Migdal Insurance & Financial Holdings Ltd. Has $17.95 Million Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Migdal Insurance & Financial Holdings Ltd. grew its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 10,038.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,109,225 shares of the semiconductor company's stock after acquiring an additional 1,098,284 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned about 1.88% of SolarEdge Technologies worth $17,945,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp raised its position in SolarEdge Technologies by 93.7% in the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 790 shares during the period. Millstone Evans Group LLC acquired a new stake in SolarEdge Technologies during the 4th quarter valued at $27,000. Jones Financial Companies Lllp increased its position in shares of SolarEdge Technologies by 401.2% during the fourth 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. GAMMA Investing LLC boosted its holdings in SolarEdge Technologies by 71.9% in the first quarter. GAMMA Investing LLC now owns 9,047 shares of the semiconductor company's stock valued at $146,000 after purchasing an additional 3,783 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. acquired a new stake in SolarEdge Technologies in the fourth quarter valued at $133,000. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Stock Up 5.4%

Shares of SEDG traded up $1.37 during mid-day trading on Friday, hitting $26.62. 4,020,832 shares of the company's stock were exchanged, compared to its average volume of 4,686,845. 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 52 week low of $10.24 and a 52 week high of $31.07. The company has a market cap of $1.57 billion, a PE ratio of -0.88 and a beta of 1.62. The company has a 50-day simple moving average of $20.77 and a 200 day simple moving average of $16.93.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its earnings results 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. SolarEdge Technologies had a negative net margin of 182.81% and a negative return on equity of 127.53%. The firm had revenue of $219.48 million for the quarter, compared to analyst estimates of $205.39 million. During the same quarter in the prior year, the business posted ($1.90) EPS. The business's revenue was up 7.4% compared to the same quarter last year. On average, research analysts forecast that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SEDG shares. Glj Research lowered shares of SolarEdge Technologies from a "hold" rating to a "strong sell" rating and set a $6.90 price objective for the company. in a report on Tuesday, June 17th. Barclays upgraded shares of SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $12.00 to $29.00 in a research report on Monday. Jefferies Financial Group boosted their price objective on shares of SolarEdge Technologies from $10.00 to $18.00 and gave the company an "underperform" rating in a research report on Monday. The Goldman Sachs Group restated a "neutral" rating and issued a $27.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, July 9th. Finally, Mizuho lifted their price objective on shares of SolarEdge Technologies from $18.00 to $29.00 and gave the company a "neutral" rating in a research report on Monday. Ten equities research analysts have rated the stock with a sell rating and eighteen have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price 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.