J P Morgan Chase & Co Increases SolarEdge Technologies, Inc. (SEDG) Price Target to $43.00

SolarEdge Technologies, Inc. (NASDAQ:SEDG) had its price target upped by equities researchers at J P Morgan Chase & Co to $43.00 in a research report issued to clients and investors on Thursday. The firm presently has an “overweight” rating on the semiconductor company’s stock. J P Morgan Chase & Co’s target price suggests a potential upside of 12.71% from the stock’s previous close.

SEDG has been the topic of a number of other reports. Needham & Company LLC upped their target price on shares of SolarEdge Technologies from $30.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday. B. Riley upgraded shares of SolarEdge Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $18.00 to $45.00 in a research note on Thursday. Canaccord Genuity restated a “buy” rating and set a $36.00 target price (up from $30.00) on shares of SolarEdge Technologies in a research note on Monday, November 6th. ValuEngine lowered shares of SolarEdge Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Finally, Roth Capital set a $30.00 target price on shares of SolarEdge Technologies and gave the stock a “buy” rating in a research note on Sunday, October 15th. Three analysts have rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $30.18.

Shares of SolarEdge Technologies (NASDAQ:SEDG) traded down $0.65 on Thursday, hitting $38.15. 1,263,700 shares of the stock traded hands, compared to its average volume of 860,526. The firm has a market capitalization of $1,640.95, a PE ratio of 23.12, a PEG ratio of 0.99 and a beta of 0.10. SolarEdge Technologies has a 1-year low of $12.00 and a 1-year high of $39.45.

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In other news, VP Yoav Galin sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.35, for a total value 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 $1,712,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ronen Faier sold 30,000 shares of the stock in a transaction that occurred 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 directly owns 80,000 shares of the company’s stock, valued at $2,284,800. The disclosure for this sale can be found here. Insiders sold 92,940 shares of company stock worth $2,750,759 over the last quarter. 16.40% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its holdings in SolarEdge Technologies by 19.5% in the third quarter. Wells Fargo & Company MN now owns 10,291 shares of the semiconductor company’s stock valued at $294,000 after acquiring an additional 1,680 shares during the period. JPMorgan Chase & Co. lifted its holdings in SolarEdge Technologies by 199.5% in the third quarter. JPMorgan Chase & Co. now owns 121,408 shares of the semiconductor company’s stock valued at $3,497,000 after acquiring an additional 80,871 shares during the period. Legal & General Group Plc acquired a new stake in SolarEdge Technologies in the third quarter valued at $1,572,000. Great West Life Assurance Co. Can lifted its holdings in SolarEdge Technologies by 837.5% in the third quarter. Great West Life Assurance Co. Can now owns 49,310 shares of the semiconductor company’s stock valued at $1,417,000 after acquiring an additional 44,050 shares during the period. Finally, Nordea Investment Management AB acquired a new stake in SolarEdge Technologies in the third quarter valued at $377,000. 56.99% of the stock is owned by institutional investors.

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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