SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. reduced its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 95.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,430 shares of the semiconductor company's stock after selling 51,178 shares during the quarter. Daiwa Securities Group Inc.'s holdings in SolarEdge Technologies were worth $227,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of SolarEdge Technologies by 3.8% in the third quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company's stock worth $327,566,000 after acquiring an additional 92,230 shares during the period. Baillie Gifford & Co. increased its holdings in 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 in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in SolarEdge Technologies by 108.5% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company's stock worth $193,626,000 after purchasing an additional 778,034 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in SolarEdge Technologies by 10.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 984,901 shares of the semiconductor company's stock worth $92,210,000 after purchasing an additional 89,279 shares in the last quarter. Finally, Impax Asset Management Group plc increased its holdings in SolarEdge Technologies by 1.6% in the fourth quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company's stock worth $88,890,000 after purchasing an additional 14,878 shares in the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barclays boosted their price objective on SolarEdge Technologies from $50.00 to $61.00 and gave the company an "underweight" rating in a report on Tuesday, April 16th. Royal Bank of Canada decreased their price objective on SolarEdge Technologies from $85.00 to $77.00 and set a "sector perform" rating for the company in a report on Wednesday, February 21st. Citigroup decreased their price objective on SolarEdge Technologies from $89.00 to $83.00 and set a "neutral" rating for the company in a report on Wednesday, February 21st. Wells Fargo & Company decreased their price objective on SolarEdge Technologies from $91.00 to $81.00 and set an "equal weight" rating for the company in a report on Thursday, February 22nd. Finally, B. Riley cut their target price on SolarEdge Technologies from $133.00 to $124.00 and set a "buy" rating on the stock in a research report on Monday, April 22nd. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $98.38.

Insider Activity at SolarEdge Technologies

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

SolarEdge Technologies Price Performance

Shares of SolarEdge Technologies stock traded up $1.59 during trading on Friday, hitting $58.20. 1,268,655 shares of the stock traded hands, 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. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 129.33 and a beta of 1.51. The firm's fifty day moving average is $66.79 and its 200-day moving average is $76.89. SolarEdge Technologies, Inc. has a 52 week low of $53.59 and a 52 week high of $315.34.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS 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 analyst estimates of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. Research analysts expect that SolarEdge Technologies, Inc. will post -4.62 EPS for the current fiscal year.

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.