Zurcher Kantonalbank Zurich Cantonalbank Has $3.35 Million Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 91.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,761 shares of the semiconductor company's stock after selling 371,848 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of SolarEdge Technologies worth $3,347,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Legacy Wealth Asset Management LLC raised its stake in SolarEdge Technologies by 9.4% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,684 shares of the semiconductor company's stock worth $218,000 after purchasing an additional 145 shares during the period. Liberty One Investment Management LLC raised its stake in SolarEdge Technologies by 4.2% during the fourth quarter. Liberty One Investment Management LLC now owns 3,683 shares of the semiconductor company's stock worth $345,000 after purchasing an additional 148 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in SolarEdge Technologies by 194.7% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 183 shares during the period. South Street Advisors LLC raised its stake in SolarEdge Technologies by 2.9% during the third quarter. South Street Advisors LLC now owns 6,512 shares of the semiconductor company's stock worth $843,000 after purchasing an additional 185 shares during the period. Finally, Metis Global Partners LLC raised its stake in SolarEdge Technologies by 3.9% during the third quarter. Metis Global Partners LLC now owns 5,062 shares of the semiconductor company's stock worth $656,000 after purchasing an additional 188 shares during the period. Institutional investors and hedge funds own 95.10% of the company's stock.

Insiders Place Their Bets

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of the firm's stock in a transaction dated Thursday, February 29th. The stock was acquired at an average cost of $67.75 per share, with a total value of $474,250.00. Following the acquisition, the director now owns 77,446 shares of the company's stock, valued at approximately $5,246,966.50. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.17% of the stock is owned by company insiders.

SolarEdge Technologies Stock Up 4.1 %

SEDG stock traded up $2.26 during mid-day trading on Tuesday, hitting $56.77. 2,718,491 shares of the company were exchanged, compared to its average volume of 2,407,709. The company has a market capitalization of $3.24 billion, a PE ratio of 126.16 and a beta of 1.51. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. SolarEdge Technologies, Inc. has a twelve month low of $53.59 and a twelve month high of $321.33. The firm has a fifty day simple moving average of $68.43 and a 200 day simple moving average of $78.27.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, topping the consensus estimate of ($2.01) by $0.60. The company had revenue of $316.04 million during the quarter, compared to analyst estimates of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. On average, research analysts forecast that SolarEdge Technologies, Inc. will post -4.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Barclays increased their price target on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 16th. 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 research note on Thursday, February 22nd. Canaccord Genuity Group reaffirmed a "hold" rating and set a $75.00 price target on shares of SolarEdge Technologies in a research note on Wednesday, February 21st. BMO Capital Markets cut their target price on shares of SolarEdge Technologies from $85.00 to $80.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 21st. Finally, DZ Bank initiated coverage on shares of SolarEdge Technologies in a research note on Wednesday, April 17th. They issued a "hold" rating and a $62.00 target price on the stock. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $98.38.

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.