Needham & Company LLC reaffirmed their buy rating on shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) in a report published on Thursday morning. The brokerage currently has a $30.00 target price on the semiconductor company’s stock, up from their prior target price of $25.00.

Other equities analysts have also recently issued reports about the company. Deutsche Bank AG set a $25.00 price objective on SolarEdge Technologies and gave the company a buy rating in a research note on Wednesday, June 14th. Zacks Investment Research upgraded SolarEdge Technologies from a hold rating to a buy rating and set a $20.00 price objective on the stock in a research note on Saturday, May 13th. BidaskClub upgraded SolarEdge Technologies from a hold rating to a buy rating in a research note on Wednesday, July 12th. Cowen and Company restated a buy rating and set a $24.00 price objective on shares of SolarEdge Technologies in a research note on Friday, July 14th. Finally, Roth Capital upgraded SolarEdge Technologies from a neutral rating to a buy rating and set a $26.00 price objective on the stock in a research note on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $23.11.

SolarEdge Technologies (NASDAQ SEDG) traded up 2.72% during mid-day trading on Thursday, reaching $28.35. 1,888,276 shares of the company’s stock traded hands. SolarEdge Technologies has a 12 month low of $11.35 and a 12 month high of $28.60. The company has a 50 day moving average price of $21.12 and a 200-day moving average price of $16.89. The stock has a market cap of $1.18 billion, a P/E ratio of 28.18 and a beta of 0.04.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.18. SolarEdge Technologies had a return on equity of 21.01% and a net margin of 12.64%. The business had revenue of $136.10 million for the quarter, compared to analysts’ expectations of $125.07 million. During the same period last year, the business earned $0.44 EPS. The business’s revenue was up 9.1% on a year-over-year basis. On average, analysts anticipate that SolarEdge Technologies will post $1.61 EPS for the current year.

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In other news, VP Meir Adest sold 3,000 shares of SolarEdge Technologies stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $20.00, for a total transaction of $60,000.00. Following the sale, the vice president now directly owns 332,624 shares in the company, valued at approximately $6,652,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Zvi Lando sold 10,508 shares of SolarEdge Technologies stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $22.19, for a total value of $233,172.52. Following the sale, the vice president now owns 56,519 shares in the company, valued at $1,254,156.61. The disclosure for this sale can be found here. Insiders have sold a total of 54,018 shares of company stock worth $1,108,947 over the last quarter. Company insiders own 16.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in 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 worth $30,539,000 after buying an additional 1,309,184 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in SolarEdge Technologies by 24.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 101,566 shares of the semiconductor company’s stock worth $2,032,000 after buying an additional 19,694 shares during the last quarter. Trexquant Investment LP acquired a new stake in SolarEdge Technologies during the second quarter worth approximately $354,000. Menora Mivtachim Holdings LTD. boosted its stake in SolarEdge Technologies by 26.2% in the second quarter. Menora Mivtachim Holdings LTD. now owns 1,444,013 shares of the semiconductor company’s stock worth $28,880,000 after buying an additional 300,000 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in SolarEdge Technologies by 380.4% in the second quarter. Sei Investments Co. now owns 6,005 shares of the semiconductor company’s stock worth $120,000 after buying an additional 4,755 shares during the last quarter. Institutional investors own 56.50% of the company’s stock.

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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