SolarEdge Technologies (NASDAQ:SEDG) Given New $42.00 Price Target at Roth Capital

SolarEdge Technologies (NASDAQ:SEDG) had its target price increased by stock analysts at Roth Capital from $36.00 to $42.00 in a report released on Thursday, November 9th. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s price objective points to a potential upside of 7.42% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. BidaskClub upgraded shares of SolarEdge Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 8th. Barclays restated an “overweight” rating and set a $28.00 price target (up previously from $21.00) on shares of SolarEdge Technologies in a report on Wednesday, August 9th. Canaccord Genuity restated a “buy” rating and set a $30.00 price target (up previously from $25.00) on shares of SolarEdge Technologies in a report on Wednesday, August 9th. Cowen reiterated a “buy” rating and issued a $31.00 target price (up previously from $24.00) on shares of SolarEdge Technologies in a report on Thursday, August 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price (up previously from $25.00) on shares of SolarEdge Technologies in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. SolarEdge Technologies currently has a consensus rating of “Buy” and an average target price of $34.19.

SolarEdge Technologies (SEDG) opened at $39.10 on Thursday. SolarEdge Technologies has a 52 week low of $12.00 and a 52 week high of $39.90. The company has a market cap of $1,707.61, a P/E ratio of 24.06, a P/E/G ratio of 0.87 and a beta of 0.10.

In related news, VP Zvi Lando sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $30.36, for a total transaction of $303,600.00. Following the completion of the transaction, the vice president now owns 48,333 shares in the company, valued at $1,467,389.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ronen Faier sold 30,000 shares of the company’s stock in a transaction that occurred 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 completion of 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. Over the last three months, insiders have sold 112,940 shares of company stock valued at $3,511,159. 16.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Senvest Management LLC boosted its holdings in SolarEdge Technologies by 2.8% during the second quarter. Senvest Management LLC now owns 3,751,178 shares of the semiconductor company’s stock worth $75,024,000 after purchasing an additional 103,000 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in SolarEdge Technologies by 16.6% during the third quarter. Bank of New York Mellon Corp now owns 1,781,003 shares of the semiconductor company’s stock worth $50,849,000 after purchasing an additional 254,056 shares during the last quarter. NN Investment Partners Holdings N.V. boosted its holdings in 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 worth $34,731,000 after purchasing an additional 305,179 shares during the last quarter. Menora Mivtachim Holdings LTD. boosted its holdings in 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 worth $28,880,000 after purchasing an additional 300,000 shares during the last quarter. Finally, Ion Asset Management Ltd. acquired a new position in SolarEdge Technologies during the second quarter worth $20,180,000. Institutional investors and hedge funds own 67.78% of the company’s stock.

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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.

Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

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