Shares of Solaredge Technologies Inc (NASDAQ:SEDG) have earned an average recommendation of “Buy” from the twenty brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $34.96.

SEDG has been the topic of several recent analyst reports. J P Morgan Chase & Co increased their price objective on shares of Solaredge Technologies from $31.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, November 1st. Needham & Company LLC increased their price objective on shares of Solaredge Technologies from $30.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research downgraded shares of Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. Canaccord Genuity reiterated a “buy” rating and issued a $36.00 target price (up from $30.00) on shares of Solaredge Technologies in a research report on Monday, November 6th. Finally, Roth Capital increased their target price on shares of Solaredge Technologies from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, November 9th.

In other Solaredge Technologies news, VP Yoav Galin sold 15,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $28.64, for a total transaction of $429,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ronen Faier sold 30,000 shares of the stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $28.56, for a total transaction of $856,800.00. Following the transaction, the chief financial officer now directly owns 80,000 shares of the company’s stock, valued at approximately $2,284,800. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 108,288 shares of company stock valued at $3,484,290. 16.40% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its stake in shares of Solaredge Technologies by 601.2% in the second quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock valued at $30,539,000 after purchasing an additional 1,309,184 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Solaredge Technologies by 9.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 81,872 shares of the semiconductor company’s stock valued at $1,278,000 after purchasing an additional 7,140 shares during the period. Spears Abacus Advisors LLC purchased a new position in shares of Solaredge Technologies in the second quarter valued at approximately $366,000. Columbus Circle Investors purchased a new position in shares of Solaredge Technologies in the third quarter valued at approximately $4,557,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Solaredge Technologies by 143.7% in the second quarter. Goldman Sachs Group Inc. now owns 341,115 shares of the semiconductor company’s stock valued at $6,822,000 after purchasing an additional 201,146 shares during the period. 67.88% of the stock is owned by institutional investors.

Solaredge Technologies (SEDG) traded up $1.15 on Thursday, reaching $37.70. 646,598 shares of the company’s stock traded hands, compared to its average volume of 838,730. The stock has a market capitalization of $1,610.00 and a P/E ratio of 21.88. Solaredge Technologies has a fifty-two week low of $12.15 and a fifty-two week high of $39.90.

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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.

Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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