Vanguard Group Inc. increased its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 3.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,529,274 shares of the semiconductor company's stock after buying an additional 92,230 shares during the period. Vanguard Group Inc. owned 4.45% of SolarEdge Technologies worth $327,566,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. NBC Securities Inc. purchased a new stake in SolarEdge Technologies during the third quarter valued at about $25,000. Quarry LP bought a new stake in SolarEdge Technologies during the 1st quarter valued at approximately $27,000. Harbour Investments Inc. boosted its position in SolarEdge Technologies by 102.0% during the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 50 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of SolarEdge Technologies in the 1st quarter worth approximately $29,000. Finally, Hollencrest Capital Management bought a new stake in shares of SolarEdge Technologies in the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 95.10% of the company's stock.
Insider Transactions at SolarEdge Technologies
In related news, Director More Avery bought 7,000 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the transaction, the director now directly owns 77,446 shares of the company's stock, valued at approximately $5,246,966.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.17% of the company's stock.
SolarEdge Technologies Trading Up 1.9 %
SolarEdge Technologies stock traded up $1.29 during trading on Thursday, reaching $70.98. The company had a trading volume of 1,430,101 shares, compared to its average volume of 2,568,907. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. SolarEdge Technologies, Inc. has a 12-month low of $60.44 and a 12-month high of $322.19. The stock's 50 day moving average price is $70.96 and its two-hundred day moving average price is $87.68. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 157.73 and a beta of 1.50.
SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, topping analysts' consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The business had revenue of $316.04 million for the quarter, compared to analysts' expectations of $319.97 million. As a group, equities analysts expect that SolarEdge Technologies, Inc. will post -3.94 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on SEDG. Royal Bank of Canada decreased their price objective on shares of SolarEdge Technologies from $85.00 to $77.00 and set a "sector perform" rating for the company in a report on Wednesday, February 21st. Mizuho decreased their target price on SolarEdge Technologies from $119.00 to $106.00 and set a "buy" rating on the stock in a report on Thursday, February 22nd. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $75.00 target price on shares of SolarEdge Technologies in a report on Wednesday, February 21st. Canaccord Genuity Group initiated coverage on SolarEdge Technologies in a report on Tuesday, January 16th. They issued a "hold" rating and a $80.00 target price on the stock. Finally, Scotiabank decreased their target price on SolarEdge Technologies from $93.00 to $90.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 21st. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $109.69.
View Our Latest Stock Report on SolarEdge Technologies
SolarEdge Technologies Profile
(
Free Report)
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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