SolarEdge Technologies, Inc. (NASDAQ:SEDG) had its price target hoisted by Needham & Company LLC from $30.00 to $42.00 in a research note issued to investors on Thursday. The firm currently has a buy rating on the semiconductor company’s stock.

SEDG has been the topic of a number of other reports. Axiom Securities reiterated a sell rating on shares of SolarEdge Technologies in a report on Thursday, August 31st. Barclays PLC reiterated an overweight rating and set a $28.00 target price (up from $21.00) on shares of SolarEdge Technologies in a report on Wednesday, August 9th. Cowen and Company reiterated a buy rating and set a $31.00 target price (up from $24.00) on shares of SolarEdge Technologies in a report on Thursday, August 3rd. Roth Capital upgraded shares of SolarEdge Technologies from a neutral rating to a buy rating and set a $26.00 target price on the stock in a report on Thursday, July 27th. Finally, CIBC upgraded shares of SolarEdge Technologies from a market perform rating to an outperform rating in a report on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. SolarEdge Technologies has a consensus rating of Buy and a consensus price target of $30.18.

SolarEdge Technologies (NASDAQ SEDG) traded down $0.65 during trading on Thursday, reaching $38.15. 1,263,700 shares of the company’s stock were exchanged, compared to its average volume of 843,495. The firm has a market cap of $1,668.90, a price-to-earnings ratio of 23.51, a PEG ratio of 1.01 and a beta of 0.10. SolarEdge Technologies has a 12 month low of $12.00 and a 12 month high of $39.45.

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In other SolarEdge Technologies news, VP Zvi Lando sold 6,240 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $33.50, for a total transaction of $209,040.00. Following the transaction, the vice president now directly owns 34,573 shares of the company’s stock, valued at approximately $1,158,195.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Yoav Galin sold 6,700 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $34.07, for a total transaction of $228,269.00. Following the transaction, the vice president now directly owns 25,000 shares in the company, valued at $851,750. The disclosure for this sale can be found here. Insiders sold a total of 92,940 shares of company stock worth $2,750,759 over the last ninety days. Insiders own 16.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of SEDG. Wells Fargo & Company MN boosted its holdings in shares of SolarEdge Technologies by 187.4% in the first quarter. Wells Fargo & Company MN now owns 18,679 shares of the semiconductor company’s stock valued at $292,000 after acquiring an additional 12,179 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of SolarEdge Technologies by 502.4% in the first quarter. Bank of New York Mellon Corp now owns 217,763 shares of the semiconductor company’s stock valued at $3,396,000 after acquiring an additional 181,615 shares in the last quarter. Swiss National Bank boosted its holdings in shares of SolarEdge Technologies by 7.5% in the first quarter. Swiss National Bank now owns 37,400 shares of the semiconductor company’s stock valued at $583,000 after acquiring an additional 2,600 shares in the last quarter. Parametric Portfolio Associates LLC purchased a new stake in shares of SolarEdge Technologies in the first quarter valued at about $592,000. Finally, California Public Employees Retirement System boosted its holdings in shares of SolarEdge Technologies by 5.3% in the first quarter. California Public Employees Retirement System now owns 17,800 shares of the semiconductor company’s stock valued at $278,000 after acquiring an additional 900 shares in the last quarter. 56.99% of the stock is currently owned by institutional investors.

SolarEdge Technologies Company Profile

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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