Migdal Insurance & Financial Holdings Ltd. Boosts Stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 12.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 530,501 shares of the semiconductor company's stock after purchasing an additional 58,690 shares during the period. SolarEdge Technologies comprises approximately 1.0% of Migdal Insurance & Financial Holdings Ltd.'s investment portfolio, making the stock its 26th biggest position. Migdal Insurance & Financial Holdings Ltd. owned 0.93% of SolarEdge Technologies worth $49,673,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Captrust Financial Advisors boosted its holdings in shares of SolarEdge Technologies by 3.5% during the 4th quarter. Captrust Financial Advisors now owns 1,162 shares of the semiconductor company's stock valued at $329,000 after acquiring an additional 39 shares in the last quarter. United Capital Financial Advisers LLC raised its position in SolarEdge Technologies by 2.0% in the first quarter. United Capital Financial Advisers LLC now owns 2,394 shares of the semiconductor company's stock valued at $772,000 after purchasing an additional 46 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of SolarEdge Technologies by 49.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 145 shares of the semiconductor company's stock valued at $41,000 after purchasing an additional 48 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of SolarEdge Technologies by 5.1% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 1,011 shares of the semiconductor company's stock worth $286,000 after purchasing an additional 49 shares during the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of SolarEdge Technologies by 102.0% during the fourth quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company's stock.

Insider Activity

In other news, Director More Avery purchased 7,000 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The shares were acquired at an average cost 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.17% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SEDG. The Goldman Sachs Group cut their target price on shares of SolarEdge Technologies from $83.00 to $71.00 and set a "sell" rating on the stock in a research report on Wednesday, January 24th. Barclays boosted their price objective on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the stock an "underweight" rating in a research note on Tuesday. BMO Capital Markets lowered their target price on SolarEdge Technologies from $85.00 to $80.00 and set a "market perform" rating for the company in a research report on Wednesday, February 21st. Scotiabank decreased their price target on SolarEdge Technologies from $93.00 to $90.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 21st. Finally, Mizuho lowered their price objective on SolarEdge Technologies from $119.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday, February 22nd. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $98.81.

SolarEdge Technologies Stock Up 0.4 %

Shares of SolarEdge Technologies stock traded up $0.22 on Wednesday, hitting $59.74. The company had a trading volume of 2,182,614 shares, compared to its average volume of 2,408,811. SolarEdge Technologies, Inc. has a 1 year low of $57.72 and a 1 year high of $322.19. 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 stock has a 50 day moving average of $70.53 and a 200-day moving average of $80.58. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 133.53 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The business had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. As a group, sell-side analysts forecast that SolarEdge Technologies, Inc. will post -4.04 earnings per share for the current year.

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.