SolarEdge Technologies, Inc. (NASDAQ:SEDG) Stake Trimmed by Guggenheim Capital LLC

Guggenheim Capital LLC trimmed its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 18.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,343 shares of the semiconductor company's stock after selling 26,025 shares during the quarter. Guggenheim Capital LLC owned approximately 0.20% of SolarEdge Technologies worth $1,541,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SEDG. Janney Montgomery Scott LLC acquired a new stake in shares of SolarEdge Technologies in the fourth quarter worth about $227,000. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of SolarEdge Technologies by 14.9% in the 4th 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 in the last quarter. Headlands Technologies LLC acquired a new stake in SolarEdge Technologies during the fourth quarter valued at approximately $257,000. Assenagon Asset Management S.A. grew its position in SolarEdge Technologies by 182.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock valued at $11,888,000 after acquiring an additional 564,490 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of SolarEdge Technologies by 79.6% during the 4th quarter. Renaissance Technologies LLC now owns 627,700 shares of the semiconductor company's stock worth $8,537,000 after purchasing an additional 278,200 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company's stock.

SolarEdge Technologies Price Performance

SEDG traded up $0.84 during midday trading on Friday, reaching $12.56. 4,219,256 shares of the company's stock were exchanged, compared to its average volume of 4,251,321. The stock has a market capitalization of $741.58 million, a PE ratio of -0.40 and a beta of 1.63. The business's 50-day moving average price is $15.34 and its 200 day moving average price is $14.87. SolarEdge Technologies, Inc. has a 1-year low of $10.24 and a 1-year high of $64.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46.

Insiders Place Their Bets

In related news, Chairman More Avery purchased 30,000 shares of SolarEdge Technologies stock in a transaction dated 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 completion of the transaction, the chairman now owns 274,478 shares of the company's stock, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.67% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SEDG. Morgan Stanley reiterated an "underweight" rating and issued a $10.00 price objective on shares of SolarEdge Technologies in a research report on Wednesday. The Goldman Sachs Group boosted their price target on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Guggenheim restated a "sell" rating and set a $5.00 target price on shares of SolarEdge Technologies in a report on Wednesday. Royal Bank of Canada upped their price objective 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. Finally, Wells Fargo & Company decreased their target price on shares of SolarEdge Technologies from $20.00 to $19.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $16.82.

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.