Solaredge Technologies (NASDAQ:SEDG) had its target price raised by Credit Suisse Group from $70.00 to $80.00 in a research report released on Friday morning, The Fly reports. The firm currently has a neutral rating on the semiconductor company’s stock.
A number of other equities research analysts have also weighed in on SEDG. JMP Securities upped their target price on shares of Solaredge Technologies to $90.00 and gave the stock an outperform rating in a report on Wednesday, August 7th. UBS Group lowered shares of Solaredge Technologies from a buy rating to a neutral rating and upped their target price for the stock from $73.00 to $90.00 in a report on Thursday, August 22nd. Canaccord Genuity upped their target price on shares of Solaredge Technologies from $62.00 to $68.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. Cascend Securities restated a buy rating and issued a $75.00 target price (up previously from $65.00) on shares of Solaredge Technologies in a report on Thursday, June 27th. Finally, BidaskClub lowered shares of Solaredge Technologies from a buy rating to a hold rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $78.07.
SEDG opened at $89.41 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.49 and a quick ratio of 1.98. Solaredge Technologies has a fifty-two week low of $32.42 and a fifty-two week high of $91.42. The firm has a market capitalization of $4.29 billion, a PE ratio of 33.24, a P/E/G ratio of 1.36 and a beta of 0.06. The company’s 50-day moving average is $79.65 and its 200 day moving average is $58.12.
In other news, VP Yoav Galin sold 97,500 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $84.22, for a total transaction of $8,211,450.00. Following the completion of the transaction, the vice president now directly owns 59,030 shares of the company’s stock, valued at approximately $4,971,506.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Zvi Lando sold 28,604 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.55, for a total transaction of $2,246,844.20. Following the transaction, the vice president now directly owns 101,313 shares of the company’s stock, valued at $7,958,136.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 241,599 shares of company stock valued at $20,141,696. Company insiders own 7.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SEDG. M Holdings Securities Inc. boosted its holdings in Solaredge Technologies by 10.9% in the 1st quarter. M Holdings Securities Inc. now owns 10,785 shares of the semiconductor company’s stock worth $406,000 after buying an additional 1,056 shares during the period. AlphaOne Investment Services LLC boosted its holdings in Solaredge Technologies by 327.2% in the 2nd quarter. AlphaOne Investment Services LLC now owns 4,007 shares of the semiconductor company’s stock worth $250,000 after buying an additional 3,069 shares during the period. Ardsley Advisory Partners LP bought a new position in Solaredge Technologies in the 2nd quarter worth approximately $655,000. Candriam Luxembourg S.C.A. bought a new position in Solaredge Technologies in the 2nd quarter worth approximately $777,000. Finally, Isthmus Partners LLC bought a new position in Solaredge Technologies in the 2nd quarter worth approximately $210,000. 80.44% of the stock is owned by hedge funds and other 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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