Goldman Sachs Energy Stocks: Top 5 Stock Picks

2. SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Number of Hedge Fund Holders: 40

Goldman Sachs’ Stake Value: $1,986,906,000

SolarEdge Technologies, Inc. (NASDAQ:SEDG) is an Israel-based company that designs, develops, and sells direct current optimized inverter systems for solar photovoltaic installations worldwide. It operates through five segments – Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. SolarEdge Technologies, Inc. (NASDAQ:SEDG) is one of the top Goldman Sachs energy stocks. The firm owned 16.5 million shares worth nearly $2 billion in SolarEdge Technologies, Inc. (NASDAQ:SEDG), representing 0.44% of the total securities. 

On November 8, BMO Capital analyst Ameet Thakkar raised the price target on SolarEdge Technologies, Inc. (NASDAQ:SEDG) to $316 from $306 and reiterated an Outperform rating on the shares. The company’s Q3 results and guidance made him more confident that margins potentially bottomed out during Q2, the analyst wrote in a research note.

According to Insider Monkey’s data, 40 hedge funds were bullish on SolarEdge Technologies, Inc. (NASDAQ:SEDG) at the end of June 2022, compared to 47 funds in the last quarter. Ian Simm’s Impax Asset Management is the leading position holder in the company, with 580,909 shares worth $158.20 million. 

Here is what ClearBridge International Growth EAFE Portfolio has to say about SolarEdge Technologies, Inc. (NASDAQ:SEDG) in its Q2 2022 investor letter:

“We are well-positioned to participate in the accelerating energy transition. High and rising utility costs combined with policy support are driving increased penetration of home solar plus storage systems in Europe. Israel-based SolarEdge Technologies (NASDAQ:SEDG) expects to see significant growth in solar installations in this market led by Germany and Italy, among others, where consumers are not only demanding solar on the roof but a complete system solution including batteries. This phenomenon is accelerating revenue growth for these companies.”