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

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management raised its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 185.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 304,982 shares of the semiconductor company's stock after buying an additional 198,198 shares during the period. SolarEdge Technologies accounts for 0.8% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management's investment portfolio, making the stock its 27th biggest holding. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management owned 0.52% of SolarEdge Technologies worth $4,935,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of SolarEdge Technologies by 2,680.8% during the 1st quarter. GAMMA Investing LLC now owns 146,380 shares of the semiconductor company's stock worth $2,368,000 after purchasing an additional 141,116 shares during the last quarter. Teza Capital Management LLC increased its stake in shares of SolarEdge Technologies by 59.1% during the 4th quarter. Teza Capital Management LLC now owns 50,052 shares of the semiconductor company's stock worth $681,000 after purchasing an additional 18,602 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of 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 purchasing an additional 641,915 shares during the last quarter. Headlands Technologies LLC bought a new position in SolarEdge Technologies in the 4th quarter worth approximately $257,000. Finally, Renaissance Technologies LLC boosted its holdings in SolarEdge Technologies by 79.6% in the 4th quarter. Renaissance Technologies LLC now owns 627,700 shares of the semiconductor company's stock worth $8,537,000 after buying an additional 278,200 shares during the period. Hedge funds and other institutional investors own 95.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on SEDG shares. Morgan Stanley reissued an "underweight" rating and issued a $10.00 price target on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. BNP Paribas raised shares of SolarEdge Technologies to a "strong sell" rating in a report on Wednesday, July 16th. Northland Capmk raised shares of SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a report on Friday, May 23rd. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $23.00 price objective (up from $18.00) on shares of SolarEdge Technologies in a report on Tuesday, July 15th. Finally, Guggenheim reiterated a "sell" rating and issued a $5.00 target price on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a sell rating and eighteen have assigned a hold rating to the company. According to MarketBeat, SolarEdge Technologies presently has an average rating of "Hold" and an average target price of $17.92.

SolarEdge Technologies Stock Up 8.3%

Shares of NASDAQ SEDG traded up $2.21 during midday trading on Monday, hitting $28.83. The company's stock had a trading volume of 6,894,068 shares, compared to its average volume of 4,698,252. The business's fifty day simple moving average is $20.77 and its two-hundred day simple moving average is $16.97. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.04 and a quick ratio of 1.39. SolarEdge Technologies, Inc. has a 1 year low of $10.24 and a 1 year high of $31.07. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -0.96 and a beta of 1.62.

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

About SolarEdge Technologies

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.