Ion Asset Management Ltd. Buys Shares of 882,696 SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Ion Asset Management Ltd. purchased a new position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 882,696 shares of the semiconductor company's stock, valued at approximately $12,005,000. SolarEdge Technologies comprises about 0.7% of Ion Asset Management Ltd.'s portfolio, making the stock its 17th biggest position. Ion Asset Management Ltd. owned about 1.52% of SolarEdge Technologies at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SEDG. Jones Financial Companies Lllp increased its position in SolarEdge Technologies by 401.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 1,954 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in SolarEdge Technologies during the fourth quarter worth approximately $27,000. Y.D. More Investments Ltd increased its position in shares of SolarEdge Technologies by 251.8% in the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company's stock worth $53,000 after acquiring an additional 2,770 shares in the last quarter. Meitav Investment House Ltd. raised its stake in shares of SolarEdge Technologies by 0.6% in the 4th quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company's stock valued at $7,957,000 after acquiring an additional 3,282 shares during the period. Finally, R Squared Ltd acquired a new position in shares of SolarEdge Technologies during the 4th quarter valued at $61,000. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Stock Performance

SEDG stock traded up $0.31 during trading on Thursday, hitting $12.54. 2,946,662 shares of the company's stock traded hands, compared to its average volume of 4,259,109. The stock has a fifty day moving average price of $14.87 and a two-hundred day moving average price of $14.75. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. SolarEdge Technologies, Inc. has a 52 week low of $10.24 and a 52 week high of $64.04. The stock has a market capitalization of $740.40 million, a price-to-earnings ratio of -0.40 and a beta of 1.63.

Wall Street Analysts Forecast Growth

SEDG has been the subject of several recent research reports. Wells Fargo & Company lowered their price target on SolarEdge Technologies from $20.00 to $19.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Citigroup reiterated a "sell" rating and issued a $9.00 target price (down previously from $12.00) on shares of SolarEdge Technologies in a research note on Wednesday, January 8th. Susquehanna reduced their price target on SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Jefferies Financial Group lowered their price objective on shares of SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating for the company in a research report on Tuesday, April 15th. Finally, The Goldman Sachs Group boosted their target price on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $16.82.

Insider Activity at SolarEdge Technologies

In related news, Chairman More Avery acquired 30,000 shares of SolarEdge Technologies stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the transaction, the chairman now directly owns 274,478 shares of the company's stock, valued at $3,760,348.60. This trade represents a 12.27 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.67% of the company's stock.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.