SolarEdge Technologies, Inc. (NASDAQ:SEDG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday. The firm presently has a $44.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 17.33% from the company’s current price.

According to Zacks, “SolarEdge Technologies, Inc. provides inverter solution. The company’s SolarEdge system offers power optimizers, inverters and a cloud-based monitoring platform. It serves residential solar installations to commercial and small utility-scale solar installations. SolarEdge Technologies, Inc. is headquartered in Hod Hasharon, Israel. “

Other analysts have also recently issued reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $30.00 price target (up from $25.00) on shares of SolarEdge Technologies in a research report on Thursday, August 3rd. Canaccord Genuity reiterated a “buy” rating and set a $30.00 price target (up from $25.00) on shares of SolarEdge Technologies in a research report on Thursday, August 3rd. ValuEngine upgraded SolarEdge Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Roth Capital upgraded SolarEdge Technologies from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Thursday, July 27th. Finally, Cowen and Company reiterated a “buy” rating and set a $31.00 price target (up from $24.00) on shares of SolarEdge Technologies in a research report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $31.54.

SolarEdge Technologies (NASDAQ SEDG) opened at $37.50 on Tuesday. The firm has a market capitalization of $1,640.94, a P/E ratio of 23.12, a PEG ratio of 0.84 and a beta of 0.10. SolarEdge Technologies has a 52 week low of $12.00 and a 52 week high of $39.45.

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In other news, CFO Ronen Faier sold 30,000 shares of the company’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $28.56, for a total value of $856,800.00. Following the transaction, the chief financial officer now owns 80,000 shares of the company’s stock, valued at approximately $2,284,800. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Yoav Galin sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $26.35, for a total value of $395,250.00. Following the completion of the transaction, the vice president now directly owns 65,000 shares in the company, valued at approximately $1,712,750. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,940 shares of company stock valued at $3,511,159. 16.40% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Senvest Management LLC lifted its stake in shares of SolarEdge Technologies by 2.8% in the 2nd quarter. Senvest Management LLC now owns 3,751,178 shares of the semiconductor company’s stock valued at $75,024,000 after purchasing an additional 103,000 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of SolarEdge Technologies by 16.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,781,003 shares of the semiconductor company’s stock valued at $50,849,000 after purchasing an additional 254,056 shares during the last quarter. Menora Mivtachim Holdings LTD. lifted its stake in shares of SolarEdge Technologies by 26.2% in the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 1,444,013 shares of the semiconductor company’s stock valued at $28,880,000 after purchasing an additional 300,000 shares during the last quarter. Ion Asset Management Ltd. acquired a new position in shares of SolarEdge Technologies in the 2nd quarter valued at $20,180,000. Finally, Janus Henderson Group PLC lifted its stake in shares of SolarEdge Technologies by 435.7% in the 2nd quarter. Janus Henderson Group PLC now owns 946,920 shares of the semiconductor company’s stock valued at $18,932,000 after purchasing an additional 770,166 shares during the last quarter. 60.00% of the stock is currently owned by institutional investors and hedge funds.

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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