Impax Asset Management Group plc Buys 14,878 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Impax Asset Management Group plc grew its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 954,264 shares of the semiconductor company's stock after buying an additional 14,878 shares during the period. Impax Asset Management Group plc owned 1.68% of SolarEdge Technologies worth $88,890,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SEDG. Baillie Gifford & Co. increased its position in shares of SolarEdge Technologies by 89.3% during the third quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company's stock valued at $229,298,000 after buying an additional 835,290 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of SolarEdge Technologies by 108.5% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company's stock valued at $193,626,000 after buying an additional 778,034 shares during the period. Norges Bank purchased a new position in shares of SolarEdge Technologies during the fourth quarter worth about $115,423,000. Price T Rowe Associates Inc. MD grew its holdings in shares of SolarEdge Technologies by 432.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 395,823 shares of the semiconductor company's stock worth $120,311,000 after purchasing an additional 321,509 shares in the last quarter. Finally, Robeco Schweiz AG purchased a new position in shares of SolarEdge Technologies during the first quarter worth about $94,454,000. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Trading Up 7.7 %

Shares of SolarEdge Technologies stock traded up $5.14 during midday trading on Tuesday, reaching $72.09. 1,730,808 shares of the company's stock traded hands, compared to its average volume of 2,455,346. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. The company has a market cap of $4.12 billion, a PE ratio of 158.24 and a beta of 1.51. The stock has a 50 day moving average of $70.68 and a 200-day moving average of $83.29. SolarEdge Technologies, Inc. has a 12 month low of $60.44 and a 12 month high of $322.19.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating analysts' consensus estimates of ($2.01) by $0.60. The company had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. As a group, equities analysts expect that SolarEdge Technologies, Inc. will post -3.94 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on SEDG shares. Scotiabank cut their price objective on SolarEdge Technologies from $93.00 to $90.00 and set a "sector perform" rating for the company in a report on Wednesday, February 21st. Wells Fargo & Company cut their price objective on SolarEdge Technologies from $91.00 to $81.00 and set an "equal weight" rating for the company in a report on Thursday, February 22nd. Susquehanna cut their price objective on SolarEdge Technologies from $97.00 to $92.00 and set a "positive" rating for the company in a report on Friday. Mizuho cut their price objective on SolarEdge Technologies from $119.00 to $106.00 and set a "buy" rating for the company in a report on Thursday, February 22nd. Finally, Piper Sandler cut their price objective on SolarEdge Technologies from $105.00 to $77.00 and set a "neutral" rating for the company in a report on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, SolarEdge Technologies currently has an average rating of "Hold" and an average price target of $99.84.

Insider Activity at SolarEdge Technologies

In other news, Director More Avery acquired 7,000 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was acquired at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the acquisition, the director now owns 77,446 shares in the company, valued at $5,246,966.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.17% of the stock is owned by corporate insiders.

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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