SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $400.00

SolarEdge Technologies (NASDAQ:SEDGGet Rating) had its target price boosted by Oppenheimer from $334.00 to $400.00 in a report issued on Wednesday morning, The Fly reports.

A number of other research firms have also commented on SEDG. Piper Sandler reduced their price target on shares of SolarEdge Technologies from $400.00 to $385.00 in a research report on Thursday, April 21st. TheStreet lowered shares of SolarEdge Technologies from a b rating to a c rating in a research report on Monday, May 2nd. StockNews.com upgraded shares of SolarEdge Technologies to a sell rating in a research report on Saturday, July 2nd. Guggenheim upped their target price on shares of SolarEdge Technologies from $348.00 to $389.00 in a research report on Wednesday. Finally, Needham & Company LLC cut their target price on shares of SolarEdge Technologies from $390.00 to $380.00 and set a buy rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $357.32.

SolarEdge Technologies Stock Up 2.0 %

SEDG opened at $315.50 on Wednesday. The company has a fifty day moving average price of $289.45 and a 200-day moving average price of $279.68. The firm has a market capitalization of $17.48 billion, a P/E ratio of 123.24, a price-to-earnings-growth ratio of 2.41 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 3.57. SolarEdge Technologies has a one year low of $200.86 and a one year high of $389.71.

Insider Buying and Selling

In related news, VP Meir Adest sold 1,352 shares of the stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $300.68, for a total value of $406,519.36. Following the completion of the transaction, the vice president now directly owns 182,309 shares of the company’s stock, valued at $54,816,670.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Rachel Prishkolnik sold 1,900 shares of the stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $301.58, for a total value of $573,002.00. Following the completion of the transaction, the vice president now directly owns 12,581 shares of the company’s stock, valued at $3,794,177.98. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Meir Adest sold 1,352 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $300.68, for a total transaction of $406,519.36. Following the completion of the sale, the vice president now owns 182,309 shares in the company, valued at approximately $54,816,670.12. The disclosure for this sale can be found here. Insiders sold a total of 10,613 shares of company stock valued at $3,007,896 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Keybank National Association OH grew its holdings in SolarEdge Technologies by 35.9% in the first quarter. Keybank National Association OH now owns 1,540 shares of the semiconductor company’s stock worth $496,000 after purchasing an additional 407 shares during the period. Chilton Capital Management LLC purchased a new stake in SolarEdge Technologies in the fourth quarter worth about $28,000. Baker Tilly Wealth Management LLC purchased a new stake in SolarEdge Technologies in the first quarter worth about $247,000. State of Michigan Retirement System grew its holdings in SolarEdge Technologies by 0.3% in the first quarter. State of Michigan Retirement System now owns 13,236 shares of the semiconductor company’s stock worth $4,267,000 after purchasing an additional 36 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in SolarEdge Technologies by 168.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,880 shares of the semiconductor company’s stock worth $448,000 after purchasing an additional 1,180 shares during the period. Hedge funds and other institutional investors own 75.73% of the company’s stock.

SolarEdge Technologies Company Profile

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SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.

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