SolarEdge Technologies, Inc. (NASDAQ:SEDG) had its price objective increased by equities research analysts at J P Morgan Chase & Co from $31.00 to $37.00 in a note issued to investors on Wednesday. The firm currently has an “overweight” rating on the semiconductor company’s stock. J P Morgan Chase & Co’s price target indicates a potential upside of 12.63% from the company’s previous close.

Several other brokerages have also recently issued reports on SEDG. ValuEngine cut SolarEdge Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Roth Capital set a $30.00 price objective on SolarEdge Technologies and gave the company a “buy” rating in a research note on Sunday, October 15th. Zacks Investment Research cut SolarEdge Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. BidaskClub upgraded SolarEdge Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $28.00 price objective (up previously from $21.00) on shares of SolarEdge Technologies in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. SolarEdge Technologies has an average rating of “Buy” and a consensus target price of $26.27.

Shares of SolarEdge Technologies (NASDAQ:SEDG) traded up 0.837% during trading on Wednesday, reaching $33.125. 100,264 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $29.03 and a 200 day moving average price of $28.92. The company has a market capitalization of $1.39 billion, a P/E ratio of 29.366 and a beta of 0.03. SolarEdge Technologies has a 12-month low of $11.35 and a 12-month high of $33.35.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.18. The business had revenue of $136.10 million during the quarter, compared to analysts’ expectations of $125.07 million. SolarEdge Technologies had a return on equity of 21.01% and a net margin of 12.64%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. Equities analysts expect that SolarEdge Technologies will post $1.85 EPS for the current fiscal year.

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In other SolarEdge Technologies news, VP Yoav Galin sold 15,000 shares of SolarEdge Technologies stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.35, for a total transaction of $395,250.00. Following the transaction, the vice president now owns 65,000 shares of the company’s stock, valued at $1,712,750. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Zvi Lando sold 10,000 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $30.36, for a total value of $303,600.00. Following the transaction, the vice president now directly owns 48,333 shares in the company, valued at approximately $1,467,389.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,000 shares of company stock worth $5,034,150. 16.40% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its position in SolarEdge Technologies by 0.6% during the first quarter. Van ECK Associates Corp now owns 31,558 shares of the semiconductor company’s stock worth $492,000 after buying an additional 182 shares during the period. Bank of New York Mellon Corp increased its position in SolarEdge Technologies by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 13,615 shares of the semiconductor company’s stock worth $266,000 after buying an additional 528 shares during the period. Geode Capital Management LLC increased its position in SolarEdge Technologies by 1.3% during the first quarter. Geode Capital Management LLC now owns 55,312 shares of the semiconductor company’s stock worth $1,390,000 after buying an additional 722 shares during the period. California Public Employees Retirement System increased its position in SolarEdge Technologies by 5.3% during the first quarter. California Public Employees Retirement System now owns 17,800 shares of the semiconductor company’s stock worth $278,000 after buying an additional 900 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in SolarEdge Technologies by 26.2% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,815 shares of the semiconductor company’s stock worth $171,000 after buying an additional 1,415 shares during the period. 57.02% 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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