Two Sigma Advisers LP Has $15.78 Million Stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Two Sigma Advisers LP boosted its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,160,400 shares of the semiconductor company's stock after acquiring an additional 18,300 shares during the quarter. Two Sigma Advisers LP owned 2.00% of SolarEdge Technologies worth $15,781,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Grantham Mayo Van Otterloo & Co. LLC increased its position 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 in the last quarter. Invesco Ltd. grew its stake in SolarEdge Technologies by 5.0% during the fourth quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company's stock worth $33,254,000 after buying an additional 116,809 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of SolarEdge Technologies during the fourth quarter worth approximately $17,909,000. Legal & General Group Plc raised its stake in shares of SolarEdge Technologies by 67.6% in 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 acquiring an additional 512,035 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of SolarEdge Technologies by 1.3% in the fourth quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company's stock valued at $17,060,000 after acquiring an additional 16,258 shares during the last quarter. 95.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SEDG shares. Piper Sandler increased their price target on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. UBS Group decreased their target price on SolarEdge Technologies from $22.00 to $17.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Northland Capmk cut SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a report on Friday, May 16th. BMO Capital Markets lowered shares of SolarEdge Technologies from a "market perform" rating to an "underperform" rating and increased their price objective for the stock from $13.00 to $15.00 in a report on Thursday, February 20th. Finally, Roth Mkm raised their price objective on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Thirteen research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, SolarEdge Technologies has a consensus rating of "Hold" and an average price target of $16.56.

SolarEdge Technologies Trading Down 3.9%

NASDAQ:SEDG opened at $19.84 on Thursday. 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 $53.58. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -0.64 and a beta of 1.50. The business's 50-day moving average price is $15.35 and its two-hundred day moving average price is $14.85.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $219.48 million for the quarter, compared to the consensus estimate of $205.39 million. During the same period last year, the company posted ($1.90) EPS. SolarEdge Technologies's revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts expect that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current year.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery bought 30,000 shares of SolarEdge Technologies stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the acquisition, the chairman now owns 274,478 shares in the company, valued at approximately $3,760,348.60. The trade was a 12.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.67% of the company's stock.

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.

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