PharVision Advisers LLC Takes Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

PharVision Advisers LLC bought a new stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 18,826 shares of the semiconductor company's stock, valued at approximately $256,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SEDG. Point72 Asset Management L.P. acquired a new stake in shares of SolarEdge Technologies in the 4th quarter valued at $17,909,000. Ion Asset Management Ltd. acquired a new stake in shares of SolarEdge Technologies during the fourth quarter worth $12,005,000. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of SolarEdge Technologies by 14.9% during the fourth 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 period. Legal & General Group Plc grew its stake in shares of SolarEdge Technologies by 67.6% during the fourth quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock worth $17,262,000 after purchasing an additional 512,035 shares during the period. Finally, Sphera Funds Management LTD. acquired a new stake in shares of SolarEdge Technologies during the fourth quarter worth $5,100,000. 95.10% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Stock Down 24.7%

NASDAQ SEDG opened at $14.94 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. The stock has a market capitalization of $882.12 million, a PE ratio of -0.48 and a beta of 1.50. SolarEdge Technologies, Inc. has a 1 year low of $10.24 and a 1 year high of $52.40. The business's 50-day moving average is $15.30 and its 200 day moving average is $14.82.

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

Analyst Ratings Changes

SEDG has been the topic of several recent analyst reports. Roth Mkm lifted their target price on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Friday, February 21st. Northland Securities lowered SolarEdge Technologies from a "market perform" rating to an "under perform" rating and set a $15.50 price target on the stock. in a report on Friday, May 16th. Wells Fargo & Company cut their price target on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Canaccord Genuity Group boosted their price target on SolarEdge Technologies from $14.00 to $16.50 and gave the company a "hold" rating in a report on Wednesday, May 7th. Finally, Morgan Stanley restated an "underweight" rating and issued a $10.00 price target on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Thirteen investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $16.56.

Insiders Place Their Bets

In other news, Chairman More Avery bought 30,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $13.70 per share, with a total value of $411,000.00. Following the acquisition, the chairman now owns 274,478 shares of the company's stock, valued at approximately $3,760,348.60. This represents a 12.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is currently owned by insiders.

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.

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