Wells Fargo & Company MN raised its position in Solaredge Technologies Inc (NASDAQ:SEDG) by 19.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,291 shares of the semiconductor company’s stock after acquiring an additional 1,680 shares during the period. Wells Fargo & Company MN’s holdings in Solaredge Technologies were worth $294,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. American International Group Inc. acquired a new stake in shares of Solaredge Technologies in the 3rd quarter worth $123,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Solaredge Technologies in the 3rd quarter worth $280,000. Nordea Investment Management AB acquired a new stake in shares of Solaredge Technologies in the 3rd quarter worth $377,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Solaredge Technologies in the 3rd quarter worth $380,000. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Solaredge Technologies in the 3rd quarter worth $380,000. Institutional investors own 67.09% of the company’s stock.

Solaredge Technologies Inc (NASDAQ SEDG) opened at $34.80 on Tuesday. The stock has a market cap of $1,500.00 and a PE ratio of 20.96. Solaredge Technologies Inc has a twelve month low of $12.30 and a twelve month high of $39.90.

Solaredge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, November 8th. The semiconductor company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.16. Solaredge Technologies had a net margin of 14.06% and a return on equity of 22.07%. analysts expect that Solaredge Technologies Inc will post 1.91 earnings per share for the current year.

In other Solaredge Technologies news, VP Yoav Galin sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $37.74, for a total transaction of $566,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Zvi Lando sold 20,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $38.02, for a total transaction of $760,400.00. Following the transaction, the vice president now owns 28,333 shares of the company’s stock, valued at $1,077,220.66. The disclosure for this sale can be found here. Insiders sold a total of 148,380 shares of company stock valued at $5,602,190 in the last quarter. Insiders own 16.40% of the company’s stock.

Several analysts have recently commented on SEDG shares. ValuEngine cut shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Deutsche Bank cut shares of Solaredge Technologies from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a research note on Monday, November 27th. Zacks Investment Research upgraded shares of Solaredge Technologies from a “hold” rating to a “strong-buy” rating and set a $44.00 target price for the company in a research note on Tuesday, November 14th. JPMorgan Chase & Co. raised their target price on shares of Solaredge Technologies to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, November 9th. Finally, BidaskClub cut shares of Solaredge Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $34.19.

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About Solaredge Technologies

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.

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Institutional Ownership by Quarter for Solaredge Technologies (NASDAQ:SEDG)

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