State of Alaska Department of Revenue Has $3.27 Million Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

State of Alaska Department of Revenue boosted its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 419.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,950 shares of the semiconductor company's stock after buying an additional 28,227 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of SolarEdge Technologies worth $3,271,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SEDG. Altfest L J & Co. Inc. bought a new position in shares of SolarEdge Technologies in the fourth quarter worth about $380,000. First Pacific Financial lifted its position in shares of SolarEdge Technologies by 49.6% in the fourth quarter. First Pacific Financial now owns 2,581 shares of the semiconductor company's stock worth $242,000 after purchasing an additional 856 shares in the last quarter. Compagnie Lombard Odier SCmA lifted its stake in SolarEdge Technologies by 250.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company's stock valued at $66,000 after acquiring an additional 500 shares during the last quarter. SG Americas Securities LLC lifted its stake in SolarEdge Technologies by 53.8% in the fourth quarter. SG Americas Securities LLC now owns 22,221 shares of the semiconductor company's stock valued at $2,080,000 after acquiring an additional 7,775 shares during the last quarter. Finally, CX Institutional acquired a new stake in SolarEdge Technologies in the fourth quarter valued at $316,000. Hedge funds and other institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Stock Up 0.6 %

Shares of SEDG traded up $0.38 during mid-day trading on Thursday, reaching $68.77. The company's stock had a trading volume of 1,969,093 shares, compared to its average volume of 2,499,034. The business has a fifty day moving average of $70.81 and a 200 day moving average of $85.02. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 152.82 and a beta of 1.51. SolarEdge Technologies, Inc. has a 1 year low of $60.44 and a 1 year high of $322.19. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28.

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 the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The firm had revenue of $316.04 million for the quarter, compared to the consensus estimate of $319.97 million. As a group, analysts forecast that SolarEdge Technologies, Inc. will post -3.94 earnings per share for the current fiscal year.

Insider Activity

In related news, Director More Avery acquired 7,000 shares of the company'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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on SEDG. Mizuho decreased their target price on shares of SolarEdge Technologies from $119.00 to $106.00 and set a "buy" rating on the stock in a report on Thursday, February 22nd. StockNews.com upgraded shares of SolarEdge Technologies to a "sell" rating in a research note on Thursday, December 28th. Barclays reissued an "underweight" rating and issued a $50.00 price target (down from $74.00) on shares of SolarEdge Technologies in a report on Wednesday, January 17th. Scotiabank dropped their price objective on shares of SolarEdge Technologies from $93.00 to $90.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 21st. Finally, Susquehanna lowered their price target on shares of SolarEdge Technologies from $107.00 to $97.00 and set a "positive" rating on the stock in a report on Wednesday, February 21st. Four research analysts have rated the stock with a sell rating, twenty have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $109.69.

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.