SolarEdge Technologies, Inc. (NASDAQ:SEDG) was upgraded by equities researchers at Oppenheimer Holdings, Inc. to an “outperform” rating in a report issued on Tuesday.

SEDG has been the subject of several other research reports. Vetr upgraded shares of SolarEdge Technologies from a “sell” rating to a “strong-buy” rating and set a $18.52 target price for the company in a report on Tuesday, April 11th. ValuEngine lowered shares of SolarEdge Technologies from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Roth Capital set a $16.00 price objective on shares of SolarEdge Technologies and gave the company a “hold” rating in a report on Wednesday, May 10th. TheStreet upgraded shares of SolarEdge Technologies from a “d” rating to a “c” rating in a report on Wednesday, April 26th. Finally, Zacks Investment Research upgraded shares of SolarEdge Technologies from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Saturday, May 13th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. SolarEdge Technologies presently has a consensus rating of “Buy” and a consensus price target of $19.75.

SolarEdge Technologies (NASDAQ SEDG) opened at 21.85 on Tuesday. The company has a market capitalization of $907.95 million, a P/E ratio of 21.72 and a beta of -0.04. The stock’s 50 day moving average is $19.03 and its 200 day moving average is $15.51. SolarEdge Technologies has a 52 week low of $11.35 and a 52 week high of $22.15.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Tuesday, May 9th. The semiconductor company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.09. The firm had revenue of $115.10 million during the quarter, compared to analyst estimates of $114.10 million. SolarEdge Technologies had a net margin of 11.85% and a return on equity of 21.03%. The business’s revenue was down 8.1% on a year-over-year basis. During the same quarter last year, the business earned $0.51 EPS. On average, equities research analysts expect that SolarEdge Technologies will post $1.42 earnings per share for the current year.

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In other news, Director More Avery sold 20,000 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $19.30, for a total value of $386,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Zvi Lando sold 10,000 shares of SolarEdge Technologies stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $20.49, for a total transaction of $204,900.00. Following the completion of the transaction, the vice president now directly owns 56,011 shares in the company, valued at approximately $1,147,665.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,510 shares of company stock worth $875,774. Insiders own 16.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SEDG. Sylebra HK Co Ltd increased its position in shares of SolarEdge Technologies by 24.1% in the first 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 last quarter. NN Investment Partners Holdings N.V. increased its position in shares of SolarEdge Technologies by 21.3% in the second 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 last quarter. Menora Mivtachim Holdings LTD. increased its position in shares of SolarEdge Technologies by 34.3% in the first quarter. Menora Mivtachim Holdings LTD. now owns 1,144,013 shares of the semiconductor company’s stock worth $17,847,000 after buying an additional 292,013 shares during the last quarter. Robecosam AG increased its position in shares of SolarEdge Technologies by 169.2% in the first quarter. Robecosam AG now owns 350,000 shares of the semiconductor company’s stock worth $5,425,000 after buying an additional 220,000 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of SolarEdge Technologies by 502.4% in the first quarter. Bank of New York Mellon Corp now owns 217,763 shares of the semiconductor company’s stock worth $3,396,000 after buying an additional 181,615 shares during the last quarter. 55.72% of the stock is currently owned by hedge funds and other institutional investors.

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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