SolarEdge Technologies (NASDAQ:SEDG) Upgraded to Outperform by Oppenheimer

SolarEdge Technologies (NASDAQ:SEDGGet Rating) was upgraded by research analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a report issued on Thursday, The Fly reports. The firm currently has a $334.00 price objective on the semiconductor company’s stock. Oppenheimer’s price target would indicate a potential upside of 22.58% from the stock’s current price.

Several other analysts have also recently issued reports on SEDG. Truist Financial started coverage on SolarEdge Technologies in a research report on Monday, May 2nd. They set a “buy” rating and a $340.00 target price for the company. Canaccord Genuity Group lowered their price objective on SolarEdge Technologies from $345.00 to $266.00 and set a “hold” rating for the company in a research report on Wednesday, February 16th. Zacks Investment Research raised SolarEdge Technologies from a “strong sell” rating to a “hold” rating and set a $339.00 price objective for the company in a research report on Tuesday, March 1st. Wells Fargo & Company raised their price objective on SolarEdge Technologies from $361.00 to $399.00 in a research report on Friday, April 1st. Finally, Susquehanna lifted their price target on SolarEdge Technologies from $365.00 to $370.00 and gave the stock a “positive” rating in a research report on Wednesday, February 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, SolarEdge Technologies has a consensus rating of “Buy” and a consensus price target of $349.18.

Shares of SEDG opened at $272.48 on Thursday. The company has a quick ratio of 3.57, a current ratio of 4.33 and a debt-to-equity ratio of 0.34. SolarEdge Technologies has a 52 week low of $200.86 and a 52 week high of $389.71. The business has a 50-day simple moving average of $276.57 and a two-hundred day simple moving average of $282.99. The stock has a market cap of $15.09 billion, a price-to-earnings ratio of 87.33, a PEG ratio of 2.05 and a beta of 1.10.

In related news, CEO Zvi Lando sold 19,399 shares of SolarEdge Technologies stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $331.08, for a total value of $6,422,620.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Meir Adest sold 10,000 shares of SolarEdge Technologies stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $310.63, for a total value of $3,106,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,399 shares of company stock valued at $12,544,821. 1.60% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. Elequin Capital LP purchased a new stake in SolarEdge Technologies during the 1st quarter worth approximately $32,000. Chilton Capital Management LLC purchased a new stake in SolarEdge Technologies during the 4th quarter worth approximately $28,000. First Horizon Advisors Inc. increased its stake in SolarEdge Technologies by 274.1% during the 1st quarter. First Horizon Advisors Inc. now owns 101 shares of the semiconductor company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. Addison Advisors LLC purchased a new stake in SolarEdge Technologies during the 1st quarter worth approximately $37,000. Finally, Sageworth Trust Co of South Dakota purchased a new stake in SolarEdge Technologies during the 4th quarter worth approximately $33,000. Institutional investors own 75.73% of the company’s stock.

SolarEdge Technologies Company Profile (Get Rating)

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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