Needham & Company LLC Boosts SolarEdge Technologies, Inc. (SEDG) Price Target to $42.00
SolarEdge Technologies, Inc. (NASDAQ:SEDG) had its target price upped by Needham & Company LLC from $30.00 to $42.00 in a research report report published on Thursday morning, MarketBeat Ratings reports. They currently have a buy rating on the semiconductor company’s stock.
SEDG has been the topic of several other reports. J P Morgan Chase & Co boosted their target price on SolarEdge Technologies from $31.00 to $37.00 and gave the company an overweight rating in a research note on Wednesday, November 1st. Canaccord Genuity reissued a buy rating and set a $30.00 target price (up from $25.00) on shares of SolarEdge Technologies in a research note on Thursday, August 3rd. Zacks Investment Research cut SolarEdge Technologies from a strong-buy rating to a hold rating in a research note on Wednesday, October 4th. Roth Capital raised SolarEdge Technologies from a neutral rating to a buy rating and set a $26.00 target price on the stock in a research note on Thursday, July 27th. Finally, Axiom Securities restated a sell rating on shares of SolarEdge Technologies in a research report 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 assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $30.18.
SolarEdge Technologies (SEDG) traded down $0.65 on Thursday, hitting $38.15. The 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 stock has a market capitalization of $1,640.95, a PE ratio of 23.12, a PEG ratio of 0.99 and a beta of 0.10.
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In other SolarEdge Technologies news, CFO Ronen Faier sold 30,000 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $28.56, for a total value of $856,800.00. Following the sale, the chief financial officer now directly owns 80,000 shares of the company’s stock, valued at $2,284,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Yoav Galin sold 6,700 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $34.07, for a total value of $228,269.00. Following the completion of the sale, the vice president now directly owns 25,000 shares in the company, valued at $851,750. The disclosure for this sale can be found here. Insiders sold 92,940 shares of company stock worth $2,750,759 over the last three months. Corporate insiders own 16.40% of the company’s stock.
Several large investors have recently made changes to their positions in SEDG. Bank of New York Mellon Corp lifted its holdings in shares of SolarEdge Technologies by 601.2% during the second quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock valued at $30,539,000 after purchasing an additional 1,309,184 shares in the last quarter. Ion Asset Management Ltd. bought a new position in shares of SolarEdge Technologies during the second quarter valued at $20,180,000. Janus Henderson Group PLC lifted its holdings in shares of SolarEdge Technologies by 435.7% during the second quarter. Janus Henderson Group PLC now owns 946,920 shares of the semiconductor company’s stock valued at $18,932,000 after purchasing an additional 770,166 shares in the last quarter. NN Investment Partners Holdings N.V. lifted its holdings in shares of SolarEdge Technologies by 21.3% during the second quarter. NN Investment Partners Holdings N.V. now owns 1,736,541 shares of the semiconductor company’s stock valued at $34,731,000 after purchasing an additional 305,179 shares in the last quarter. Finally, Menora Mivtachim Holdings LTD. lifted its holdings in shares of SolarEdge Technologies by 26.2% during the second quarter. Menora Mivtachim Holdings LTD. now owns 1,444,013 shares of the semiconductor company’s stock valued at $28,880,000 after purchasing an additional 300,000 shares in the last quarter. 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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