SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives $21.65 Consensus Target Price from Analysts

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) has been assigned an average rating of "Reduce" from the twenty-eight research firms that are covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $21.80.

Several research analysts have recently issued reports on SEDG shares. Citigroup restated a "sell" rating and issued a $9.00 price objective (down from $12.00) on shares of SolarEdge Technologies in a research note on Wednesday, January 8th. Roth Mkm raised their price target on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, February 21st. The Goldman Sachs Group upped their price objective on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, February 20th. UBS Group increased their price objective on shares of SolarEdge Technologies from $18.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Finally, Truist Financial decreased their target price on shares of SolarEdge Technologies from $15.00 to $14.00 and set a "hold" rating for the company in a research report on Thursday, January 16th.

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Insiders Place Their Bets

In other news, Chairman More Avery acquired 30,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the acquisition, the chairman now owns 274,478 shares of the company's stock, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On SolarEdge Technologies

Large investors have recently modified their holdings of the business. Grantham Mayo Van Otterloo & Co. LLC boosted its position in SolarEdge Technologies by 14.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock worth $67,370,000 after acquiring an additional 641,915 shares during the last quarter. Invesco Ltd. lifted its stake in SolarEdge Technologies by 5.0% in the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company's stock worth $33,254,000 after purchasing an additional 116,809 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of SolarEdge Technologies during the 4th quarter worth approximately $17,909,000. Legal & General Group Plc grew its position in shares of SolarEdge Technologies by 67.6% in the fourth quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock valued at $17,262,000 after purchasing an additional 512,035 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of SolarEdge Technologies by 1.3% in the fourth quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company's stock valued at $17,060,000 after purchasing an additional 16,258 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Stock Performance

Shares of NASDAQ:SEDG traded down $0.08 on Monday, hitting $15.85. 2,245,664 shares of the company were exchanged, compared to its average volume of 4,092,372. The firm has a market capitalization of $931.71 million, a P/E ratio of -0.51 and a beta of 1.78. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $73.60. The stock's 50 day moving average price is $15.64 and its 200 day moving average price is $15.96.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.