SolarEdge Technologies, Inc. (NASDAQ:SEDG) had its target price raised by Roth Capital from $36.00 to $42.00 in a report published on Thursday morning. Roth Capital currently has a buy rating on the semiconductor company’s stock.
SEDG has been the subject of a number of other reports. J P Morgan Chase & Co increased their price target on SolarEdge Technologies from $31.00 to $37.00 and gave the stock an overweight rating in a report on Wednesday, November 1st. Canaccord Genuity reiterated a buy rating and set a $30.00 price target (up from $25.00) on shares of SolarEdge Technologies in a report on Thursday, August 3rd. Zacks Investment Research downgraded SolarEdge Technologies from a strong-buy rating to a hold rating in a report on Wednesday, October 4th. Needham & Company LLC raised their target price on SolarEdge Technologies from $30.00 to $42.00 and gave the company a buy rating in a research note on Thursday. Finally, Axiom Securities restated a sell rating on shares of SolarEdge Technologies in a research note on Thursday, August 31st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. SolarEdge Technologies currently has a consensus rating of Buy and a consensus price target of $30.18.
Shares of SolarEdge Technologies (NASDAQ SEDG) traded down $0.65 during trading on Thursday, reaching $38.15. The company’s stock had a trading volume of 1,263,700 shares, compared to its average volume of 860,526. SolarEdge Technologies has a 52-week low of $12.00 and a 52-week high of $39.45. The firm has a market cap of $1,640.95, a P/E ratio of 23.12, a P/E/G ratio of 0.99 and a beta of 0.10.
In other SolarEdge Technologies news, VP Yoav Galin sold 6,700 shares of SolarEdge Technologies stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $34.07, for a total transaction of $228,269.00. Following the completion of the transaction, the vice president now owns 25,000 shares in the company, valued at approximately $851,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Zvi Lando sold 6,240 shares of SolarEdge Technologies stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $33.50, for a total value of $209,040.00. Following the transaction, the vice president now owns 34,573 shares of the company’s stock, valued at approximately $1,158,195.50. The disclosure for this sale can be found here. Insiders have sold a total of 92,940 shares of company stock valued at $2,750,759 in the last quarter. Company insiders own 16.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in shares of SolarEdge Technologies by 601.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock worth $30,539,000 after buying an additional 1,309,184 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of SolarEdge Technologies by 9.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 81,872 shares of the semiconductor company’s stock worth $1,278,000 after buying an additional 7,140 shares in the last quarter. Spears Abacus Advisors LLC bought a new position in shares of SolarEdge Technologies during the 2nd quarter worth approximately $366,000. Goldman Sachs Group Inc. lifted its position in shares of SolarEdge Technologies by 143.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 341,115 shares of the semiconductor company’s stock worth $6,822,000 after buying an additional 201,146 shares in the last quarter. Finally, Seizert Capital Partners LLC bought a new position in shares of SolarEdge Technologies during the 2nd quarter worth approximately $4,006,000. 56.99% of the stock is currently owned by hedge funds and other institutional investors.
About SolarEdge Technologies
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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