The Goldman Sachs Group Raises SolarEdge Technologies (NASDAQ:SEDG) Price Target to $31.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective increased by The Goldman Sachs Group from $21.00 to $31.00 in a research report sent to investors on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the semiconductor company’s stock.

Other analysts also recently issued reports about the company. Citigroup reissued a “sell” rating and set a $9.00 price objective (down from $12.00) on shares of SolarEdge Technologies in a research report on Wednesday, January 8th. Canaccord Genuity Group raised their target price on SolarEdge Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a report on Thursday. Royal Bank of Canada raised their target price on SolarEdge Technologies from $14.00 to $15.00 and gave the company a “sector perform” rating in a report on Thursday. TD Cowen lowered their target price on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a report on Thursday, November 7th. Finally, Roth Mkm lowered their target price on SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Ten investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, SolarEdge Technologies presently has a consensus rating of “Hold” and a consensus price target of $21.65.

SolarEdge Technologies Stock Down 3.1 %

Shares of NASDAQ:SEDG opened at $17.62 on Thursday. The business has a 50-day moving average price of $14.59 and a 200 day moving average price of $17.20. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -0.56 and a beta of 1.56. SolarEdge Technologies has a 12-month low of $10.24 and a 12-month high of $78.40.

Hedge Funds Weigh In On SolarEdge Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in shares of SolarEdge Technologies during the 4th quarter valued at about $17,909,000. Ion Asset Management Ltd. acquired a new position in shares of SolarEdge Technologies in the 4th quarter worth approximately $12,005,000. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of SolarEdge Technologies by 14.9% in the 4th 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 in the last quarter. Assenagon Asset Management S.A. boosted its position in SolarEdge Technologies by 182.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock valued at $11,888,000 after purchasing an additional 564,490 shares during the period. Finally, Legal & General Group Plc boosted its position in SolarEdge Technologies by 67.6% during the 4th 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 during the period. 95.10% of the stock is owned by institutional investors and hedge funds.

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.