GAMMA Investing LLC Boosts Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

GAMMA Investing LLC increased its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 2,680.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,380 shares of the semiconductor company's stock after buying an additional 141,116 shares during the period. GAMMA Investing LLC owned 0.25% of SolarEdge Technologies worth $2,368,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SEDG. Principal Financial Group Inc. increased its stake in SolarEdge Technologies by 4.4% during the 4th quarter. Principal Financial Group Inc. now owns 277,832 shares of the semiconductor company's stock valued at $3,779,000 after purchasing an additional 11,704 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of SolarEdge Technologies during the fourth quarter valued at about $161,000. Meitav Investment House Ltd. grew its holdings in shares of SolarEdge Technologies by 0.6% during the fourth quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company's stock valued at $7,957,000 after buying an additional 3,282 shares during the last quarter. RWC Asset Management LLP bought a new stake in shares of SolarEdge Technologies during the fourth quarter worth about $173,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 1,954 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on SEDG. UBS Group lifted their price target on SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. BMO Capital Markets lowered SolarEdge Technologies from a "market perform" rating to an "underperform" rating and raised their target price for the company from $13.00 to $15.00 in a report on Thursday, February 20th. Glj Research reiterated a "sell" rating and set a $6.90 price target on shares of SolarEdge Technologies in a report on Tuesday. Susquehanna lowered their price target on SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Canaccord Genuity Group raised their price objective on SolarEdge Technologies from $14.00 to $16.50 and gave the company a "hold" rating in a research note on Wednesday, May 7th. Twelve research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, SolarEdge Technologies presently has an average rating of "Hold" and a consensus price target of $16.96.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG traded down $8.02 during trading hours on Tuesday, reaching $15.96. The stock had a trading volume of 33,074,001 shares, compared to its average volume of 4,787,327. The stock has a market cap of $942.28 million, a P/E ratio of -0.53 and a beta of 1.59. The stock has a 50 day simple moving average of $16.35 and a 200 day simple moving average of $15.51. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.39 and a current ratio of 2.04. SolarEdge Technologies, Inc. has a 12-month low of $10.24 and a 12-month high of $38.48.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, topping the consensus estimate of ($1.26) by $0.12. The company had revenue of $219.48 million during the quarter, compared to analyst estimates of $205.39 million. SolarEdge Technologies had a negative return on equity of 127.53% and a negative net margin of 182.81%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted ($1.90) EPS. On average, research analysts forecast that SolarEdge Technologies, Inc. will post -4.54 EPS for the current fiscal year.

SolarEdge Technologies 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.