Louisiana State Employees Retirement System Makes New $2.99 Million Investment in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Louisiana State Employees Retirement System purchased a new position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 31,900 shares of the semiconductor company's stock, valued at approximately $2,986,000. Louisiana State Employees Retirement System owned approximately 0.06% of SolarEdge Technologies as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC boosted its holdings in shares of SolarEdge Technologies by 58.7% in the 4th quarter. Perigon Wealth Management LLC now owns 4,532 shares of the semiconductor company's stock valued at $424,000 after purchasing an additional 1,676 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of SolarEdge Technologies by 25.6% during the 4th quarter. Mutual of America Capital Management LLC now owns 9,943 shares of the semiconductor company's stock valued at $931,000 after acquiring an additional 2,029 shares in the last quarter. Liberty One Investment Management LLC lifted its holdings in shares of SolarEdge Technologies by 4.2% during the 4th quarter. Liberty One Investment Management LLC now owns 3,683 shares of the semiconductor company's stock valued at $345,000 after acquiring an additional 148 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in shares of SolarEdge Technologies by 1.6% during the 4th quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company's stock valued at $88,890,000 after acquiring an additional 14,878 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in SolarEdge Technologies by 20,293.3% during the 4th quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company's stock worth $9,716,000 after buying an additional 103,293 shares during the period. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Price Performance

SEDG traded down $0.92 during midday trading on Tuesday, hitting $59.52. The company had a trading volume of 1,989,196 shares, compared to its average volume of 2,411,882. 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 capitalization of $3.40 billion, a PE ratio of 132.11 and a beta of 1.51. SolarEdge Technologies, Inc. has a twelve month low of $57.72 and a twelve month high of $322.19. The firm's 50-day simple moving average is $70.69 and its 200-day simple moving average is $81.08.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, beating the consensus estimate of ($2.01) by $0.60. The firm had revenue of $316.04 million during the quarter, compared to analysts' expectations of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. Equities research analysts predict that SolarEdge Technologies, Inc. will post -4.04 EPS for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was bought 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 in the company, valued at $5,246,966.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SEDG shares. Citigroup dropped their price target on shares of SolarEdge Technologies from $89.00 to $83.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 21st. Scotiabank dropped their price target on shares of SolarEdge Technologies from $93.00 to $90.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 21st. The Goldman Sachs Group dropped their price target on shares of SolarEdge Technologies from $83.00 to $71.00 and set a "sell" rating on the stock in a research note on Wednesday, January 24th. Canaccord Genuity Group restated a "hold" rating and issued a $75.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, February 21st. Finally, Barclays boosted their price objective on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the company an "underweight" rating in a research report on Tuesday. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, SolarEdge Technologies presently has a consensus rating of "Hold" and an average target price of $100.28.

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.