SolarEdge Technologies, Inc. (NASDAQ:SEDG) Stock Position Raised by PGGM Investments

PGGM Investments lifted its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 36.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 401,520 shares of the semiconductor company's stock after purchasing an additional 106,759 shares during the quarter. PGGM Investments owned about 0.71% of SolarEdge Technologies worth $37,582,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. NBC Securities Inc. purchased a new position in SolarEdge Technologies during the 3rd quarter valued at about $25,000. GAMMA Investing LLC purchased a new position in SolarEdge Technologies during the 4th quarter valued at about $30,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in SolarEdge Technologies by 194.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company's stock valued at $36,000 after acquiring an additional 183 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in SolarEdge Technologies by 4,000.0% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 410 shares of the semiconductor company's stock valued at $53,000 after acquiring an additional 400 shares during the period. Finally, NewSquare Capital LLC boosted its holdings in SolarEdge Technologies by 4,066.7% during the 3rd quarter. NewSquare Capital LLC now owns 500 shares of the semiconductor company's stock valued at $65,000 after acquiring an additional 488 shares during the period. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Price Performance

Shares of SolarEdge Technologies stock traded up $1.59 during trading on Friday, reaching $58.20. The company's stock had a trading volume of 1,268,655 shares, compared to its average volume of 1,785,492. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28. SolarEdge Technologies, Inc. has a 12-month low of $53.59 and a 12-month high of $315.34. The company has a market capitalization of $3.32 billion, a P/E ratio of 129.33 and a beta of 1.51. The business has a 50 day moving average price of $66.79 and a 200-day moving average price of $77.55.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, beating analysts' consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The firm had revenue of $316.04 million for the quarter, compared to the consensus estimate of $319.97 million. As a group, sell-side analysts anticipate that SolarEdge Technologies, Inc. will post -4.62 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on SEDG shares. Barclays raised their target price on SolarEdge Technologies from $50.00 to $61.00 and gave the company an "underweight" rating in a report on Tuesday, April 16th. BMO Capital Markets decreased their price objective on SolarEdge Technologies from $85.00 to $80.00 and set a "market perform" rating for the company in a research note on Wednesday, February 21st. Truist Financial decreased their price objective on SolarEdge Technologies from $80.00 to $75.00 and set a "hold" rating for the company in a research note on Thursday, February 22nd. Piper Sandler decreased their price objective on SolarEdge Technologies from $105.00 to $77.00 and set a "neutral" rating for the company in a research note on Wednesday, February 21st. Finally, Janney Montgomery Scott cut SolarEdge Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, March 22nd. Four 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $98.38.

Insider Activity at SolarEdge Technologies

In other 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 cost of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the transaction, the director now owns 77,446 shares in the company, valued at $5,246,966.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.17% of the company's stock.

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.