SolarEdge Technologies (NASDAQ:SEDG) Given New $352.00 Price Target at Morgan Stanley – MarketBeat
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SolarEdge Technologies (NASDAQ:SEDG – Get Rating) had its price objective increased by equities research analysts at Morgan Stanley from $316.00 to $352.00 in a research note issued on Thursday, The Fly reports. Morgan Stanley’s price objective points to a potential upside of 13.32% from the company’s current price.
SEDG has been the topic of a number of other research reports. Truist Financial began coverage on shares of SolarEdge Technologies in a report on Monday, May 2nd. They issued a “buy” rating and a $340.00 target price on the stock. Barclays began coverage on shares of SolarEdge Technologies in a report on Friday, August 5th. They issued an “equal weight” rating and a $389.00 target price on the stock. Oppenheimer upped their target price on shares of SolarEdge Technologies from $334.00 to $400.00 in a report on Wednesday, August 3rd. Guggenheim upped their target price on shares of SolarEdge Technologies from $348.00 to $389.00 in a report on Wednesday, August 3rd. Finally, Needham & Company LLC lowered their target price on shares of SolarEdge Technologies from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Two equities research 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $359.68.
SolarEdge Technologies Price Performance
Shares of NASDAQ SEDG opened at $310.62 on Thursday. The company has a current ratio of 3.73, a quick ratio of 2.96 and a debt-to-equity ratio of 0.33. 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 $17.21 billion, a P/E ratio of 121.34, a P/E/G ratio of 2.52 and a beta of 1.15. The firm’s 50-day moving average price is $293.42 and its 200-day moving average price is $285.07.
Insider Buying and Selling
In related news, VP Rachel Prishkolnik sold 1,900 shares of the firm’s stock in a transaction that occurred on 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 approximately $3,794,177.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other SolarEdge Technologies news, VP Rachel Prishkolnik sold 1,900 shares of the stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $301.58, for a total value of $573,002.00. Following the sale, the vice president now directly owns 12,581 shares in the company, valued at approximately $3,794,177.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Meir Adest sold 5,000 shares of the stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $263.61, for a total transaction of $1,318,050.00. Following the completion of the sale, the insider now owns 186,057 shares in the company, valued at $49,046,485.77. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,335 shares of company stock valued at $5,423,569. Company insiders own 1.17% of the company’s stock.
Institutional Trading of SolarEdge Technologies
Several institutional investors and hedge funds have recently bought and sold shares of SEDG. Geode Capital Management LLC raised its position in shares of SolarEdge Technologies by 63.8% during the 4th quarter. Geode Capital Management LLC now owns 811,454 shares of the semiconductor company’s stock valued at $226,980,000 after buying an additional 316,001 shares in the last quarter. Pictet Asset Management SA raised its position in shares of SolarEdge Technologies by 30.1% during 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 shares of SolarEdge Technologies during the 1st quarter valued at $94,454,000. 1832 Asset Management L.P. purchased a new stake in shares of SolarEdge Technologies during the 1st quarter valued at $86,575,000. Finally, Clearbridge Investments LLC raised its position in shares of SolarEdge Technologies by 120.4% during the 1st quarter. Clearbridge Investments LLC now owns 476,378 shares of the semiconductor company’s stock valued at $153,570,000 after buying an additional 260,203 shares in the last quarter. 75.73% of the stock is currently owned by hedge funds and other institutional investors.
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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