SolarEdge Technologies (NASDAQ:SEDG) Given New $19.00 Price Target at Wells Fargo & Company

SolarEdge Technologies (NASDAQ:SEDG) had its target price lowered by Wells Fargo & Company from $20.00 to $19.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the semiconductor company’s stock.

Several other brokerages also recently issued reports on SEDG. Northland Capmk downgraded shares of SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 20th. The Goldman Sachs Group upped their price objective on SolarEdge Technologies from $21.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Truist Financial reduced their target price on SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, January 16th. Northland Securities downgraded SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 price target on the stock. in a report on Thursday, February 20th. Finally, UBS Group lifted their price objective on SolarEdge Technologies from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.80.

SolarEdge Technologies Price Performance

SEDG opened at $15.93 on Thursday. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $73.60. The stock has a 50-day moving average price of $15.61 and a 200-day moving average price of $16.01. The firm has a market cap of $936.41 million, a PE ratio of -0.51 and a beta of 1.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery bought 30,000 shares of the stock in a transaction that occurred 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 purchase, the chairman now owns 274,478 shares in the company, valued at $3,760,348.60. This represents a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Several large investors have recently made changes to their positions in SEDG. Advisors Asset Management Inc. lifted its holdings in SolarEdge Technologies by 86.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 15,307 shares of the semiconductor company’s stock worth $351,000 after purchasing an additional 7,099 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of SolarEdge Technologies by 2.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 186,738 shares of the semiconductor company’s stock worth $4,278,000 after buying an additional 5,238 shares in the last quarter. FORA Capital LLC purchased a new position in shares of SolarEdge Technologies in the third quarter worth $1,999,000. Point72 Europe London LLP bought a new position in shares of SolarEdge Technologies during the third quarter worth $1,832,000. Finally, Firsthand Capital Management Inc. grew its stake in SolarEdge Technologies by 184.8% during the third quarter. Firsthand Capital Management Inc. now owns 13,000 shares of the semiconductor company’s stock valued at $298,000 after acquiring an additional 8,435 shares in the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

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.