SolarEdge Technologies (NASDAQ:SEDG) Receives New Coverage from Analysts at Barclays

Barclays assumed coverage on shares of SolarEdge Technologies (NASDAQ:SEDGGet Rating) in a report published on Friday morning, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $389.00 target price on the semiconductor company’s stock.

Several other analysts also recently weighed in on SEDG. StockNews.com upgraded SolarEdge Technologies to a sell rating in a research note on Saturday, July 2nd. Guggenheim boosted their price target on SolarEdge Technologies from $348.00 to $389.00 in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on SolarEdge Technologies from $382.00 to $396.00 in a research note on Wednesday, July 20th. Needham & Company LLC lowered their target price on SolarEdge Technologies from $390.00 to $380.00 and set a buy rating on the stock in a research note on Wednesday. Finally, BMO Capital Markets lowered their target price on SolarEdge Technologies from $405.00 to $372.00 in a research note on Tuesday, May 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $357.32.

SolarEdge Technologies Trading Up 2.0 %

Shares of NASDAQ:SEDG opened at $315.50 on Friday. The business’s 50-day moving average is $289.45 and its 200 day moving average is $279.68. SolarEdge Technologies has a 1 year low of $200.86 and a 1 year high of $389.71. The firm has a market capitalization of $17.48 billion, a P/E ratio of 123.24, a P/E/G 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.

Insider Buying and Selling at SolarEdge Technologies

In other news, VP Rachel Prishkolnik sold 1,900 shares of SolarEdge Technologies stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $301.58, for a total transaction of $573,002.00. Following the sale, the vice president now owns 12,581 shares in the company, valued at $3,794,177.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Rachel Prishkolnik sold 1,900 shares of the business’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $301.58, for a total value of $573,002.00. Following the transaction, the vice president now owns 12,581 shares in the company, valued at approximately $3,794,177.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Meir Adest sold 1,352 shares of the business’s 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 owns 182,309 shares in the company, valued at approximately $54,816,670.12. The disclosure for this sale can be found here. Insiders have sold a total of 10,613 shares of company stock worth $3,007,896 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

A number of institutional investors have recently added to or reduced their stakes in SEDG. Geode Capital Management LLC boosted its holdings in SolarEdge Technologies by 63.8% in the 4th quarter. Geode Capital Management LLC now owns 811,454 shares of the semiconductor company’s stock valued at $226,980,000 after purchasing an additional 316,001 shares in the last quarter. Pictet Asset Management SA lifted its stake in SolarEdge Technologies by 30.1% in the 4th quarter. Pictet Asset Management SA now owns 1,284,822 shares of the semiconductor company’s stock valued at $360,483,000 after buying an additional 297,272 shares in the last quarter. Robeco Schweiz AG purchased a new stake in SolarEdge Technologies in the 1st quarter valued at approximately $94,454,000. 1832 Asset Management L.P. purchased a new stake in SolarEdge Technologies in the 1st quarter valued at approximately $86,575,000. Finally, Clearbridge Investments LLC raised its holdings in SolarEdge Technologies by 120.4% in the 1st quarter. Clearbridge Investments LLC now owns 476,378 shares of the semiconductor company’s stock valued at $153,570,000 after acquiring an additional 260,203 shares during the last quarter. Hedge funds and other institutional investors own 75.73% of the company’s stock.

About SolarEdge Technologies

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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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