Migdal Insurance & Financial Holdings Ltd. lowered its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 32.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 441,339 shares of the semiconductor company’s stock after selling 208,661 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned approximately 1.05% of SolarEdge Technologies worth $8,827,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SEDG. Bank of New York Mellon Corp lifted its holdings in SolarEdge Technologies by 601.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock worth $30,539,000 after buying an additional 1,309,184 shares during the period. Ion Asset Management Ltd. purchased a new stake in SolarEdge Technologies in the 2nd quarter worth approximately $20,180,000. Janus Henderson Group PLC lifted its holdings in SolarEdge Technologies by 435.7% in the 2nd quarter. Janus Henderson Group PLC now owns 946,920 shares of the semiconductor company’s stock worth $18,932,000 after buying an additional 770,166 shares during the period. Sylebra HK Co Ltd lifted its holdings in SolarEdge Technologies by 24.1% in the 1st quarter. Sylebra HK Co Ltd now owns 2,121,621 shares of the semiconductor company’s stock worth $33,097,000 after buying an additional 412,073 shares during the period. Finally, NN Investment Partners Holdings N.V. lifted its holdings in SolarEdge Technologies by 21.3% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 1,736,541 shares of the semiconductor company’s stock worth $34,731,000 after buying an additional 305,179 shares during the period. Institutional investors and hedge funds own 57.43% of the company’s stock.

SolarEdge Technologies, Inc. (NASDAQ:SEDG) remained flat at $28.75 on Friday. 289,408 shares of the company traded hands. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 25.49 and a beta of 0.03. The stock’s 50-day moving average is $27.53 and its 200-day moving average is $27.53. SolarEdge Technologies, Inc. has a 52-week low of $11.35 and a 52-week high of $29.80.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.18. The company had revenue of $136.10 million during the quarter, compared to analyst estimates of $125.07 million. SolarEdge Technologies had a return on equity of 21.01% and a net margin of 12.64%. SolarEdge Technologies’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 earnings per share. On average, equities research analysts anticipate that SolarEdge Technologies, Inc. will post $1.89 EPS for the current year.

In other SolarEdge Technologies news, VP Zvi Lando sold 1,300 shares of the company’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $22.02, for a total transaction of $28,626.00. Following the completion of the sale, the vice president now owns 47,311 shares in the company, valued at $1,041,788.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Yoav Galin sold 15,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $28.64, for a total value of $429,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,000 shares of company stock valued at $5,062,604. 16.40% of the stock is owned by company insiders.

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Several equities research analysts have weighed in on the company. BidaskClub upgraded SolarEdge Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 8th. 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 report on Wednesday, August 9th. Canaccord Genuity reiterated a “buy” rating and issued a $30.00 price objective (up previously from $25.00) on shares of SolarEdge Technologies in a report on Wednesday, August 9th. Cowen and Company reiterated a “buy” rating and issued a $31.00 price objective (up previously from $24.00) on shares of SolarEdge Technologies in a report on Thursday, August 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective (up previously from $25.00) on shares of SolarEdge Technologies in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $23.11.

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.

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

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