Solaredge Technologies (SEDG) Given New $52.00 Price Target at JPMorgan Chase & Co.

Solaredge Technologies (NASDAQ:SEDG) had its target price raised by equities researchers at JPMorgan Chase & Co. to $52.00 in a note issued to investors on Thursday. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 40.92% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on SEDG. ValuEngine cut Solaredge Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Canaccord Genuity restated a “buy” rating and issued a $36.00 price target (up previously from $30.00) on shares of Solaredge Technologies in a research note on Monday, November 6th. B. Riley upgraded Solaredge Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $18.00 to $45.00 in a research note on Thursday, November 9th. Needham & Company LLC increased their price target on Solaredge Technologies from $30.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Finally, Roth Capital increased their price target on Solaredge Technologies from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $35.12.

Shares of Solaredge Technologies (NASDAQ SEDG) opened at $36.90 on Thursday. Solaredge Technologies has a 12 month low of $13.50 and a 12 month high of $39.90. The firm has a market capitalization of $1,548.46, a price-to-earnings ratio of 22.36, a P/E/G ratio of 0.77 and a beta of 0.03.

In related news, VP Lior Handelsman sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $36.25, for a total value of $181,250.00. Following the transaction, the vice president now owns 177,950 shares in the company, valued at $6,450,687.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ronen Faier sold 30,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $37.80, for a total value of $1,134,000.00. Following the completion of the transaction, the chief financial officer now owns 91,666 shares in the company, valued at approximately $3,464,974.80. The disclosure for this sale can be found here. Insiders have sold a total of 128,380 shares of company stock worth $4,841,790 in the last quarter. Company insiders own 16.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Solaredge Technologies in the fourth quarter worth $102,000. Meadow Creek Investment Management LLC bought a new position in shares of Solaredge Technologies in the fourth quarter worth $109,000. American International Group Inc. bought a new position in shares of Solaredge Technologies in the third quarter worth $123,000. Pinebridge Investments L.P. bought a new position in shares of Solaredge Technologies in the third quarter worth $125,000. Finally, Tyers Asset Management LLC bought a new position in shares of Solaredge Technologies in the fourth quarter worth $190,000. Institutional investors own 66.34% of the company’s stock.

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About Solaredge Technologies

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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