.57%. The firm had revenue of $271.90 million during the quarter, compared to analyst estimates of $266.11 million. During the same quarter last year, the business earned $0.87 earnings per share. Solaredge Technologies’s revenue was up 29.5% on a year-over-year basis. On average, sell-side analysts expect that Solaredge Technologies will post 2.6 EPS for the current year.

In related news, Director More Avery sold 4,130 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $51.04, for a total transaction of $210,795.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SEDG. Bank of New York Mellon Corp increased its holdings in Solaredge Technologies by 18.6% in the third quarter. Bank of New York Mellon Corp now owns 367,063 shares of the semiconductor company’s stock valued at $13,820,000 after buying an additional 57,503 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Solaredge Technologies by 140.0% in the third quarter. JPMorgan Chase & Co. now owns 76,533 shares of the semiconductor company’s stock valued at $2,882,000 after buying an additional 44,639 shares in the last quarter. Legal & General Group Plc increased its holdings in Solaredge Technologies by 20.7% in the third quarter. Legal & General Group Plc now owns 93,136 shares of the semiconductor company’s stock valued at $3,518,000 after buying an additional 15,956 shares in the last quarter. Vanguard Group Inc. increased its holdings in Solaredge Technologies by 21.1% in the third quarter. Vanguard Group Inc. now owns 1,910,830 shares of the semiconductor company’s stock valued at $71,943,000 after buying an additional 332,393 shares in the last quarter. Finally, Rehmann Capital Advisory Group increased its holdings in Solaredge Technologies by 298.2% in the third quarter. Rehmann Capital Advisory Group now owns 661 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 495 shares in the last quarter. 82.19% of the stock is owned by institutional investors.

About Solaredge Technologies

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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