Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Buys 198,198 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management boosted its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 185.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 304,982 shares of the semiconductor company's stock after acquiring an additional 198,198 shares during the period. SolarEdge Technologies accounts for about 0.8% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management's portfolio, making the stock its 27th biggest position. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management owned about 0.52% of SolarEdge Technologies worth $4,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new stake in shares of SolarEdge Technologies during the 4th quarter valued at $17,909,000. Ion Asset Management Ltd. acquired a new position in SolarEdge Technologies during the 4th quarter worth about $12,005,000. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in SolarEdge Technologies by 14.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock worth $67,370,000 after buying an additional 641,915 shares during the period. Legal & General Group Plc lifted its holdings in SolarEdge Technologies by 67.6% during the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock worth $17,262,000 after buying an additional 512,035 shares during the period. Finally, Sphera Funds Management LTD. acquired a new position in SolarEdge Technologies during the 4th quarter worth about $5,100,000. Institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Trading Up 5.9%

Shares of SEDG traded up $1.49 during trading hours on Friday, hitting $26.75. The company had a trading volume of 411,217 shares, compared to its average volume of 4,676,515. The firm has a market cap of $1.58 billion, a P/E ratio of -0.89 and a beta of 1.62. The stock's 50 day moving average price is $20.63 and its 200 day moving average price is $16.84. The company has a quick ratio of 1.39, a current ratio of 2.04 and a debt-to-equity ratio of 0.62. SolarEdge Technologies, Inc. has a 52-week low of $10.24 and a 52-week high of $31.07.

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

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays raised SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $12.00 to $29.00 in a report on Monday. Northland Capmk raised SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a research note on Friday, May 23rd. Mizuho raised their target price on SolarEdge Technologies from $18.00 to $29.00 and gave the stock a "neutral" rating in a research note on Monday. BNP Paribas Exane cut SolarEdge Technologies from a "neutral" rating to an "underperform" rating and set a $17.00 target price for the company. in a research note on Wednesday. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $10.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating and eighteen have given a hold rating to the company. Based on data from MarketBeat, SolarEdge Technologies has an average rating of "Hold" and an average price target of $17.36.

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.

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