Teza Capital Management LLC Buys 18,602 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Teza Capital Management LLC lifted its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 59.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,052 shares of the semiconductor company's stock after buying an additional 18,602 shares during the period. Teza Capital Management LLC owned approximately 0.09% of SolarEdge Technologies worth $681,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Grantham Mayo Van Otterloo & Co. LLC boosted its position 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 valued at $67,370,000 after buying an additional 641,915 shares during the last quarter. Invesco Ltd. boosted its position in shares of SolarEdge Technologies by 5.0% during the fourth quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company's stock valued at $33,254,000 after buying an additional 116,809 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of SolarEdge Technologies during the fourth quarter valued at $17,909,000. Legal & General Group Plc boosted its position 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 valued at $17,262,000 after buying an additional 512,035 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in SolarEdge Technologies by 0.8% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,011,760 shares of the semiconductor company's stock valued at $13,760,000 after acquiring an additional 8,079 shares during the period. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Price Performance

NASDAQ SEDG traded up $1.76 during trading hours on Friday, reaching $16.70. The company's stock had a trading volume of 7,966,613 shares, compared to its average volume of 4,584,226. The firm's 50-day moving average price is $15.30 and its 200-day moving average price is $14.81. The company has a quick ratio of 1.46, a current ratio of 1.95 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. The company has a market capitalization of $986.03 million, a price-to-earnings ratio of -0.54 and a beta of 1.50.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, topping analysts' consensus estimates of ($1.26) by $0.12. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. The company 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 firm earned ($1.90) EPS. The firm's revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts predict that SolarEdge Technologies, Inc. will post -4.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman More Avery acquired 30,000 shares of SolarEdge Technologies stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $13.70 per share, with a total value of $411,000.00. Following the purchase, the chairman now directly owns 274,478 shares in the company, valued at $3,760,348.60. The trade was a 12.27% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.67% of the company's stock.

Wall Street Analysts Forecast Growth

SEDG has been the topic of several research reports. Glj Research raised their target price on SolarEdge Technologies from $3.90 to $6.90 and gave the stock a "sell" rating in a research report on Wednesday. Piper Sandler raised their target price on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Northland Securities raised SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 target price on the stock in a research report on Friday. Wells Fargo & Company dropped their target price on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Finally, Royal Bank of Canada raised their target price on SolarEdge Technologies from $14.00 to $15.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 20th. Eleven equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $16.56.

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.