Duality Advisers LP Makes New $3.21 Million Investment in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Duality Advisers LP acquired a new stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 34,338 shares of the semiconductor company's stock, valued at approximately $3,214,000. Duality Advisers LP owned about 0.06% of SolarEdge Technologies as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. grew its holdings in shares of SolarEdge Technologies by 89.3% in the third quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company's stock worth $229,298,000 after purchasing an additional 835,290 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted 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 last quarter. Impax Asset Management Group plc lifted its position in shares of SolarEdge Technologies by 46.3% during the third quarter. Impax Asset Management Group plc now owns 939,386 shares of the semiconductor company's stock valued at $121,067,000 after buying an additional 297,089 shares during the last quarter. PGGM Investments raised its position in shares of SolarEdge Technologies by 348.0% in the 3rd quarter. PGGM Investments now owns 294,761 shares of the semiconductor company's stock valued at $38,174,000 after purchasing an additional 228,970 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in shares of SolarEdge Technologies by 66.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 471,811 shares of the semiconductor company's stock valued at $61,091,000 after purchasing an additional 187,530 shares during the last quarter. Institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Trading Down 2.3 %

Shares of SEDG stock traded down $1.29 on Monday, hitting $54.51. 2,482,840 shares of the stock traded hands, compared to its average volume of 2,403,757. The firm's 50-day moving average price is $68.82 and its two-hundred day moving average price is $78.74. 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 market capitalization of $3.11 billion, a PE ratio of 121.13 and a beta of 1.51. SolarEdge Technologies, Inc. has a twelve month low of $53.59 and a twelve month high of $321.33.

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 for the quarter, beating the consensus estimate of ($2.01) by $0.60. The firm had revenue of $316.04 million for 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%. As a group, analysts anticipate that SolarEdge Technologies, Inc. will post -4.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SEDG. TD Cowen decreased their price objective on shares of SolarEdge Technologies from $120.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, February 21st. Truist Financial cut their price target on shares of SolarEdge Technologies from $80.00 to $75.00 and set a "hold" rating on the stock in a report on Thursday, February 22nd. Wells Fargo & Company cut their price target on shares of SolarEdge Technologies from $91.00 to $81.00 and set an "equal weight" rating on the stock in a report on Thursday, February 22nd. StockNews.com upgraded shares of SolarEdge Technologies to a "sell" rating in a report on Thursday, December 28th. Finally, Susquehanna cut their price target on shares of SolarEdge Technologies from $97.00 to $92.00 and set a "positive" rating on the stock in a report on Friday, April 5th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $98.38.

Insider Buying and Selling at SolarEdge Technologies

In related news, Director More Avery bought 7,000 shares of the firm's stock in a transaction on Thursday, February 29th. The shares were bought at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the transaction, the director now directly owns 77,446 shares of the company's stock, valued at approximately $5,246,966.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.17% of the stock is currently owned by corporate insiders.

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.