MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 156.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 612,392 shares of the semiconductor company's stock after buying an additional 373,577 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.06% of SolarEdge Technologies worth $8,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of SEDG. Millstone Evans Group LLC purchased a new stake in SolarEdge Technologies in the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp boosted its stake in SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after buying an additional 1,954 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in 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 buying an additional 2,770 shares in the last quarter. R Squared Ltd purchased a new stake in SolarEdge Technologies in the fourth quarter worth approximately $61,000. Finally, Resona Asset Management Co. Ltd. purchased a new stake in shares of SolarEdge Technologies during the fourth quarter valued at approximately $133,000. Hedge funds and other institutional investors own 95.10% of the company's stock.

Insiders Place Their Bets

In related news, Chairman More Avery purchased 30,000 shares of SolarEdge Technologies stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the acquisition, the chairman now directly owns 274,478 shares of the company's stock, valued at $3,760,348.60. The trade was a 12.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is owned by corporate insiders.

SolarEdge Technologies Stock Up 11.8%

SEDG traded up $1.76 during trading on Friday, reaching $16.70. The stock had a trading volume of 7,966,613 shares, compared to its average volume of 4,574,253. The stock's 50 day moving average is $15.30 and its two-hundred day moving average is $14.81. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $986.03 million, a price-to-earnings ratio of -0.54 and a beta of 1.50. SolarEdge Technologies, Inc. has a one year low of $10.24 and a one year high of $51.50.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.26) by $0.12. The business had revenue of $219.48 million during the quarter, compared to the consensus estimate of $205.39 million. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.90) earnings per share. As a group, analysts expect that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SEDG shares. Jefferies Financial Group dropped their price objective on SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley reissued an "underweight" rating and set a $10.00 price objective on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Susquehanna dropped their price objective on SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company dropped their price objective on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Finally, Northland Securities raised SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 price objective for the company in a research note on Friday. Twelve equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $16.56.

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.