SolarEdge Technologies (NASDAQ:SEDG) Lifted to “Strong-Buy” at Zacks Investment Research

SolarEdge Technologies (NASDAQ:SEDG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, November 14th. The brokerage presently has a $44.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 26.44% from the stock’s previous close.

According to Zacks, “SolarEdge Technologies, Inc. provides inverter solution. The company’s SolarEdge system offers power optimizers, inverters and a cloud-based monitoring platform. It serves residential solar installations to commercial and small utility-scale solar installations. SolarEdge Technologies, Inc. is headquartered in Hod Hasharon, Israel. “

Several other equities analysts also recently issued reports on SEDG. UBS raised shares of SolarEdge Technologies from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 18th. Oppenheimer raised shares of SolarEdge Technologies from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a research note on Tuesday, July 18th. CIBC raised shares of SolarEdge Technologies from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 18th. Roth Capital raised shares of SolarEdge Technologies from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Thursday, July 27th. Finally, Canaccord Genuity reissued a “buy” rating and set a $25.00 price objective (up previously from $19.00) on shares of SolarEdge Technologies in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $34.19.

SolarEdge Technologies (NASDAQ SEDG) opened at $34.80 on Tuesday. The stock has a market cap of $1,496.85, a P/E ratio of 21.09, a P/E/G ratio of 0.76 and a beta of 0.16. SolarEdge Technologies has a one year low of $12.00 and a one year high of $39.90.

In other news, CFO Ronen Faier sold 30,000 shares of the stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $28.56, for a total value of $856,800.00. Following the completion of the sale, the chief financial officer now owns 80,000 shares of the company’s stock, valued at $2,284,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Yoav Galin sold 15,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $26.35, for a total transaction of $395,250.00. Following the completion of the sale, the vice president now directly owns 65,000 shares of the company’s stock, valued at approximately $1,712,750. The disclosure for this sale can be found here. Insiders have sold 112,940 shares of company stock valued at $3,511,159 in the last ninety days. 16.40% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Senvest Management LLC increased its position in shares of SolarEdge Technologies by 2.8% in the second quarter. Senvest Management LLC now owns 3,751,178 shares of the semiconductor company’s stock worth $75,024,000 after acquiring an additional 103,000 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of SolarEdge Technologies by 16.6% in 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 acquiring an additional 254,056 shares in the last quarter. Menora Mivtachim Holdings LTD. increased its position in shares of SolarEdge Technologies by 26.2% in the second quarter. Menora Mivtachim Holdings LTD. now owns 1,444,013 shares of the semiconductor company’s stock worth $28,880,000 after acquiring an additional 300,000 shares in the last quarter. Ion Asset Management Ltd. acquired a new stake in shares of SolarEdge Technologies in the second quarter worth $20,180,000. Finally, Janus Henderson Group PLC increased its position in shares of SolarEdge Technologies by 435.7% in the second quarter. Janus Henderson Group PLC now owns 946,920 shares of the semiconductor company’s stock worth $18,932,000 after acquiring an additional 770,166 shares in the last quarter. 67.78% of the stock is owned by institutional investors.

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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.

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