SolarEdge Technologies, Inc. (SEDG) PT Raised to $42.00 at Roth Capital
SolarEdge Technologies, Inc. (NASDAQ:SEDG) had its target price hoisted by research analysts at Roth Capital from $36.00 to $42.00 in a research note issued to investors on Thursday. The firm presently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s price objective points to a potential upside of 10.09% from the stock’s current price.
SEDG has been the subject of a number of other reports. Canaccord Genuity reaffirmed a “buy” rating and set a $30.00 target price (up from $25.00) on shares of SolarEdge Technologies in a report on Thursday, August 3rd. ValuEngine raised shares of SolarEdge Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Cowen and Company reaffirmed a “buy” rating and set a $24.00 target price on shares of SolarEdge Technologies in a report on Friday, July 14th. Needham & Company LLC upped their target price on shares of SolarEdge Technologies from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, July 14th. Finally, BidaskClub raised shares of SolarEdge Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $30.18.
Shares of SolarEdge Technologies (NASDAQ SEDG) traded down $0.65 during midday trading on Thursday, hitting $38.15. 1,263,700 shares of the stock traded hands, compared to its average volume of 860,526. The company has a market capitalization of $1,640.95, a P/E ratio of 23.12, a PEG ratio of 0.99 and a beta of 0.10. SolarEdge Technologies has a 52-week low of $12.00 and a 52-week high of $39.45.
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In other SolarEdge Technologies news, VP Yoav Galin sold 15,000 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $26.35, for a total transaction of $395,250.00. Following the completion of the transaction, the vice president now owns 65,000 shares in the company, valued at $1,712,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ronen Faier sold 30,000 shares of the stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $28.56, for a total transaction of $856,800.00. Following the transaction, the chief financial officer now owns 80,000 shares of the company’s stock, valued at approximately $2,284,800. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,940 shares of company stock valued at $2,750,759. 16.40% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System lifted its position in SolarEdge Technologies by 5.3% during the first quarter. California Public Employees Retirement System now owns 17,800 shares of the semiconductor company’s stock valued at $278,000 after purchasing an additional 900 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of SolarEdge Technologies by 19.5% in the 3rd quarter. Wells Fargo & Company MN now owns 10,291 shares of the semiconductor company’s stock worth $294,000 after acquiring an additional 1,680 shares during the last quarter. Swiss National Bank lifted its holdings in shares of SolarEdge Technologies by 7.5% in the 1st quarter. Swiss National Bank now owns 37,400 shares of the semiconductor company’s stock worth $583,000 after acquiring an additional 2,600 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of SolarEdge Technologies by 3.3% in the 2nd quarter. Northern Trust Corp now owns 102,236 shares of the semiconductor company’s stock worth $2,046,000 after acquiring an additional 3,297 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of SolarEdge Technologies by 2.4% in the 2nd quarter. Schroder Investment Management Group now owns 138,517 shares of the semiconductor company’s stock worth $2,791,000 after acquiring an additional 3,310 shares during the last quarter. Institutional investors and hedge funds own 56.99% of the company’s stock.
SolarEdge Technologies Company Profile
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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