The Goldman Sachs Group Issues Positive Forecast for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

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

Other research analysts have also issued reports about the company. Mizuho lowered SolarEdge Technologies from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $35.00 to $11.00 in a research note on Thursday, November 7th. Royal Bank of Canada increased their price objective on SolarEdge Technologies from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Thursday. Barclays increased their price objective on SolarEdge Technologies from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 14th. StockNews.com upgraded SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company decreased their target price on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $21.53.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock opened at $18.19 on Thursday. 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 stock has a fifty day moving average price of $14.50 and a two-hundred day moving average price of $17.29. SolarEdge Technologies has a 52-week low of $10.24 and a 52-week high of $78.40.

Institutional Trading of SolarEdge Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Grantham Mayo Van Otterloo & Co. LLC increased 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 valued at $67,370,000 after buying an additional 641,915 shares in the last quarter. Invesco Ltd. increased its position in shares of SolarEdge Technologies by 5.0% in the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company’s stock valued at $33,254,000 after buying an additional 116,809 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of SolarEdge Technologies in the 4th quarter valued at $17,909,000. Legal & General Group Plc increased its position in shares of SolarEdge Technologies by 67.6% in 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 buying an additional 512,035 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in shares of SolarEdge Technologies by 1.3% in the 4th quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company’s stock valued at $17,060,000 after buying an additional 16,258 shares in the last quarter. Institutional investors own 95.10% of the company’s stock.

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.