Sphera Management Technology Funds Ltd Purchases Shares of 60,000 SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Sphera Management Technology Funds Ltd acquired a new position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 60,000 shares of the semiconductor company's stock, valued at approximately $816,000. Sphera Management Technology Funds Ltd owned about 0.10% of SolarEdge Technologies at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SEDG. Point72 Asset Management L.P. purchased a new stake in shares of SolarEdge Technologies during the 4th quarter worth $17,909,000. Ion Asset Management Ltd. acquired a new stake in SolarEdge Technologies during the 4th quarter worth $12,005,000. Grantham Mayo Van Otterloo & Co. LLC raised its stake 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 acquiring an additional 641,915 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in SolarEdge Technologies by 182.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock worth $11,888,000 after acquiring an additional 564,490 shares in the last quarter. Finally, Legal & General Group Plc raised its stake 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 acquiring an additional 512,035 shares in the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Stock Performance

Shares of NASDAQ:SEDG traded up $1.76 during midday trading on Friday, hitting $16.70. The stock had a trading volume of 7,966,613 shares, compared to its average volume of 4,574,253. The company has a market capitalization of $986.03 million, a PE ratio of -0.54 and a beta of 1.50. The stock has a 50 day moving average price of $15.30 and a two-hundred day moving average price of $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. SolarEdge Technologies, Inc. has a 1 year low of $10.24 and a 1 year high of $51.50.

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

Insiders Place Their Bets

In related news, Chairman More Avery bought 30,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the transaction, the chairman now owns 274,478 shares of the company's stock, valued at $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 hyperlink. 0.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Jefferies Financial Group cut their price target on shares of SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company cut their price target on shares of SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Glj Research lifted their price target on shares of SolarEdge Technologies from $3.90 to $6.90 and gave the stock a "sell" rating in a research note on Wednesday. Northland Capmk upgraded shares of SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a research note on Friday. Finally, Royal Bank of Canada lifted their price target on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. Eleven equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $16.56.

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.